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Boehner Balking?
Oops. From Washington Wire again: "House Speaker John Boehner (R., Ohio) appears to be balking at the debt ceiling deal that Senate Democratic Majority Leader Harry Reid of Nevada has signed. Mr. Boehner is concerned about provisions in the deal that could lead to sharp cuts in military spending, say people familiar with the situation. House aides have warned that just because Mr. Reid has signed off on the deal doesn’t mean the deal is done." From limit up to limit down in one easy (yet unconfirmed) headline.
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It is a rather strange world. Consider the amount of money transferred to primary dealers via the Fed and with that amount of liquidity they certainly can control the outcome. No other way to explain it.
This is what the post Peak world looks like.
Don't forget to include all the list of items that matter.
The number one of which is $118 Brent, $20 above WTI for 8 months now for the first time in history.
0.4% GDP in Q1 in the middle of QE2, in the middle of 2% SS tax cut stimulus and continuance of the Bush tax cuts.
9.2% unemployment over 2 years past the alleged bottom.
It all becomes much easier to grasp when you realize there is no history and this world of choking off fuel supply to society never ever has existed before.
View all things in that context and it gets more clear.
pt of order!
shithead reid has not signed anything; according to wwbullshit.com, he has signed off on on some deal, probably with a bankster or three.
have they had the filibuster yet? i hope i didn't miss it!
Bottom line is that Washington is now forever held hostage by Wall St. and lower stock prices and/or further job weakness will no longer be tolerated.
Any and all future crises will end up the same. Stick saved by emergency actions or some type of compromise.
Wash/Rinse/Repeat and 100% control by the Alpha-Dog PigMen will continue as far as the eye can see.
this is pretty kinky, RT, i'm sure you'll get some green flags, too.
i'm here in a playful mood, myself, i guess, thinking maybe al franken should toss a shoe.
that's pretty wild, huh?
Robot:
You are appreciated.
BOHICA Bitchez!!!!
Makes you wonder if the Republicans will give the Democrats everything they want.
The Debt Ceiling hike is pretty HUGE. I agree that they should parce out the Money in small increments. That way if they do not like what Bernanke is doing with the Money they can shut the spigot off. Like it should be shut off right now.
Bernanke has gived almost all of the Debt Increases to the US and Foreign Banks. This has done nothing for the economy or the average American.
Somehow, I just do not think the Republicans will vote for the entire "Requested" Debt ceiling increase. Otherwise they give the 2012 election to Obama. We all know they do not want that.
I am betting that we get a small increase in the Debt Ceiling. Not enough to tide Obama over until the election of 2012.
ok, w_f_s i got you down for the bet.
finally! some action!
In my opinion everyone on Wall Street (at least 99%) has bet on Blue, Democratic win on the Debt Ceiling.
But, I am betting on Red (Republican) as they will be (in my opinion) controled by the wild card, the Junior Tea Party People. They are not playing the normal game that Washington usually plays. Where the go back and forth like they each really have differences, for posturing and then make it happen.
I am not saying the Market will not go up on Monday because Wall Street is self dilusional and think that no matter what they get what they want. That was evidenced by the runup on Thrusday and Friday on many Stocks. Especially, Beta Stocks.
Wall Street and their minions the Credit Rating Agencys have thrown enough Terrorist threats to hopefully insure they get what they want. Yet, I am not so sure this time. Those new tea party people just might throw them for a loop.
And you know what always happens when everyone is on the same side of the boat. The Market does the opposite.
In my opinion everyone on Wall Street (at least 99%) has bet on Blue, Democratic win on the Debt Ceiling.
But, I am betting on Red (Republican) as they will be (in my opinion) controled by the wild card, the Junior Tea Party People. They are not playing the normal game that Washington usually plays. Where they go back and forth like they each really have differences, for posturing and then make it happen like there never was a difference of opinion.
I am not saying the Market will not go up on Monday because Wall Street is self dilusional and think that no matter what they get what they want. That was evidenced by the runup on Thrusday and Friday on many Stocks. Especially, Beta Stocks.
Wall Street and their minions the Credit Rating Agencys have thrown enough Terrorist threats to hopefully insure they get what they want. Yet, I am not so sure this time. Those new tea party people just might throw them for a loop.
And you know what always happens when everyone is on the same side of the boat. The Market does the opposite.
This inferno reads on like { Dantes (9) step program}. The normal ass raping stop hunters didn't have enough empugh, to blow out the stops on the proxy!!! ( aud) suprised
Rock on Slewie! Atard is a limp Bizkit!!!! My way Yen on a G550 fetching back U.S. jOBS!!!
as mentioned a couple of times it would be imprudent to underestimate house republican (most of them) resolve. the details of the "deal" are yet to be stipulated. tomorrow morning may be a gap and fill. just glad i have the shiny and don't have to sweat out the gamesmanship. seems a lose/lose proposition to me for novice "traders."
Nothing really matters, Anyone can see,
Nothing really matters,
Nothing really matters to me....
Any way the wind blows
It's all been a horrible mythstake.
Do we have a number yet for what portion of the initial $1T is FY2012?
Boehner should try to be a ball-king rather than be balking, the voters who voted republicans in the congress were hoping for that kind of change
Over 100 comments and no one has mentioned anything about this line:
"Mr. Boehner is concerned about provisions in the deal that could lead to sharp cuts in military spending, say people familiar with the situation"
We spend more on empire...........I mean defense than on any one other government program. If you are serious about cuts then you would start there. This says it all.
I have seen a number of posts on this topic, in this thread.
I respect your thoughts on any topic! Just because I juxtapose you, doesn't mean I don't appreciate your input...
I think it's pretty clear at this point that a great many people, mostly left leaning, have never understood that the Tea Party is not just a monolith of Republican positions dragged to an extreme.
The reason the Tea Party has redefined this debate so successfully is because they are very precisely NOT that. They don't care about abortion, as a group. They don't care about DoD all that profoundly, as a group.
They were elected for one reason and one reason only, government spending and the economic debacle. They are true single issue candidates and are immune to campaigns conducted against them for any other issue. The "professional politicians" hold them in some contempt because they think of this as lacking depth or lacking sophistication.
They, the Tea Party folks, don't care. They are about to force the first instance of multi trillion dollar spending reductions the country has ever had. That trumps by rather a great deal anything Congress has ever done about abortion.
+1. The professional politicians are just that. When times are good, tell people they can deduct the interest on thier $400k home. Tell them that their less than successful aquaintances get a earned income tax credit. create a false dichotomy on wedge issues, and wrap them up in tax code goodies to let the small american brain rationalize "atleast my money is not paying for abortion, cause I got a deduction to support the fredom riders who buy motorcycles and support the troops." When times are bad. do the exact same thing.
If people want higher taxes and more government, let everybody vote for rates to go up proportionally on everybody. then you'll see how quickly cronyism falls apart, social wedge issues are "don't ask, don't care, as long as it personally does not affect me", and sound money policy permeates the culture. People will want to be doctors, engineers, scientists, responsible stewards of the infrastructure, etc. Instead of the grab ass professions and lifestyles.
Wont pass because they wont cut defense spending, but thats what needs to be done. Couldnt believe that it was even propósed.
If that passes Ill get drunk and go inform all the retired military here in Granada, Nicaragua... Ill tell them that their bloated pensions are going to be cut in half.
Boner... the man who once handed out checks for the tobacco business on the House floor (fact) is now the slut of the War business. Yea, you know, the War business - 40,000 wounded and 4500 dead, 1.3 trillion wasted, a few thousand fat cats gettin big time booty.... yea the War Business... who gives a fuck whether both of these countries are where they were 10 years ago in a couple of years, we raped em..
Conversation went something like this... this AM:
War Business: Boehner, you summmbitch... what the fuck you dickin 'round with them for boy ?
Boehner: Sorry sir, I'll get right on it. No, War, er Defense cuts...
War Business: Yo ass if not, you summmbitch.
Boehner: Yes sir.
War Business: No joke, you asshole.
Effin blew out my ( JAVA ) Snowball!!! Midflight.
Now Boehner is in the way. He doesn't want to cut military spending. Well, that makes sense, since we all know that military budgets have been cut to the bone and there is no waste or corruption, RIGHT? These people are not serving us. In fact, they are barely aware of our existence. The least we can do is send them an email, in the vain hope that it will crash their web connection. This is my email to Boehner:
"Do you seriously believe that defense spending can't be cut? The evidence suggests that defense spending is completely out of control, and filled with corruption and cronyism. We aren't even spending the money in the US anymore. We are buying from corrupt vendors in Dubai, for god's sake. What is the US government up to? Does everyone in DC hate the American people? We are being sold out and undermined by both parties. Is it government by the highest bidder? That's my guess."
Maybe it would be good if some of you would email him. Maybe he thinks we're all in lala land. You don't have to tell me that it's wasted effort; I know that. But at least I will feel less guilty when the SHTF.
check out that drawing of a financial dollar black hole on the drudgereport..........ha ha ha ..........cool....
Priceless/ skidmark on the capital steps!!! LOL... HPD stay arced!
Speaker Hard-On should note that the military's budget is over $700 billion a year and consumes as much of it as Medicare. And that's not including the billions more in appropriations for America's wars in (insert Muslim country here). The fact is, the Pentagon's budget is an entitlement program, as the defense industry has come to expect, quite rightly, that the US government will grossly misallocate money for new lines of fighter jets, helicopters, and tanks, etc., that will not only never be used, but will be obsolete in very short order. Kind of like how Steve Jobs keeps shitting out new iPad versions because Bill Dudley donated the previous ones to feed the homeless.
Military Keynesianism will be the downfall of the US because A) it can't afford this boondoggle anymore, and B) gives the US a misguided sense of military superiority that makes it more likely--not less-to engage in wars of choice, which also it cannot afford. The buildup of the imperial state must necessarily come at the expense of the domestic economy. In the end, neither will be sustainable.
Quick
say something
any thing
Asia is about to open...
unicorn porn..
Uhhh , errrr, > fat bastard> anal probes?} !!!!
Can we trade!!! Hire a head shrinker!!! (: intended... Let's trade ?
Little { RED RIDING HOOD } Has come to pass... you shellac meisters!!!
Better not be talking about cutting entitlements as long as we're spending hundreds of billions on defense, sending billions to the IMF to bail out Greece and god knows what else. As long as we're sending money to Palestine and Pakistan and every other POS country in the world. As long as we're funding the Department of Commerce? The EPA, Department of Education etc., etc. Bring the boys home from those 120 countries and let's just defend our own country and we can cut the defense budget by 50% at the very least.
Billions? How about trillions? The US taxpayer is bankrolling the new European nanny state.
http://www.zerohedge.com/article/true-elephant-room-appears-trillions-commercial-and-retail-loans-europes-insolvent-countries
No taxation without representation, right?
Congressman Raul Labrador from Idaho was brilliant on Meet the Press this AM.
He was on with other guests Tom Brokaw, Jim Cramer, and some liberal former female govenor from MI whose name
I refuse to remember.
Brokaw threw him a speed ball that would have struck out anyone less capable. Brokaw: 'Your state receives $1.28 in federal funds
for every $1 sent to DC in tax revenue. How will you cut?" Raul told him that Idahoan's spent 30% on every federal dollar
received just trying to keep up with the regulations that went along with the money and that his state would be better off
without the money.
When the host and others tried to defend the president. Raul interupted them and stated that there was no defense possible for the
extreme lack of leadership that we were experiencing with him at the helm.
Frikin left them speechless!
This thread is so passe... i have altitude sickness... Blow up the response box " TYLER" I shouldn't have to use my browser!
{ YEN} Loyal...
He's Balking because he knows that Obama is trying to set up a situation that you take it or be blamed for not going along. And now Boehner must get the congress to agree to the vote if it passes the senate tomorrow.
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