With 4 Days To Go, US Government Averts Another Near Keynesian Death Experience

Tyler Durden's picture

While few were expecting that the US government would pull a Belgium and collapse following an end of fiscal year lack of funding resolution, virtually everyone was secretly harboring just such a hope. Well, trust the government to once again kill all hopes that America has a chance to finally grow out of its depression. As the WaPo reports, with just 4 days to go until the end of the fiscal year end, and until some form of a continuing resolution has to be struck, we have once again averted Keynesian Armageddon (i.e., the inability to issue publicdebt to fund the digging of holes). "Senate leaders announced a bipartisan agreement Monday evening that would keep government agencies funded until Nov. 18, potentially ending a contentious dispute on how to pay for disaster funds. The Senate is expected to approve its version of the temporary spending bill Monday evening. The House is likely to approve a very brief extension of funding by a voice vote later this week and, when it returns to session next week, hold a vote on the stop-gap bill funding the government till Nov. 18." Expect the market response to be furious and hilarious as somehow news that America won't be lining up in front of the Southern District of New York (or, more properly, Beijing) for now, will be spun as massively bullish.

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Conax's picture

So much for the debt limit, eh?

CharlieSDT's picture

Well if they didn't pass this stopgap measure they wouldn't get their paychecks this month, and those guys have expensive hookers to pay.

dwdollar's picture

I thought the lobbyists paid for the hookers?

Ahmeexnal's picture

The game of chicken is over: europe lost.



Following the Austrian government’s announcement that it was restricting the sales of precious metals to $20,000 a time, an amount which would purchase just 11 ounces, the French authorities have followed suit with an equally draconian new measure to deter people from buying gold and silver.

A recently amended French law states (translation), “Any transaction on the retail purchase of ferrous and non ferrous (metals) is made by crossed check, bank or postal transfer or by credit card, not the total amount of the transaction may not exceed a ceiling set by decree. Failure to comply with this requirement is punishable by a ticket for the fifth class,” going on to confirm that any amount over €450 euros or $600 US dollars “must be paid by bank transfer”.

Clint Liquor's picture

Oh, no! A ticket for the fifth class. That sounds horrible.

Cheesy Bastard's picture

I think a ticket for the fifth class means you gotta shovel coal.  Intercontinental railroad?

johnQpublic's picture

bullish for more government bullshit


or bullshit is bullish?

nmewn's picture

"Intercontinental railroad?"

I saw that.

And the MSM goes into some weird facial twitch where they lose the ability to ask the simple question of "what intercontinental railroad are you talking about?"

My working theory is he's hangin around with Biden too much...lol.

Cheesy Bastard's picture

Too funny.  Or he's been too busy banning breathalyzers, er, ah inhalators, uh, you know what he meant.  National ban, that goes for all 57 or 58 states...

Rodent Freikorps's picture

Since when did the French people pay any attention to the bullshit that comes out of Paris?

nmewn's picture

“Any transaction on the >>>retail<<< purchase of ferrous and non ferrous (metals) is made by crossed check, bank or postal transfer or by credit card, not the total amount of the transaction may not exceed a ceiling set by decree."


Pay cash, take delivery, walk away, sleep well.

Ahmeexnal's picture


Pay cash, take delivery, walk away, sleep well.


That's exactly what Sarkozy has forbidden his slaves to do.  Anyone buying over 450 euros worth of metals will now have to do so via a bank (credit card, check, bank transfer) which means "they" will know where to confiscate your metal.


Liberte? Egalite? ESCLAVAGE!!!  MISERE!!!

nmewn's picture

Sounds like they need a more honest medium of exchange ;-)

duo's picture

wasn't using gold/silver to transact punishable by death after the hyperinflation from the French revolution (and the new paper money that was issued)?

Full circle in 220 years!

cowdiddly's picture

Historically speaking, it's the ferrous metals that the French Government have to worry more about.

Madame Defarge -tricoteuse

Ahmeexnal's picture

I didn't know a guillotine blade costs over 450 euros.

I would have expected it only costs 5 bucks to dig a guillotine blade outta the ground.

orkoSvalbard's picture

“According to independent reports the law was passed to curb the illegal sale of stolen metals like copper, steel, etc. Given the rampant rise in thefts of these metals from telephone poles, construction sites and businesses here in the United States, we can certainly see this as a reasonable assessment for why the French passed this law.” The law prohibits PURCHASE, while the basis of the rationale has to do with SALES.  This is the same bullshit excuse lawmakers made in Washington State.  http://www.washingtonvotes.org/2011-HB-1716

orkoSvalbard's picture

...and NO news coverage of it...

sodbuster's picture


I don't think of it as a debt limit- cause it ain't- it's a debt TARGET! A limit implies there would be a point of it not going any higher- and we know that is NOT the case. It is a debt target, and they always seem to hit it- no problem!!



Conax's picture

Yeah, it means nothing, as today's action illustrates.

What a sad way for us to go down, indentured slaves with Chinese overseers holding the whips.

Try to stay out of debt, try to be honest, the government puts it up your chute anyway.

CharlieSDT's picture

I'd rather my tax dollars be spent on hookers than bombs, frankly.

Daily Bail's picture

Speaking of Keynesian-bashing truth tellers, Ron Paul was on with Jon Stewart tonight.  Here's the video for anyone who might have missed it:


nmewn's picture

Yeah, Reid screwed up and left some zeros off...they came together as one and added the zeros back in. The dirty deed done...they're off on another vacation.

Rodent Freikorps's picture

Reid is showing us the government itself despises the Constitution.

When in Rome...

The Constitution only exists today to give the feds a false claim of legitimacy.

It is almost like a bunch of goal seeking, sexual predator,  psychologists had had their way with it.

nmewn's picture

I laughed like hell when I heard about his little re-jiggering the numbers error of dropping zeros off a simple appropriations bill...the money was there when the House sent it up...he screwed around trying to make political points and lost "funding"...its like no one reads anything anymore up there or has a calculator sitting around on the desk...just print more dammit!!!...lol.


FunkyMonkeyBoy's picture

Anyone who doesn't want the US Government to collapse is sick of mind.

dwdollar's picture

Well... excluding those who are dependent on it.  The dependents have a very logical reason for keeping it alive.

narnia's picture

The only reason I would prefer an elective takedown of this beast over a sudden collapse is that people under 16, who have nothing to do with it, and over 65, can't really do anything about it, will bear most of its wrath.  

dwdollar's picture

No different than any other calamity.  The youngest and oldest are always the most vulnerable.  That's why families exist.

narnia's picture

That may be true with kids, but it's not true with the elderly.  Some people over 65 worked their balls off- never sucking the system like a parasite- doing everything worthy of reward in a free society.

dwdollar's picture

It's going to fall with or without our consent.

EvlTheCat's picture

They may have worked their balls off.  I won't contest that.  Others may.  However, they did not work at keeping society free.  They handed our freedoms over to politicians for virtual security.

stacking12321's picture

he said "Some people over 65", not all people over 65 .


to suggest that all people over 65 are responsible for allowing the vampire squid to flourish is a reckless statement.

i'm sure there were many that saw what was going on.

not everyone will make it their all encompasing life's mission to fight the powers that be at every turn.


and after all , what have YOU done to keep society free? why do you assume that everyone over 65 has done less?

arrogant little punk.



EvlTheCat's picture

Would you like my resume?  I will fax one over to you in the morning?

It's a blog get over yourself.  Would you like me to apologize for you lumping yourself into the generations of Progressive shit that ruined this country?  Selling freedom for security because they worked hard all their lives?  One would think freedom for the continuing generations would be the reward itself?

Glad you are on the front lines at 65+!  Let me know where you have planed your next protest meeting and I will be there.

I love how you are offended at the comment, challenge my integrity, and provide no credible examples of your own.  Hypocrite!

Go to bed old man!

stacking12321's picture

i already have your resume, it reads:

arrogant punk, 25, likes jumping to false conclusions and blaming everyone else but himself for the world's problems.


i happen to be 41, not over 65, you're wrong there, as well, you're 0-3 so far.

and i don't challenge your integrity, i challenge your sense of responsibility for the mess that's all around us.

it is ALL of our problem, the mess we are in, to blame the over-65ers is a mistake, it's like you wash your hands of the whole affair and pretend that you've done everything you can to correct the situation, and it's someone else's mess.

you'll grow up one day.


EvlTheCat's picture

Come on where are your examples? Hypocrite! Love how you selectively nit picked the reply! What I find funny is how you decided to jump into a conversation and impose what you though my meaning was and then proceed to beat me about the ears with what you assumed I meant. My reply, to someone other than yourself, was specific to what was written. I was not lumping all 65+ year olds together. You did that for me. However, I have known my fair share of entitled clowns over 65+. Several examples in my own family. A grandmother who was a loan officer for 40 years, pulling in 6 figure salary. Now destitute and living in a government subsidized apartment on the dole. That is probably the one which stings the most. Lifestyle choices brought her there but she still blames Bush. I have tried to get her to come and live with us so she can try and start over. She says she is to embarrassed. The reality is she doesn't want to live on a farm. I have two kids a wife and a mortgage. Here the last thing I was involved with. www.palmbeachpost.com/money/foreclosures/palm-beach-county-homeowner-adv... If you feel like you have to defend the point then there is obviously someone in your life you think I am attacking? Try using examples next time instead of fluff. LOL.. It's acceptable for you to call out others, but when you have to put up or shut up, you can do neither!

stacking12321's picture

your reasoning is not sound. in what way am i a hypocrite? my statements were sincere and consistent.

you find funny how i "jumped in to a conversation", eh?

believe it or not, public comments on zerohedge are open for all to reply to, that's what the little "reply" button is for.

if i may use your own quote: It's a blog, get over yourself

i did not "beat you about the ears" with that i assumed you meant, go back and read your posting, you are clearly saying that you think it's the over 65ers fault. if that's not what you meant, you should have been more clear.

and no, there is no one in particular in my life i was thinking of or trying to defend, it's not a personal matter for me, it's just that it's not good to point a finger and try to assign blame the way you did. you could just as well have said the mexicans did it, or the muslims did it, and i would disagree just as much with the statement.

and nonsense statements like "put up or shut up" are fine for trash talking on the basketball court, but make no sense here. i have already "put up" my views. and i will shut up when i get bored of the conversation. perhaps like now.


EvlTheCat's picture

More of your fluff and still no substance.


You must have done something to make America a better place? I mean other then get on a blog and yap like a toy poodle. Checked in a library book on time? Helped a little old lady across the street? Closed down a rouge lemonade stand?

I guess we can agree on one thing, this conversation has been an utter waste of time. From different perspectives, of course.


Peace and prosperity to you and yours!

Rodent Freikorps's picture

Virtual is such a misunderstood word.

But in the end it means "close, but not the real thing."

stacking12321's picture

that's virtually what it means, but not quite.

Rodent Freikorps's picture

If you trusted a government, that is a Darwinian fail, right there.

EvlTheCat's picture

Builds character.... Just ask the kids in Iraq and Afghanistan.

Raymond Reason's picture

Yes, sacrifice the young.  Just watched a WWII documentary tonight.  So sad, so very sad.  Even the ones who survived uninjured carried the dreadful baggage emotionally for the rest of their days.  What a God-forsaken tradition. 

adr's picture

Actually most WWII vets who survived carried a sense of pride and learned that living an honest life was the best thing to do in order to honor those who died. That is why we got the post war boom and 20 years of the best times in America. The cildren of the WWII generation decided they were better than the whole self sacrifice thing and turned themselves into the selfish generation. 

Learning that life is fragile and bettering the world for everyone is a good thing. Both my grandfathers fought in WWII and were proud to do so. One was a bomber pilot and the other was part of the airborne dropped behind enemy lines before D-Day. Sure they had nightmares about the war but to them it gave them a reson to love their families more. It's too bad both of them are dead because seeing the garbage in washington today either one would grab a rifle and go to washington not expecting to come back.

Shameful's picture

Those over 65 had their time at bat, they chose this, they can live with their decision, or not as the case may be.  As for the younger, we still have families in this country don't we?  Wasn't that long ago I was a young person and I don't remember getting farmed out at 16, though my grandpa was farmed out at 12.  The punishment of living for generations above our means will be generations living below our means.  Economic depressions are tough, try to soften the blows and it will look like the last one and drag on.  Only this time I don't think the US will be gifted the only manufacturing base post war.

narnia's picture

I'm not in favor of a slow drip.  Quite the contrary.  I'd like to cut off this debt beast in plain view.  

I'd just like to see the US make good to older folks who deserve it, especially veterans, by disbursing a livable Social Security until Ft. Knox was drained.  That's a fairly just way of getting it into circulation.   

Overall, I don't believe the adjustment will be ridiculously painful and spill over multiple generations.  Our GDP in fiat may go down, but our quality of life is going to go up.  

Shameful's picture

Ah, so pray tell where will the 100 trillion to fund the promises to the old timers come from?  Oh that's right from taking it from the productive at gunpoint.  That Ft. Knox would be drained pretty quick, what you you do after that? Gold would last for what a few months?  So do you advocate that us young folks be bound in servitude because the old folks couldn't be bothered to save on their own or deal with the ponzi scheme when it was still young?

The old timers already got theirs.  They got to ride high in the ponzi boom time and handed the world of shit to their children and their grandchildren.  I see the license plate "We're spending our children's inheritance", a point of pride, they have and let them reap the whirlwind.  I'll take care of my folks, but turns out those old timers should have kept up their family relations and not counted on the promises of a ponzi scheme.  This is like asking the bottom level of a pyramid scheme who got wiped out to dip into their pockets and bail out the guys higher on the pyramid scheme who got the joy of spending the cash already.  And the idea that SS was a trust does not bear out in law, the Supreme Court has already made a ruling.  It's appreciably no different than any other tax, just they spin it for the rubes.

EvlTheCat's picture

Man Shameful, I love it when you're here!!