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And Just Because.... "Is There A Risk The US Could Lose Its AAA Rating?" Tim Geithner: "No Risk"

Tyler Durden's picture




 

All you need to know (from April 2011):

Peter Barnes “Is there a risk that the United States could lose its AAA credit rating? Yes or no?”

 

Geithner’s response: “No risk of that.”

 

“No risk?” Barnes asked.

 

“No risk,” Geithner said.

Uhm.......

Full clip:

 

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Fri, 08/05/2011 - 20:58 | 1528790 Number 156
Number 156's picture

HAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHtoinfinity....

Fri, 08/05/2011 - 21:12 | 1528897 km4
km4's picture

Who is smiling?

"If debt is the problem, how is more debt the solution"
- Ron Paul

Fri, 08/05/2011 - 21:40 | 1529050 smlbizman
smlbizman's picture

don't worry the other guy is 100% sure.....

Fri, 08/05/2011 - 21:46 | 1529084 chopper read
chopper read's picture

TIMMAY PRINCIPLE: "...in a hierarchy Timmay tends to rise to his level of incompetence."

 

http://en.wikipedia.org/wiki/Peter_principle

Fri, 08/05/2011 - 22:12 | 1529162 CompassionateFascist
CompassionateFascist's picture

Hard-punching ZH, et al., made this happen. Nice job TD and friends.

Fri, 08/05/2011 - 22:50 | 1529278 TorchFire
TorchFire's picture

 

Describes most here at ZH:

 

Yet we who can hear, see and think

watch and prepare for the day

when the tyrants collapse in a blink

and they're marched to the gallows to sway

Sat, 08/06/2011 - 04:23 | 1529883 Van Halen
Van Halen's picture

Off with their heads!

Sat, 08/06/2011 - 10:18 | 1530234 Rusty Shorts
Rusty Shorts's picture

Peter Geithner, Timmay Geithner's father, was an Asian Banker, CFR member AND a member of the FORD FOUNDATION who had dealings with China in the 50's until he croaked. He was OBAMA's mother's boss as a microfinancing Manager in Indonesia. He was OBAMA's Grandmother's boss as the VP of the BANK OF HAWAII. Why did Obama appoint Timmay the tax cheat to be our Treasury Secretary? This shit is a setup. Timmay speaks fluent Cantonese AND grew up in CHINA !!!

Sat, 08/06/2011 - 10:22 | 1530242 Whatta
Whatta's picture
That public men publish falsehoods Is nothing new. That America must accept Like the historical republics corruption and empire Has been known for years. Be angry at the sun for setting If these things anger you. Watch the wheel slope and turn, They are all bound on the wheel, these people, those warriors. This republic, Europe, Asia. Observe them gesticulating, Observe them going down. The gang serves lies, the passionate Man plays his part; the cold passion for truth Hunts in no pack.
snip
Let boys want pleasure, and men Struggle for power, and women perhaps for fame, And the servile to serve a Leader and the dupes to be duped. Yours is not theirs.

part of Robinson Jeffers' "Be Angry At The Sun"...published 1941...the more things change...
Sat, 08/06/2011 - 01:05 | 1529686 StychoKiller
StychoKiller's picture

Goes well with Bernank's law:  "money supply expands to fill the ocean available!"

Parkinson's law

Sat, 08/06/2011 - 06:35 | 1529966 MarketTruth
MarketTruth's picture

To solve the debt problem you take on more debt?!?!?!?!?  That is like telling a fat guy to lose weight he needs to eat more donuts.

Sat, 08/06/2011 - 13:31 | 1530943 Kayman
Kayman's picture

telling a fat guy to lose weight he needs to eat more donuts.

Actually, eating more donuts will slim him down, once his heart explodes.

Eventually the insects and mould will reduce his size.

Same with the economy. 

Borrowing more (and printing is just more future debt)  to solve the debt problem, leads to economic collapse, which in turn solves the debt problem.

Ugly, but simple.

Sat, 08/06/2011 - 09:52 | 1530184 Manthong
Manthong's picture

 

 

 

"We don't have a trillion-dollar debt because we have not taxed enough, but we have a trillion dollar debt because we spend too much."

Ronald Reagan

Fri, 08/05/2011 - 21:39 | 1529048 knukles
knukles's picture

Gimp of the Month

Fri, 08/05/2011 - 23:34 | 1529455 erg
erg's picture

Never trust a man with plucked eyebrows.

Sat, 08/06/2011 - 00:28 | 1529606 The Shootist
The Shootist's picture

I'd say, who does he think he is, the thin white duke?

Fri, 08/05/2011 - 22:45 | 1529251 carbonmutant
carbonmutant's picture

From the guy who didn't see it coming...

Sat, 08/06/2011 - 01:09 | 1529690 Cursive
Cursive's picture

@ Number 156

Mako is definitely laughing his ass off right now.  ZH has had it's share of flamers, but Mako circa spring to Fall 2010 was pretty special.

Sat, 08/06/2011 - 05:34 | 1529932 tunckar
tunckar's picture

Peter Barnes “Is there a risk that the United States could lose SEC. OF TREASURY? Yes or no?”

 

Geithner’s response: “No risk of that.”

 

“No risk?” Barnes asked.

 

“No risk,” Geithner said.

Uhm.......

SO,BYE BYE GEITHNER!!!!!

Sat, 08/06/2011 - 13:37 | 1530976 Kayman
Kayman's picture

So Timmy " is there any risk that you and Barry are 2 dumb shits, shilling for Goldman?"

 

Geithner’s response: “No risk of that.”

 

“No risk?” Barnes asked.

 

“No risk,” Geithner said.

Sat, 08/06/2011 - 08:11 | 1530045 hognutz
hognutz's picture

That Geithner, always kiddin' around! 

 

 

 

(What a moron)

Sat, 08/06/2011 - 11:32 | 1530402 takinthehighway
Sat, 08/06/2011 - 14:59 | 1531358 Problem Is
Problem Is's picture

What an Ultra-maroon...

Sat, 08/06/2011 - 09:07 | 1530114 SteveNYC
SteveNYC's picture

"Mr Geithner, will you retain your credibility through this?"

"No risk of that"

Fri, 08/05/2011 - 20:55 | 1528791 andrewunknown
andrewunknown's picture

Downright prescient.  Timmy can also fold space to be at any two points in the universe at once.  Behold.

Fri, 08/05/2011 - 21:18 | 1528952 LeBalance
LeBalance's picture

Its the spice, Mua' Dib!

Its the white powder, Timmay!

Its the avoidance of Taxation, Mr Geithner!

/must turn off computer and avoid the laughter coming from ZH!/ - William Shatner voice-over.

Fri, 08/05/2011 - 20:57 | 1528793 Yen Cross
Yen Cross's picture

  I own the " Ponderosa" and

                                                        [ Timmah>>> IS   (  HOP SING)...     Little Ben, and, Hause Wookie  Write...  ( Right if you have a conscience.)

Fri, 08/05/2011 - 20:56 | 1528802 caerus
caerus's picture

this is too much what a show...

Fri, 08/05/2011 - 20:57 | 1528803 monopoly
monopoly's picture

Maybe now he will resign. What a failure he has been and Barry does not even see it. He is so clueless.

Fri, 08/05/2011 - 21:12 | 1528898 lolmao500
lolmao500's picture

The guy never had a real job before being president...

Fri, 08/05/2011 - 21:41 | 1529055 knukles
knukles's picture

The guy never had a real job before being SecTreas

Fri, 08/05/2011 - 22:00 | 1529102 Taku
Taku's picture

Chuck Norris fired him before offering a job.

Fri, 08/05/2011 - 23:36 | 1529463 Manthong
Manthong's picture

No Risk = No Clue

Sat, 08/06/2011 - 03:19 | 1529846 HankPaulson
HankPaulson's picture

When this rat tried to leave the ship, it was a bad sign. They forced him to stay. His job now is to take the hit for the team. Then, this head of the hydra will get the chop and the next one will appear. (Sorry about the mixed metaphors :|

Sat, 08/06/2011 - 00:47 | 1529647 teolawki
teolawki's picture

And what's with the "light in the loafers" hand/body language? Couldn't they have used a few of those cheap, thin air fiats to get him a decent acting coach? The Secretary of the Treasury really should emanate a "take charge kind of guy" aura. Am I asking too much for the tax dollars being beaten out of me?

Sat, 08/06/2011 - 04:32 | 1529893 fajensen
fajensen's picture

Timmay's job is to make Obummah look good and when that does not work anymore Obummah can act like he is "tough" and fire his ass in public.

Classic "good cop, bad cop" theater - except that Timmay is a bit bland for the "bad" job, nincompoop does not quite burn through as Dr Evil - IMO. But that is "Mr Compomise" for you: Can't do anything all the way so, logically, he can't do anything entirely right either.

Fri, 08/05/2011 - 20:58 | 1528804 flaunt
flaunt's picture

This is not the downgrade you're looking for.

Sat, 08/06/2011 - 01:36 | 1529731 iDealMeat
iDealMeat's picture

I +'sd you. Then logged in just to say I LOL'd..    thx.

 

Sat, 08/06/2011 - 06:35 | 1529961 fishface
fishface's picture

S&P downgrades USA to AA+

 

(Crocodile) Timmah Dundee ' That's not a (knife) Downgrade.'

...

Sat, 08/06/2011 - 11:33 | 1530407 Cpl Hicks
Cpl Hicks's picture

 

 

Has Hitler weighed in on whether this is the downgrade we are looking for?

Fri, 08/05/2011 - 20:58 | 1528805 New Survivalist
New Survivalist's picture

TIMMAAAAAAAAAAAAAAAAAAH!!!!!! Living a lie....

Fri, 08/05/2011 - 20:58 | 1528809 buzzsaw99
buzzsaw99's picture

tiptoe through the, er,...

http://www.youtube.com/watch?v=skU-jBFzXl0

Fri, 08/05/2011 - 21:33 | 1529019 Yen Cross
Yen Cross's picture

  Thanks Buzz.

Sat, 08/06/2011 - 07:40 | 1530010 Jendrzejczyk
Jendrzejczyk's picture

Been too afraid to click any of your links since you branded this one into my brain.

http://www.youtube.com/watch?v=r2qoxiDj3gI

Fri, 08/05/2011 - 20:58 | 1528811 buff90
buff90's picture

Bend over Timmy!!!

Fri, 08/05/2011 - 20:59 | 1528815 banksterhater
banksterhater's picture

biggest LIAR of all time, behead this Bankster #1

Fri, 08/05/2011 - 20:59 | 1528817 banksterhater
banksterhater's picture

biggest LIAR of all time, behead this Bankster #1

Sat, 08/06/2011 - 04:27 | 1529888 Van Halen
Van Halen's picture

Off with ALL their heads! This whole administration is a disgrace! And the RINOs who enabled them last week can line up at the guillotine right behind them.

Fri, 08/05/2011 - 20:59 | 1528820 phungus_mungus
phungus_mungus's picture

This whole admin has been and is still in complete denial of the facts.

 

Fri, 08/05/2011 - 22:02 | 1529130 j0nx
j0nx's picture

Uh no, that would be your fellow Americans who are the ones still in denial because they are still mostly believing the shit that comes out of these lying pricks' mouths. The lying pricks know exactly what the score is and that they are lying pricks. They just don't care. But then again neither do Americans or so it seems. Gay marriage and DWTS and the football strike are more important than generational theft and high crimes.

Fri, 08/05/2011 - 21:00 | 1528823 AUD
AUD's picture

One question I haven't seen answered is exactly what is the UST being downgraded against? The credit of the Federal Reserve Bank? German Bunds?, UK Gilts? All junk.

Fri, 08/05/2011 - 21:32 | 1529025 Yen Cross
Yen Cross's picture

  The ( FED is being downgraded(  against    D.S.K.(  And CORN NUTS!!!  

Fri, 08/05/2011 - 21:01 | 1528827 Diatribe
Diatribe's picture

<---- AA

<---- AAA

Let your voice be heard, VOTE above!

Fri, 08/05/2011 - 21:05 | 1528859 zen0
zen0's picture

How does one make the avatars bigger?

Fri, 08/05/2011 - 21:10 | 1528880 TheMerryPrankster
TheMerryPrankster's picture

I rub mine a couple of times and that usually works. Its better if you can get a sweet young thing to rub it for ya.

Fri, 08/05/2011 - 21:31 | 1529012 nmewn
nmewn's picture

+ one Quagmire giggity ;-)

Sat, 08/06/2011 - 02:50 | 1529816 Antipodeus
Antipodeus's picture

Just right-click & zoom (if you're using 'Firefox') ... but the resolution will be so crap it'll make your eyes water!

Fri, 08/05/2011 - 21:11 | 1528885 Executioner
Executioner's picture

<----- shut up
< ---- C- or lower

Fri, 08/05/2011 - 22:47 | 1529259 zorba THE GREEK
zorba THE GREEK's picture

AAA - Good debt rating, bad bra size

D - Bad debt rating, good bra size

Fri, 08/05/2011 - 23:36 | 1529460 zorba THE GREEK
zorba THE GREEK's picture

Sorry about that dear, don't be ashamed because they are small.

Sat, 08/06/2011 - 00:41 | 1529637 The Real Fake E...
The Real Fake Economy's picture

i like them nice big and firm.

I believe S&p has wanted to do this downgrade for a while but given the congress bickering and all of the negative economic news they needed a bit of "good news" to then release the report.  they got it in the form of the jobs report.  

 

Sat, 08/06/2011 - 02:44 | 1529809 Mentaliusanything
Mentaliusanything's picture

Listening to Elvis "Stuck on you" totally works (is in tune with) with those tits.

Meanwhile back at the Ranch I heard an ex president say. You get only one in History Dickheads- after that its all "white Dictators in the US of Hay" - bitches"

Skull & bones avitar not available at this time.

Sat, 08/06/2011 - 06:34 | 1529964 Mr Kurtz
Mr Kurtz's picture

just follow the bouncing...err, strangely hypnotic.

Sat, 08/06/2011 - 06:36 | 1529965 Mr Kurtz
Mr Kurtz's picture

sorry, double post. Well actually one post per each...

Fri, 08/05/2011 - 21:01 | 1528832 bania
bania's picture

love you folks at zh for posting this stuff

Fri, 08/05/2011 - 21:03 | 1528840 Animal Cracker
Animal Cracker's picture

It's about Dimond time.

>sigh<

Fri, 08/05/2011 - 21:05 | 1528853 h4rdware
h4rdware's picture

I've been waiting for this one. I didn't expect such a short wait!

Hah hah hah haaaaaaaaaaaaaaa!

Fri, 08/05/2011 - 21:20 | 1528964 LeBalance
LeBalance's picture

oh !!!!  the collocated algos got attached to your laughter.

Fri, 08/05/2011 - 21:04 | 1528854 John McCloy
John McCloy's picture

I suppose that is why we are hearing Tim Tim is on his way out the past week.

Sat, 08/06/2011 - 02:57 | 1529827 Mentaliusanything
Mentaliusanything's picture

Dear John,

Nothing to do with a retard here!

This is The Reserve Currency of the World we are debating Here.

She has been Royally fucked (and someone should pay)

Enjoy the reset to reality

P.s. That Japanese fellow called Sum kunt is not to be blaimed.

Every kunt on the other hand has had his hand in her (the USA's) pants 

But No kunt will be blamed

cause 

All Kunts have had her at some time.

Now she is known as an "Easy Slut" 

(sorry if it offends but truth hurts)

Fri, 08/05/2011 - 21:05 | 1528860 azengrcat
azengrcat's picture

RP: Is gold money?

BB: No it is just tradition.

RP: Just tradition?

BB: Just tradition.

 

Fri, 08/05/2011 - 21:06 | 1528864 SoCalBusted
SoCalBusted's picture

It's not a downgrade if it is above a solid B+

Fri, 08/05/2011 - 21:09 | 1528875 Gibu The Great
Gibu The Great's picture

Just wait until September! 

Fri, 08/05/2011 - 21:09 | 1528871 oldmanofthesee
oldmanofthesee's picture

"We must look past his transgressions on his income tax returns, because his is the only man who can shepherd us thru this morass!"

Fri, 08/05/2011 - 21:09 | 1528876 Yes_Questions
Yes_Questions's picture

 

 

Is Spend Time With The Family too tired an excuse for sudden resignation yet?

Fri, 08/05/2011 - 23:29 | 1529434 Cursive
Cursive's picture

Utter EPIC FAIL on the world stage. Good goin' Timmay. You and your tax evading, effete elite toe-sucking sit-the-pee punk ass self just got the ending you deserve.

Fri, 08/05/2011 - 21:10 | 1528877 disabledvet
disabledvet's picture

what he meant to say is "downgrade schmowngrade--eat treasury rally you Moody S&P." and then he finished with a flourish:

http://www.youtube.com/watch?feature=player_detailpage&v=eDcI2hTUDB8

Fri, 08/05/2011 - 21:11 | 1528882 jmc8888
jmc8888's picture

Timmy boy, anyone should know when you are loaded up to the gills with fraudulent debt, the answer is YES, you CAN be downgraded.  But we all knew that, except for Tiny Tim.

Wow, that's gonna hurt timmy for a looooooooooong time.

It's gotta be at least 100x worse than 'we're going to beat x team....guaranteed'

Glass-Steagall

Fri, 08/05/2011 - 21:14 | 1528884 Debt Rolling
Debt Rolling's picture

I don't know if you realize it, but what just happened this week is huge... The Eurozone in complete and definitive implosion (Italy and Spain down, which was unimaginable only two months ago, only the core of the core is left standing with a lethally high debt burden) ; the stock market crashes 12% in 10 days, wiping out many underwater retirement funds ; and the US lose their AAA. 

It has been 3 years I've waited for the final crash. It has never seemed so close now... 

Fri, 08/05/2011 - 21:14 | 1528914 freethinker4now
freethinker4now's picture

What do you think will happen next? I'm curious

Fri, 08/05/2011 - 21:25 | 1528957 Debt Rolling
Debt Rolling's picture

Bank holidays and overnight devaluations/monetization of governmental debt. 

There will be zones of deflation. Stocks will crash in case of high inflation, only hyperinflation can send them higher. Real estate may temporarily move lower in nominal. 

But holding a pile of cash in a bank account is madness, even if you're a hardcore deflationist. When the core banking system gets killed by defaulting debt the masters of the game will not allow their death. One day your bank account is "suspended", or you can't send money crossborders. My -- European -- great-grandfather learnt it in the 1930s.

Summary: if you don't hold gold in your hands, free of all liens that can default (so including ETFs) you're in deep shit. Why gold? Ask central banks and sovereign countries worlwide. It is immortal, stockable, dividable, movable. Nothing can match it in the whole world of elements. Not even water or food. 

Fri, 08/05/2011 - 21:55 | 1529103 Ricky Bobby
Ricky Bobby's picture

You left out another fact about gold, only a super nova can create it. Yes thats right it is fucking stardust!

Sat, 08/06/2011 - 09:42 | 1530157 boiltherich
boiltherich's picture

But then so are we. 

Fri, 08/05/2011 - 23:37 | 1529464 Cursive
Cursive's picture

@Debt Rolling

What about war zones in North America or, more likely, widespread civil unrest? Gold owners better be ready to "protect" that investment. Also, if it's valuable enough, under martial law, a government with a powerful military can outlaw use of or outright confiscate gold. Interesting times.

Sat, 08/06/2011 - 04:40 | 1529900 Socrates
Socrates's picture

To get any gold from private citizens, prior to their taking a life in the process they had better send the full SWAT team and tell them, "some of us might have to sacrifice our lives to illegally take possession of his property....anyone not okay with that risk should leave now".

There are some who actually really know how to use weapons. We have trained millions. So I desperately hope these assholes do not do something stupid like declare martial law and start confiscating things because many swore an oath to defend the US Constitution. I know that I will die supporting it. I'm doing much better on my end than Obobo. So I hope they don't create an open Stasi here (we have a closet one with the TSA) that forgets we are a nation of laws and not jack booted thugs.

Pray that they just impeach him before Barry Hussein Lenin pulls a Hugo Chavez and tries to nationalize everything. Anarchy is no form of government. Let's just impeach this clown and hope for the best.

Sat, 08/06/2011 - 07:35 | 1530004 Diogenes
Diogenes's picture

The big boys dont care. They will send in their hired thugs and if once in a while some of them get killed so what. There are plenty more where they came from.

Who was it said I can hire half the working class to kill the other half.

Sat, 08/06/2011 - 05:22 | 1529926 Debt Rolling
Debt Rolling's picture

 

Cursive --

I don't believe at all in the scenario of a big and glorious revolution or civil war - while emotionally pleasing, the psychology of the masses and military/funding considerations makes it way, way unlikely. Personnally I wouldn't bet one bean on this scenario. Occasional riots and organized raids on supermarkets, definitely -- but there will be no second civil war or something like that leading to the secession of the US, sorry. Someone who holds the medias, the emotions and the currency holds the power. And the US government will fight like a tiger to maintain them. But I don't hold you from trying. 

On the other hand, there will definitely be a bloodshed -- not due to killings, but hunger. I've analyzed the situation thoroughly, and the current state of Western economies is a recipe for catastrophe that never existed in recorded history before now. A Nation with an industrial and agricultural tissue can survive an economic collapse with only a few casualties (50,000 dead by hunger in Weimar Germany), but a Nation which imports all its stuff... my imagination just cannot visualize the extent of the coming scenario. It will be horrible. 

In Weimar Germany it was the city dwellers who died -- they went to the countryside with their "Fetzen Marks" month pay and tried to buy eggs and bread. The farmers turnt them all down -- too much currency, not enough supply of raw goods. And because growing food takes time, and disponible land, they died by tens of thousands. 

In a complete "service economy" (i.e. a Neoliberal creature) which imports everything, it is, simply put, the END for anyone who doesn't already have physical stuff to eat or exchange. When the dollar/euro/pound/Czech koruna loses value, what do you think will happen? The global creditors will stop accepting your confetti for payment. That means no oil, no food, no natural gas. And rebuilding an industrial tissue takes a lot of time -- in this buffer, I prefer not to explain thoroughly what's going to happen. 

I've written this long message because I want to share with people less experienced than me in economics, but I prefer to warn: I very rarely comment on the Internet and don't believe in arguing, like Doug Casey. Zerohedge is my only exception because I know I deal with rational and intelligent people, which are rarer every year that goes. 

 

Sat, 08/06/2011 - 08:34 | 1530068 ManOfBliss
ManOfBliss's picture

Thanks for sharing. I am not clear as to why you don't like arguing logic? It's what you do to teach and refine an idea.

Sat, 08/06/2011 - 09:41 | 1530154 Cursive
Cursive's picture

@Debt Rolling

I'm a longtime zherohead and I appreciate the exchange of ideas.  I am not advocating war or civil unrest, but we will definitely get the latter if the money is no good.  If things get as bad as you suggest and large metropolitan areas are evacuated for lack of food, just think of the eventual mayhem.  I have theories on what the day after tomorrow will be like, but no one really knows.  What we do know for sure is that the Western economies have enjoyed a higher standard of living than will be "affordable" in the future.  That's going to suck going forward, to put it lightly.

Sat, 08/06/2011 - 09:59 | 1530203 vast-dom
vast-dom's picture

There will certainly be a brutal crash. And hence patches of civil unrest. But to say the banking industry will totally collapse is sheer idiocy. Sorry. Reforms due to massive econ purging will follow. 

 

Nuclear armageddon much more likely than total bank failure (ie FuckYouShima part5 etc).

 

Please get your panties out of that knot -- you sound like the sheeple with complexity cotastrophe response to sane legit data.

Fri, 08/05/2011 - 23:50 | 1529467 Cursive
Cursive's picture

Dp

Sat, 08/06/2011 - 01:46 | 1529745 iDealMeat
iDealMeat's picture

You, Sir,

are now on my watch list.

Sat, 08/06/2011 - 04:54 | 1529911 Socrates
Socrates's picture

If they are stupid enough to announce a bank holoday the stock market could open at 50% of its value AND they will probably not allow any short to profit as they will tax short sale profits at 100%.

To announce a devaluation is to piss off 1.3 billion people who now give children video games fighting US soldiers.

1-"Were my money?"

2-"American imperialist dogs steal it"

1-"Let's go take his land"

2- "Good idea"

Stalin killed a nation, Hitler killed a nation, Mao killed a nation, Pol Pot killed a nation. Now Obama gets to go down in history as the communist plant that killed America. The Congress and the Senate had better show we are a nation of laws and impeach this lying bastard!

China might go along, and then in 2020 when they have the only space station, get used to UHF TV as they shoot all out satellites down.

The utter assholes who voted for Obama and did not want to listen to the fact that he was raised as a Marxist are the ones who desevce to eat their dogs first. My apologies to their dogs, but they were dumb enough to slit this nation's throat, not me.

Sat, 08/06/2011 - 01:13 | 1529693 StychoKiller
StychoKiller's picture

Delivery of x amt (YOU have NO NEED TO KNOW!) of 1/10Toz Gold Eagles, before The Great Implosion™ (please, please!)

Fri, 08/05/2011 - 21:08 | 1528889 KennyG09
KennyG09's picture

Timmmayyyyyy!!!

Fri, 08/05/2011 - 21:16 | 1528926 Yes_Questions
Yes_Questions's picture

 

 

If only the head of S&P was a Jimmy..

Fri, 08/05/2011 - 21:12 | 1528892 sabra1
sabra1's picture

Peter Barnes “Is there a risk that you've got herpes from doing Bwarny Fwank? Yes or no?”

 

Geithner’s response: “No risk of that.”

 

“No risk?” Barnes asked.

 

“No risk,” Geithner said.

Fri, 08/05/2011 - 21:12 | 1528896 jmc8888
jmc8888's picture

Sunday/Monday is going to be interesting that's for sure.

Fri, 08/05/2011 - 21:12 | 1528903 Confused
Confused's picture

hahhahahahahahahaha, this guy is too much. He is nothing more than a cheerleader. 

Fri, 08/05/2011 - 21:13 | 1528905 lsbumblebee
lsbumblebee's picture

Satan sure has mellowed. In the old days he would have told Barnes to go fuck himself.

Gene McDaniels RIP.

http://www.spinner.com/2011/08/01/eugene-mcdaniels-feel-like-makin-love-...

http://www.youtube.com/watch?feature=player_embedded&v=xT0zKP0KE4U#at=17

Fri, 08/05/2011 - 21:13 | 1528907 TheMerryPrankster
TheMerryPrankster's picture

That Tim Geithner, he's no Ben Bernanke is he?

What will happen on next weeks's madcap episode of Love That Timmy!!, when gangsters and russian mafia both show up at Timmy's place for a family reunion? You'll chuckle till you puke. Don't ferget to TIVO!

 

Fri, 08/05/2011 - 21:14 | 1528911 bankonzhongguo
bankonzhongguo's picture

Tim.

We are never ever going to forget about you and your money worshiping friends that put America into the shit-house.

Fuck you Tim.

45 million on food assistance because you are a tool.  Your entire fake career is a fraud.

Do the World a favor. 

Tonight.

Right Now!

Put a gun in your mouth and pull the trigger.

Its the only decent thing you can do after all the destruction you wrought from Treasury and the FRB.

Fri, 08/05/2011 - 22:18 | 1529173 azusgm
azusgm's picture

Good plan. Hank the Tank should do the same.

Sat, 08/06/2011 - 03:06 | 1529838 Mentaliusanything
Mentaliusanything's picture

I wanted to hit that "approve" button 14,348,000,000,000,000,000 times.

pulling a trigger would save the cramps.

You as a Great Nation have been very badly served by people who waste Oxegen, time and Money.

Reset ahead

Sat, 08/06/2011 - 10:31 | 1530258 Debt-Penitent
Debt-Penitent's picture

At what point does a guillotine's edge take precedence over the civil, modern and moral justice progression we feel we've attained?

At what heinous level is a crime involved which determines the fate and/or destruction of tens of millions and it's penalty surpasses life impresonment?

Would dismissal of position with "Life-long retirement benifits" seem fair? 

Just to insert a new financial leader who would groom fantastic payments and perks without any fears or resposibilities whatsoever?

This...is what breeds anxiety in the masses.  I can feel it.  Day to day, in my small town here in WI.  Easily provoked into violence.

We all have our serious resposibilities in our decisions...they, Jeethner being one, does not.

Fri, 08/05/2011 - 21:15 | 1528915 dontshoot
dontshoot's picture

Breaking: Timothy Geithner's credability has just been downgraded to bbb- with negative outlook.

Sat, 08/06/2011 - 00:48 | 1529649 CrashisOptimistic
CrashisOptimistic's picture

You lied Timmy Turbotax.

Time to resign.

Bust a deal, face the wheel.

Fri, 08/05/2011 - 21:14 | 1528919 diesheepledie
diesheepledie's picture

Everytime I see Timmy this comes to mind: http://www.youtube.com/watch?v=yYKHek8Z7zk

Fri, 08/05/2011 - 21:12 | 1528922 ssp2s
ssp2s's picture

I thought I could do my own taxes...

Recovery Summer...

I expect to resign once the debt ceiling is raised...

 

He is almost as good as Brother Ben

Fri, 08/05/2011 - 21:16 | 1528930 XitSam
XitSam's picture

AA+. What a tool.

Fri, 08/05/2011 - 21:15 | 1528936 cpnscarlet
cpnscarlet's picture

*****SPOOOOOOKKKKKYYYYYYYY******

BAD OMEN? GOOD OMEN?

Just went to the cash machine to draw out as much as possible in case Monday is a disaster. In the $900 stack of twenties....

THERE WAS A 1950 FRN "Reedeemable in Lawful Money at the United States Treasury or at any Federal Reserve Bank."

DO I TRY TO VISIT ZODIAC TIMMAH OR UNCLE BEN TO SETTLE UP?????

Fri, 08/05/2011 - 21:52 | 1529093 blunderdog
blunderdog's picture

Would you check that again?  That should've been a specific kind of note.

That's worth money, you know.  (Yes, bit of irony there if you like that sort of thing, ha.)

Fri, 08/05/2011 - 22:02 | 1529132 Wilk
Wilk's picture

Strange, I just got a Series 1969 FRN out of the ATM the other day.  I quickly spent it on beer though.

Fri, 08/05/2011 - 21:18 | 1528941 Paul S.
Paul S.'s picture

Peter Barnes:  Any risk of a downgrade of the US?

Timmy:  None.

Peter Barnes:  None?  Not even a little?

Timmy:  None.

Peter Barnes:  Just a litttttlllleeee bit?  Come on Tim?  Just an ass hair?

Timmy:  None.

Peter Barnes:  Just a fucking speck of sand in the universe chance?  Come on.  Anything is possible.

Timmy:  None.

Peter Barnes:  We have an update.  S&P  just downgraded the US.

Timmy:  I love their root beer.

Sat, 08/06/2011 - 01:24 | 1529714 snowball777
snowball777's picture

This just in: A&W has downgraded the US to BB-

Fri, 08/05/2011 - 21:19 | 1528947 h4rdware
h4rdware's picture

<-=(  We saw that coming
<-=(  He saw that coming

Fri, 08/05/2011 - 21:21 | 1528961 tickhound
tickhound's picture

   

 

        ...when I say softly, ..slowly

da, da-da, da

 

F' me harder Tiny Tim-mah,

       Countless hedge-funds hit the highway,

Wash the world in worthless pa-pah,

        Another busy day, today.

Fri, 08/05/2011 - 21:31 | 1529014 TheMerryPrankster
TheMerryPrankster's picture

sung to the tune of "tiny dancer" by Ben Folds or Elton John, I can't tell em apart anymore.

Sat, 08/06/2011 - 02:50 | 1529818 bakken
bakken's picture

More like "Tip-Toe Through the Tulips" by his Dad,  TINY TIM!!!

Sat, 08/06/2011 - 01:40 | 1529738 snowball777
snowball777's picture

...count the downgrades on the beltway.

Sat, 08/06/2011 - 08:16 | 1530051 Tunga
Tunga's picture

"Bomb bomb bomb. Bomb bomb Iran." - Rotten Johnny McCain

Fri, 08/05/2011 - 21:24 | 1528970 Milton Waddams
Milton Waddams's picture

Geithner is one of the least confidence inspiring (basic qualification for the job) Treasury Secretaries in a long, long time.  Paulson's, for all his faults, assertiveness came off as legitimate (though the stutter was a huge, huge 'tell').   Geithner inspires images of some snot nosed punk that will threaten to call his powerful father if he doesn't get his way.

Fri, 08/05/2011 - 21:25 | 1528975 Downtoolong
Downtoolong's picture

Just what we need, another opportunity for the ABA to claim they "never saw it coming". 

Fri, 08/05/2011 - 21:28 | 1529008 economessed
economessed's picture

Tim "Tax Cheater" Geithner:  if you read this site, or more likely your staff, I just wanted to write and say YOU DESERVE THIS AND EVERYTHING THAT WILL COME FROM THIS. 

KARMA = AAA, Outlook positive.

Fri, 08/05/2011 - 21:31 | 1529009 Atomizer
Atomizer's picture

Timmah is a joke. No reason to get angry with this guy. He is just a useless mouth breather who thinks the ladder continues to go up.

I'll bet Timmah watched the Godfather movie dozens of times, the scene at the toll booth. While cranking his pud over power, Timmah became delusional on how to be smarter than Sonny Corleone and get away with his crimes. Often times, those in control lose site and begin to feel invincible.

 

Fri, 08/05/2011 - 21:38 | 1529040 nmewn
nmewn's picture

He looks more like Beaker everyday.

Sat, 08/06/2011 - 14:37 | 1531276 akak
akak's picture

Actually, picture the cloned offspring of Beavis and Beaker, and you just about have a perfect match in Timmah.

Fri, 08/05/2011 - 21:37 | 1529033 New_Meat
New_Meat's picture

Dang, Timmy is one bastard Pig-Fucker..

He doesnt't have any SS or other protection, n'est ce pas?

He'll be walking along Rock Creek and ...

- Ned

Fri, 08/05/2011 - 21:37 | 1529035 Midwest Prepper
Midwest Prepper's picture

Downgrade is transitory.

Fri, 08/05/2011 - 23:01 | 1529318 nmewn
nmewn's picture

Less than expected.

Sat, 08/06/2011 - 02:55 | 1529824 tickhound
tickhound's picture

You can't eat downgrades.

Sat, 08/06/2011 - 14:41 | 1531298 akak
akak's picture

Pshaw!  Credit ratings are just a barbarous relic!

Fri, 08/05/2011 - 21:38 | 1529042 Buck Johnson
Buck Johnson's picture

That was funny, real funny.  They waited until the markets where well and closed before they did what they did.  Now everyone, don't expect a good opening in the markets sunday night and monday morning. 

Fri, 08/05/2011 - 21:40 | 1529052 masterinchancery
masterinchancery's picture

fools, damned fools, and government fools

Fri, 08/05/2011 - 21:43 | 1529061 FlyPaper
FlyPaper's picture

Geithner made the point that there needed to be 4 Trillion of cuts.  S&P reiterated that number recently.

The President did not deliver anything but speeches.  He ignored the entire recommendation of the debt committee; and when it came right down to the recent negotiations THEY KICKED THE CAN.

Unfortunately they can just hit the curb.

Sat, 08/06/2011 - 00:48 | 1529648 rcintc
rcintc's picture

Kicking the can down the road is the wrong metaphor....what they are doing is "rolling a snowball down a hill...."

(Thank you to Mohamed A. El-Erian for the quote)

RC

Fri, 08/05/2011 - 21:43 | 1529065 SpiritBlade
SpiritBlade's picture

No risk Tim has just had his crediblity rating lowered from poor to false prophet.

 

III

Fri, 08/05/2011 - 21:45 | 1529068 Johnny Yuma
Johnny Yuma's picture

Are you sure this wasn't from the Comedy Channel?

 

Fri, 08/05/2011 - 21:48 | 1529080 sasebo
sasebo's picture

All this obnoxious, pompous, asshole felon's meaningless bullshit & four bits will get you a cup of coffee at your local McDonalds.

Sat, 08/06/2011 - 08:44 | 1530082 snowball777
snowball777's picture

Four bits == 225 grains == .47 toz == $17.96

Treat yourself; go to StarBucks or Peets.

Fri, 08/05/2011 - 21:54 | 1529101 blunderdog
blunderdog's picture

Um...I like totally blame that whole Congress what just got in in 2010.  'Cause I like don't believe in history.

It's all their fault.  No really. 

(Depending on what the definition of "risk" is.)

Fri, 08/05/2011 - 23:58 | 1529500 Manthong
Manthong's picture

Geithner should ask Bernanke for a tutoring session to find out how many standard deviations "no risk" is from "tail risk".

Fri, 08/05/2011 - 21:51 | 1529104 j0nx
j0nx's picture

Not like the MSM will call him on it yet alone everyone's favorite guy RP. RP ought to be calling at the top of his lungs for timmy and benny to resign tomorrow but alas RP is all yammer and no substance.

Fri, 08/05/2011 - 21:57 | 1529118 blindman
blindman's picture

Van Morrison - What's wrong with this picture?
http://www.youtube.com/watch?v=u23TarZQ5f8
.
Van Morrison - Talk is cheap - live
http://www.youtube.com/watch?v=ighYUSWc16Q&feature=related
.
(Van Morrison)

Kicked your gift-horse in the teeth
Crowd gathered round in the street
You killed your saviour new one can't be found
whoa Talk is cheap your saviour's highway bound

You buy the tabloids every day
They're giving lots of things away
They went to bring you up
So they can let you down
because Talk is cheap it's gonna
make them a million pounds

son don't put your business on the telephone
Tell everybody just to leave her alone
Tell her to watch her mouth before she talks to anybody
Oh 'cos talk is cheap it comes with the territory all right

Sometimes it's back-up-front sometimes it's upside down
Put your money where your mouth is when you come around
Backbiters and syndicators walking from chinatown
well talk is cheap you got to lay your money down

Well when you can't shut up a god damn fool
there's no exception to this rule
that says blah, blah, blah, blah blah
Just like a nursery rhyme
whoa Talk is cheap baby almost all of the time
.

Fri, 08/05/2011 - 22:43 | 1529218 Doyle Hargraves
Doyle Hargraves's picture

Van the Man my all time favorite artist!!! The best there ever was and will be! I saw him at the Gibson Amphitheatre in 2007, one of the best shows ever!

Sat, 08/06/2011 - 00:38 | 1529631 blindman
blindman's picture

http://www.youtube.com/watch?v=P505wQ_plIM
'Till The Money Runs Out
.
Max Keiser Standup Rage Mott St. NYC; August 2nd, 2011
Posted on August 5, 2011 by maxkeiser
http://maxkeiser.com/2011/08/05/max-keiser-standup-rage-mott-st-nyc-augu...

Sat, 08/06/2011 - 02:51 | 1529820 pops
pops's picture

"This video is private."

 

Sat, 08/06/2011 - 03:56 | 1529869 blindman
blindman's picture

@ " ..is private.."
comment: not anymore.
.
John Hammond & Tom Waits - I Know I've Been Changed
http://www.youtube.com/watch?v=VYJ75sGstk8
.

Fri, 08/05/2011 - 22:00 | 1529137 Atomizer
Atomizer's picture

Within my membership at ZH. There is a post telling Timmah to protect his family. The real architects will rear their ugly heads. Timmah is just a used car salesman to front an agenda. Some have no idea when money and promises are throw at you, many jump at the opportunity as financial security. Later they find out, you didn't meet your goals and if you don't fix it.. expect MSM blowback on a variety of issues we create, err manufacture.

Welcome to the playbook.

 The architects/silent partners are scared shitless. Watch the comedy unfold.

Do NOT follow this link or you will be banned from the site!