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Deja Vu All Over Again: Total US Debt Passes Debt Ceiling... In Under One Month Since Extension
Remember when one month ago the US, to much pomp and circumstance, not to mention one downgrade, announced a grand bargain raising the debt ceiling from $14.294 trillion to something much higher, with a stop gap intermediate ceiling of $14.694 trillion, or $400 billion more. Well, as of today, or less than a month since the expansion, total US debt is at $14.697 trillion. Yep - the total debt is again over the ceiling, which means the US debt increased by $400 billion in one month. Score one for fiscal prudence. And while the total debt subject to the limit is still slightly less, at $14.652, one week of Treasury auctions and will be time for Moody's to justify again why the US is a quadruple A credit.
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Fuck u America!
What?!?
http://www.youtube.com/watch?v=sWS-FoXbjVI
"Bed Bath and Beyond.. umm".. Lol
I prefer Bed Bath & Beyonce.
When is the next televised fight between POTUS and the 535 retards?
Carefull what you wish for: http://www.youtube.com/watch?v=ZdCEH1tcyNg&feature=player_embedded
More like WWF. The fix is so in, everytime.
Hahaha...Pay-Per-View.
STFU Rajat, pay your Cow tax and get the fuck back in line.
Uhmmm, no. I think this means, Fuck YOU world....
Just trying to help a foreign coksuker like you out, brother....
Fuck u America!
How soon we forget that Bobby Fischer (your icon) was from Chicago as well.
I don't think rajat_bhatia clone is Indian.
But anyway America has been F**k**g the world the past 80 yers via dollar seinorage.
The whole world had been fucking each other for much longer...If not us, someone else would be right there.
Human Nature is Human nature.
Nice progress on seeing through the mindcage of nations. Next up: see through the myth of nurture vs. nature.
K, guess i should explain that snide remark more, for those with a quick finger.
See, humans (and i define "human" as a "superculture", because that is how humans mostly define "human" themselves) are obsessed with thinking in XOR - either this, or that.... completely excluded are combinations of both, "something else", and especially *interactions* between both.
In the case of nature vs. nurture, the first idiocy in the premises, is that nurture of course is part of nature... so the label makes no sense to begin with. Okay, let's fix that, by calling it "genes vs. culture". Even then, there is not necessarily a "vs": Even for animals which show no strong signs of "culture", genes do not need to store all the information to make the outcome happen: Just "preprogram" a small bias, which in a typical environment will have certain consequences, and the being will "learn" the desired outcome by itself... without it involving only "genes" or only "learning". (one obvious example: Nearly all human individuals can walk - and yet, they need to learn how to walk. How would that happen, without "inborn" aspects (including physiology) AND learning aspects?).
That alone opens up the possibility, that a different environment, may result in different outcomes, even though a bias was preprogrammed (genes) - because that bias will be interpreted differently, depending on the environment (i.e., a baby born in space - absent outside counseling - may use its inborn physiology differently, than a baby growing up on earth. It will not learn how to walk, but instead how to use its body features most efficiently in a zero-g environment).
But the species of which humans are part of, is not restricted to plain "sleepwalking". It CAN (not "must") analyze its own behaviour, and because of this "metaprogram" how it handles "preprogrammed" (genes) biases. A popular example would be sexdrive. This even is a quite strong preprogrammed direction... and yet, even something as fundamental as this, is open to interpretation. I.e. sexdrive is "abducted" in current cultures, to associate it with all kinds of things, which have absolutely NOTHING to do with the original "instinct". And if you can do this, with something as fundamental and strong as sexdrive, how much "freedom" do humans theoretically have in handling less strong "instincts"?
Once you think this through, it becomes quite clear, that current human behaviour is NOT predetermined by "genes"... because there are so many alternative possibilities, how the "preprogrammed" stuff could be interpreted.....
At that point, you may throw up your hands, piss on everything you achieved so far, by subscribing to one of the extremes..... or you may ask your self: Am i perhaps searching at the completely wrong place? Is the "key" perhaps in a completely different aspect, than "nature vs. nurture"? And when you ask that question, you may make the leap, to treat "culture" as part of evolution... you may look at the history of humans.... how they became the dominant species on the planet.... and which environmental conditions (i.e. access to ressources and usage) allowed it to get to this point.... and what kind of culture that implies.
TL/DR? If you consider how humans got the global rank it has now, then there aren't many culture-styles left which could have brought them to where they are. Or even shorter: Humans became the dominant species of the planet, by being assholes AND technologically smart.... and now it turns out that the way they got here, is not sustainable. Analogy: A (cultural) pandemic.
Yep, pretty much and when it ends it will destroy alot of people.
Even though it may be "mean", i honestly hope that peoples "spirit" will be destroyed faster than they can come up with counter-lies, because if humans do not learn this evolutionay lesson very quickly, there will not be much left of "mankind".
Your strategy got you to where you are, but it sure as hell will not keep what you achieved. To phrase it in financial terms: You frontrun the entire planet, but to keep your profits, you have to switch to another strategy, because if you do not do so, you will not only ruin all your profits, but actually go bancrupt - just like the TBTF banks.
To the braindead parasite junkers: My main arguments:
1. Nature and nurture can complement each other. In fact, from an evolutionary POV, a combination of both is most efficient: By "preprogramming" (genes) only that which is necessary to result in an efficient outcome, relative to an assumed environment, you achive: A) minimum ressource usage regarding gene storage space (which is much smaller than people assume), and B) still keeping up the possibility, for the species to adapt to a changing envirnment. Or in short: If the usual environment is the case, i only need to store the barely neccessary "bootstrap" information, and let the being learn the conclusions by practice (i.e. How inborn biases (which includes as basic things as physiology: If your body allows you to do only certain things, then that puts a filter on how you learn to interact with your environment. (relevant: This HAS been already been experimentally confirmed for BOTH animals and humans! Animals as well as humans react to their inborn biases, depending on in which environment they grow up. To prove it with the aspect which current human culture is most obsessed with: Sexual attraction and associated goals, have changed throughout human history. Plus animals react to their inborn biases differently depending on in which environment they grow up (popular example: a dog growing up together with cats (which have completely opposite body language!) and dogs growing up with other dogs exclusively)
2. Culture is part of evolution. This for fucks sake almost is an axiom: Culture "develops", and the environment obviously has an influence on how cultures develop - if only because of availability of ressources. I don't even know how to strenghten this argument, because it is such a trueism. Culture logically CANNOT be seperate from evolution, simply because: A) culture develops, it isn't static, and B) How a culture CAN develop, depends on environmental limitations. If the environment doesn't allow certain possibilities, then ALL cultures in that environment, cannot develop that way, without going extinct!
Bottom line: If you disagree with THIS, then you're a fucking moron!
When most folks invoke the trope "human nature," it's intended as an excuse for all the worst parts of themselves that they lack the discipline to change.
I can hardly wait till someone comes along and says "You infidel! God planned it that way".
Rynak I think you are right, I'm just messing around
Actually, i think you have just summarized the root conflict of interest, without all the verbose words i used in my above posts: Considering one responsible for one's own decisions, vs. "outsourcing" them to external "gods" which "command" one to do as one behaves. Or in short: Personal responsibility for oneself.
Someone else told me to do so: I'm not responsible.
Or in short: Integrity and truthfullness, vs mental corruption.
" If you disagree with THIS, then you're a fucking moron!"
Wait, couldn't you agree with your interesting arguments and still be a fucking moron? Its not either or (XOR), just as you opined.
Logics a bitch, eh? That's why we're all hypocrits at heart and why confirmational bias is so hard to overcome.
What about the barber who shaves all men who don't shave themselves? Does he shave himself?
Answer: If and only if he doesn't.
In any sufficiently complex (i.e. real) system, there will be propositions that can neither be proved nor disproved. So we live with the uncertainly or start worshipping Gods who control everything.
As Dick Feynmann once opined: "I don't mind not knowing"
"If you disagree with THIS, then you're a fucking moron!"
Wait, couldn't you agree with your interesting arguments and still be a fucking moron? Its not either or (XOR), just as you opined.
You got that sentence wrong. "If A then B" is not "IFF A then B."
You must be rusty.
Culture and genes... So what does it mean when the African culture today...matches that of a million years ago? What does it mean of an Indian living a stone age existance? Are they evolutionarily behind too? Their failure to integrate into modern societies tells me there's something different about them. Genetically different. I've always thought the three races were different species. Not necessarilly catagorically...but by behavior...how we interact...more accurately, fail to interact.
I don't know enough about that specific case, to judge it. I'd however add two things:
I don't view evolution as a ladder - a one-way street. Evolution to me is not a thing... just a fancy way of saying, that stuff changes according to own intentions and the environment. However, those intentions and environments aren't identical everywhere - heck, they aren't even static - and so, how individual agents, and classes of agents (i.e. species) develop may vary - because their needs and circumstances vary.
As for cultures that live very different from how we live.... variety in cultures has originally been even higher.... the less "greedy" ones simply didn't survive or were assimilated, when the more "greedy" cultures came for a visit.
In a nutshell, what i think happened is that via technology, humans suddenly gained access to much more ressources than the global species balance was designed for at that time. So, basically a breakthrough. Thanks to this overabundance, cultures with greedy and parasitary strategies could "outspend" the others. That appeared to work, until there was nothing left to conquer anymore (except of their own kind), scarcity began to emerge... with both leading to infighting: Back then, we mainly preyed "the others", now with "the others" being dead or in submission, we mainly prey on each other.
Looks like India lost hope of a super-power.
Fuck you asshole!
What the hell?
You come in here and say EFF YOU AMERICA!?
what you don't realize is that it is not america, it is the bunch of elite the small group of people that are orginzing us, and who invented the collapse of america. So do not blame americans, they are just on the tail end of it. The elites plans have always been to create the solution first...then create the problem (credit crisis) adn now look what we have.
The guys from http://www.forecastfortomorrow.com are saying there is a another crisis coming. And that is scary, because they have been scarily accurate in the past. but there is nothing we can do, we are all under the control of the elite and shadow government. Dont blame american or americans...blame these group of evil elite who are manipulating the financial landscape for their own benefit.
I'm a day late on this one but here is something that might interest you. I find it very enlightening.
http://video.google.com/videoplay?docid=5541564304553695985#
The President only does as he is told. The Elite banking families tell him what to do.
Fuck you rajat. And I'm an Indian.
There are 27+ marks for his post - who are they?
Sounds like time for a S&P upgrade!!!
Or a debt ceiling increase.
Coming to a corrupt country near us soon.
:(
Wouldn't corruption imply conspiracy DoChen? Didn't you say those don't exist, at least not in "complex form"? So all these you know, complex financial instruments, are either not the result of a conspiracy or are not complex...right?
I should have been clearer. I do not believe the conspiracy theories that require large numbers of people to pull off, are REALLY BIG EVENTS, and yet kept secret. "Three can keep a secret if two of them are dead."
So, where ARE the aliens at Site 51?
If not Oswald, who killed JFK?
The Mossad pulled off 9/11?
THOSE are conspiracies that I don't believe. Too many people involved, word would get out.
---
Scams like derivatives, bankster bonuses, corruption, etc. of course are all over the place. We have counterfeiters in Peru making fake KOREAN bearings (not a whole lot of money in that). Faking American or Japanese or SKF of course would be far more profitable.
So, sure, complexity is often a feature of crime and corruption. It's that I just don't believe any of those big conspiracy theories that have a BIG impact and LOTS of participants.
I hope I explained this better.
I'm sorry, DCRB, I think you're wrong about the grand conspiracies.
First, there's clear historical precedent when a culture is sufficiently homogenous. Look at the Manhattan Project. Thousands of people were involved, tens of billions of equivalent 2011-dollars spent -- but it was kept absolutely secret for years and years.
Second -- the very best conspiracies are those that *everybody* is in on. Word has indeed gotten out about 9/11. Loud and clear. And the masses close their eyes, stop their ears and tell themselves that there is no evidence.
Our culture has many such vast, gaping deliberate blind areas -- while congratulating itself on being honest, open, and rational.
When I send my reports, the people of my time frankly think I'm making it up.
What makes you think they are secret? There is lots of info around if you want to look it up.
On the guilt of Lee Harvey Oswald. According to official Dallas police sources, Oswald was seen on the second floor of the school book depository building by Officer Marion Baker less than 2 minutes after he supposedly shot Kennedy from the sixth floor. They did a paraffin test which proved Oswald had not shot a rifle that day. And his fingerprints were not on the murder weapon.
Any decent lawyer could have gotten him off if he had lived to go on trial.
Maybe he was telling the truth when he said "I'm the patsy. I didn't shoot anybody".
Once the fix is in and the official story is drummed into the public who cares what a few eccentrics think. No one who matters will take any notice.
Yep, even Jackie O says she thought it was a conspiracy: http://www.thedailybeast.com/cheats/2011/08/07/explosive-jackie-o-tapes-to-be-released.html
Also there was the sceintific sound test that proved multiple rifles were fired which was upheld in court. The Warren Commission was full of holes and so forth and so on.
9/11 was OBVIOUSLY a complex conspiracy any way you slice it. It was either a complex conspiracy per the governments theories (there are more than one from .gov) or any of the alternate theories.
As to UFO's at area 51 that's just stupid. That's like when people talk about gold being a bubble and throw out whatever unrelated BS. It's meant to make the opposing argument look crazy. It's not a solid argument what soever and is a smear. It actually WEAKENS the argument of the person who derisively throws it out as it shows they are trying to discredit the other person rather than their argument.
Mick, Diogenes, Bring,
I just doubt them that's all. I have not dug around any of the grand conpsiracies enough to be sure, nor enough to back up my beliefs with links to solid sources.
Good point re the Manhattan Project, lots of people involved there as well as BIG STAKES.
OK, UNCLE! I will leave the conspiracies theories subject alone, as there are enough who believe them (some of them anyway) who have done their homework, which I have not.
Good weekend!
You know, it just occurred to me -- if it keeps receding every time we approach -- I really don't think 'ceiling' is the right word.
'Level' maybe.
Or 'target'.
"Suggestion"
I vote for "mirage" or possibly "hallucination".
"Target"
I vote for mirage!
Can't happen...Obummer made sure the CEO of Shit & Pee was fired and one of his cronies is in charge...Watch for an upgrade.
I think we're saving that for roughly September or October 2012.
Rally On! Too soon?
LOL!!
Greek style fiscal prudence brought to You by Timmah the Tiny and the rest of the asset bubble band. Be merry, bitchez!
P.S. Hope bonds really kick ass. Yes we can!
If only we could return to the fiscal restraint of W and Henry Paulson...oh wait...it's almost like BOTH parties are deeply captured and wasting time on partisan rhetoric is, well, wasting time.
P.S. Eff Obama and Bush may they rot in hell together.
Damn...400 bil in one month and I didn't even get a T-shirt. Anybody get a ball cap or something?
Or at least a debt thong?
This was clearly going to happen as the accounting tricks that allowed the debt ceiling debacle go on so long was unwound and borrowed money was paid back.
Thats what I am thinking...
Did they actually put the funds back in all those pensions they were raiding?
Or did they blow it all on hookers, blow, and QE?
Okay, thats whats going on. I thought we were burning through about 140 billion shortfall every month, so the rest of the unwind must be the interguber unwind.
I'm as angry as anyone else about the world I love being destroyed, but this is pretty funny on a Friday.
chances of the MSM mentioning this 1 in 14.697 trillion
...except for fox news who will hammer this to get the neocons stirred into a frenzy, because they actually believe this is all the current teleprompter in chiefs fault...
Well to be fair it IS Zero's fault along with Bush, Clinton, Bush I and Reagan. Hell the last president who wasn't actively fucking us all caught a bullet in the head. It's funny I wasn't real into JFK until I read about what he was doing with printing US dollars instead of FED notes, his plans to dissolve the FED and the CIA. Honestly JFK was the last president who gave a shit about us. Eisenhower also had balls, he just didn't really get what was going on until late in the game.
Pretty fucking sad that Eisenhower came out and explained a big chunk of what was going on as an outgoing PRESIDENT former Allied Commander who had all the credentials in the FUCKING WORLD and still the WWII Gen didn't give a shit or do anything about it. I guess the were tired after the Depression and WWII and just wanted to get along. If only they had realized those forces were also responsible for the 1920's boom and the depression maybe they would have got off their asses and done something.I guess in 1960 you had freedom and ever increasing wealth so it didn't seem like it was worth doing anything about it.
Pity they all seemed to condone the Kent state killings, Chicago Democratic convention beatings and so forth and so on rather than listening to their own kids. Of course the boomers selling out in the 1980's was also disappointing. As a non-boomer I will have to say what's saddest of all is you can't even sell out anymore without becoming a shock trooper for evil (investment banking, Xe trooper etc.). The selling out by the boomers was ultimately a selling out of future generations. I will say at least the boomers tried to shake things up, it just sucks that all we got for their efforts was a very cohesive co-intelpro propaganda matrix and police state.
Alas poor America and it's freedoms, we hardly knew ye until you were gone.
The faster you fall behind the more time you have to catch-up.
Dear Constituent:
Oops, I did it again.
Signed,
Your Congressman
P.S.: Please send money. I blew all mine on coke and hookers at the last oil company junket.
They are only numbers. amerikans do not like numbers, unless they are rolled in Zig Zag.
Perhaps this is why US public schools are dumbing down math courses. The truth is just too scarely for common americans to understand
"Its difficult to get a man to understand something when his job depends on not understanding it."
-Upton Sinclair
In order to teach important subjects such as Gay History, sacrifices have to be made. Besides, a student that knows something about math may come to understand the exponential function and apply it to economics. We can't have that now can we?
Actually the lack of Maths happening now is not anywhere NEAR as horrifying as the lack of Civics and History. I was in one of the last years that Civics was taught in my region (in my mid-thirties now) and the History we were taught was of course a bunch of Ra Ra bullshit that conveniently glossed over the key era of the Reconstruction to 1930. It was like civil war...skip to depression with no explanaition of WHY it happened and then lets spend weeks and weeks talking about the one truly great thing the US did...WW II and of course we will cut out things like the fire bombing of Dresden that might take off some of the gloss. There of course was ZERO discussion of monetary history.
I wish this roller coaster was more fun. View isn't even that great from the top. And the line is too long.
Too bad this is only the beginning...
I think it gets scarier at the end.
Balance transfer, Bitchez!!!
I'm sure income tax revenue will pick up in the coming months as the depression wears on. :roll:
I would imagine tax revenue will get a decent bump up once they slap a sales/holding/cap gains/ tax-duty-registration-finger print scan fee for those they can determine hold physical pm's based on dealer sales receipts and or snitch info.
Gotta be more like a bank and have tons of this stuff off balance sheet, no marks to market. Think they'll pass a new "rule" soon so that US Treasury debt is accounted for otherwise => Actual public debt issued so far is only subject to the 70% rule, so plenty more room under the debt ceiling. /Sarc off now.
Break out the champagne, bitchez!
Timmy Geithner your toast.
The debt problem is out there in the culture. From the land of Hoenig:
http://www.fox4kc.com/news/morningnews/wdaf-giant-boxes-what-are-those-b...
There has to be more money, I still have checks!
Easy answer!!!
Lower rates and more government spending. Let's get lenders lending and workers working!
What better way to do it than shit interest for lenders and paying workers to not produce???
We have some smart cookies at the fed and in the oval office.
Obamanomics
go back to huffington and finger paint with your own shit.
there is NO difference between red or blue..
either way social security is getting torpedoed!!
Subject: Taking hostages in a hurricane?
Dear Friend,
The waters have just begun to recede in Vermont. New Jersey is still reeling. North Carolina is just starting to pick up the pieces. But Republican House Majority Leader Eric Cantor is already taking Hurricane Irene's victims hostage.
Truly, Mr. Cantor has no shame. It's outrageous to take advantage of the urgent needs of hurricane survivors in order to advance his radical crusade to cut Medicare, Medicaid and Social Security. But that's exactly what one of the top Republicans in Congressional leadership is doing with his refusal to allocate money to disaster relief unless Congress first offsets that money with cuts to vital government programs.
I just signed a petition telling Eric Cantor to release the hostages and stop blocking funds for urgently needed disaster relief. You should sign the petition too. Click below to take action.
http://act.credoaction.com/campaign/hurricane_hostages/?r_by=26640-4136952-0dcX88x&rc=paste2
Look Austerity to save us ALL!
well, except Vermont!! fuck them!! they should have got a boat!
more for ME! and less for them loserz!
$16 Trillion Dollars???
http://info.publicintelligence.net/GAO-FedAudit.pdf
PLUS!!!
Wall Street Aristocracy Got $1.2 Trillion in Fed’s Secret Loans
http://www.bloomberg.com/news/2011-08-21/wall-street-aristocracy-got-1-2-trillion-in-fed-s-secret-loans.html
PLUS!!!
SEC Covering Up Wall Street Crimes?
http://www.rollingstone.com/politics/news/is-the-sec-covering-up-wall-street-crimes-20110817
Plus!!!
How about the $2.5 Trillion in Social Security Bailouts??
http://moneywatch.bnet.com/retirement-planning/video/good-news-on-social-security/478373/
Better to start a petition to release the funds to the taxpayers from whom the money was stolen in the first place.
better to cut away the cancer of corruption that has spread through out Washington DC..
Law Enforcement can NOT Perform!
so? someone will have to up hold the Law of this Country.. sooner or later.
What, no McDonald's or daycare centers around for you to spray with lead? Here's a thought: rent a small plane and fly it into an IRS building near you...
either way social security is getting torpedoed!!
Anyone bitching about government spending yet wanting social security protected is a fucking two-faced hypocrite.
Slash govt spening INCLUDING social security and EVERY GOD DAMN THING ELSE, medicare. medicaid, welfare, defense, ALL OF IT.
50% ACROSS THE BOARD, NOTHING SPARED.
Nothing spared. That's the answer.
+ $1880 and green for you cranky!
Hell, 50% won't even balance the Budget.
http://www.youtube.com/watch?v=R7yfISlGLNU
floating that boat with dollar bills given to wall street!
every week!
U-S-A!!! U-S-A!!!
"being a dickhead's cool!"
http://www.youtube.com/watch?v=lVmmYMwFj1I
Ever notice when someone laughs because of shock after hearing bad news, like when they are told their mother has just died, or something equally horrendous, that they inexplicably bust out laughing due to nerves and general psychological meltdown, or perhaps after a car crash when they crawl out of the wreckage and all of a sudden find themselves in fits of laughter(shut up, it happens, ive seen it)....thats what i feel like after reading this post - i know its all gone horribly wrong, but there is something amusing about it. Maybe I’ve just lost it, or maybe the world is more insane than I ever gave it credit for.
live long enough and you will look back and laugh at what masqueraded as insane.
hahah
trust this.
You're entirely correct.
In Asian cultures, extreme emotional/social discomfort or stress often leads the afflicted to grin or smile as an entirely passive defensive mechanism. This caused numerous atrocities in Vietnam, as US Marines wrongly thought the 'natives' were enjoying their suffering, and the more retribution they inflicted, the more smiles and grins they got.
it seems like just yesterday that the white house was telling us that the economy was going to grow at plus 2%, unemployment was going to fall to 8.8% and the green shoots were really, really close sprouting...oh wait, that was just yesterday...
We are so fucked.
And we're about to start debate on the "continuing resolution" that keeps the government funded (absent a real budget). But I'm sure they'll be no political turmoil involved there.
We are so fucked. And having a bit of PM to ones name is small solace.
"We are so f*cked"
Please use "I am so f*cked" instead. Not all of us are dependant on US gov't finances or the state of the US economy!
I was using "we" to talk about the other 99% of us. Let me guess. You'll be cozy in your Y2K bunker?
The Germans, Argentines, Zimbaweans etc all went through the same thing and survived without a bunker. The crooked government and Wall St ponzi will come tumbling down and anyone who depends on handouts will be fucked the hardest. Everyone else will be fucked in varying degrees
"Everyone else will be fucked in varying degrees"
Exactly.
if the glove fits ..........
Reserve currency status might produce different results?
Actually, several million Germans, Argentines, and Zimbabwans who went through these things did not survive.
But whats a couple million, give or take?
You are still missing the big picture there Sun. When Germany, Argentina, Zimbabwe went crash, the US was a "solid economic power" (I am trying not to laugh as I type that), and the fallout was minimal worldwide. Crash the entire US Economy, and the WORLD crashes with us. I agree, in part that the Goobs and the Ball Street ponzi will be screwed. However every single state that is dependant on Federal funding to keep its basic infrastructure running loses that funding? What about when a welfare mom gets the equivalent of $0.17 on their EBT cards and can't even buy a pound of beans for her 5 screamin hungry rug rats? Multiply that by 44 Million households. Lord save us all.
Even ol Alan Greensuck spoke quite openly : America will never go broke, we will just print more money. So what’s perhaps more likely is that the U.S. government will inflate its way out of debt by simply printing more money and thus devaluing everyone’s cash. This will, in all likelihood, create rampant hyperinflation, thus devaluing all bonds and creating the same effect as the U.S. government defaulting on their debt. The only difference is that they take all bonds down with them in this case. See, point in fact, when our bonds go bust, foriegn countries lose their asses. The entire worldwide ponzi unwinds at ludicrous speed. I SEE PLAID!
China will SO bend the US over and start humping.
Falcon, I would hope, Sir, the many, many,many,many tax doooolars we "donate" to the world, would cease to flow, before the state funds do. If the debt becomes "too burdensome" I agree allowing a strong price inflate (a monetary issue), is an option which could lead to hyper inflate(a confidence issue in said devalued dollars).
short SPY
1. The US is the all of the world. the US only about 5% of the population. many People in the world live there entire lives without access to western capital (Africa, large parts of Asia, etc). The US and Europe could cease to exists and they would not notice or care. If Europe and the US disappear is very likely that a large portion of the population would have a better standard of living.
2. Lots of people have seen the crisis for years or even decades and have been working towards become self-reliant. Food, Water, Shelter can all addressed without the need for gov't.
3. I didn't build a Y2K bunker. I never considered Y2K an issue, but I did see that the market and economy was heading for a major crisis as the Dot-com bubble developed. Been preparing ever since.
4. Several nations in recent times have collapses (Collapse of the Soviet Union for instance). many of the former Soviet states are doing just fine or better without the Soviet Union. Like the Soviet Union, The US will break up and things will improve.
If you have debt, no land, no tools and a small amount of PM, and are dependant on a weekly paycheck, I would agree that you are indeed "f*cked". Hopefully you find the time and change your situation and stop wasting time by posting "we are f*cked". You can either waste your time complaining, or so something to change your situation. Your choice.
Best of Luck!
@Aguy,
Wild guess, you work for GS...
Sounds like you needs to get laid
Just hedge your effin' PM's with the liquor and all will be well.
chet, you are right. Even having a nice pile of PMs, in different places, is small solace when seeing our beloved country lose it all.
And I cannot blame it all on the Banksters (like many here do), WE are at fault too for having put up with this and voting these guys into office.
Green.
Beloved country? You mean our corrupt, imperialist, warmongering country. We have hordes of fucking morons cheering when our military bombs other countries that did nothing to us. The middle class is robbed blind and worry more about MTV, football or American Idol than protecting themselves and their families.
When I was younger I thought we had a right nice country here. In all my travels overseas, I took in their marvels, but was always happy to come back.
Now this place is sleazy. Yes, I know that there has always been corruption and sleaze, but I doubt ANYONE can say that America has NOT gotten much worse in recent years.
Sad for me. I'll watch a little football this season. What are MTV and American Idol?
You're right, the most of the citizens are not much better than the scum at the top. Our society, which is safety consious to the point of ludicrousness, will run over small children on sidewalks if someone whispers "shortage". The arrogance, the disresectfulness, the narcissism...all the social pschoses will be pressed in, shaken up and runneth over.
"The middle class is robbed blind and worry more about MTV, football or American Idol than protecting themselves and their families."
Because they have been taught to believe that the gov't will 'save' them as they move off of 99 weeks of an entitlement to another entitlement for life.
We will all share in the pain. I just moved back to my home state after a two year absence and got hit with a hefty property tax on my cars. This was followed by some kind of audit/correction of my 2007 tax return (2007!!!) for a few hundred bucks. Its my welcome back, i guess. It's not a lot of money but it made me realize that they must be hunting revenue in past returns. The tone was thoroughly autocratic demanding payment in ten days or massive documentation if challenged. I looked at the postmark and some overpaid slug clerk waited 7 of those days to mail it. However, the State is big, slow, dumb but strong as an ox and can make my life hell with no effort. I want to fight because I particularly hate that 1/3 of the bill is penalties and interest. The State pays us no interest on withholding and has a tax code no one can know. Mistakes are the same as fraud and get penalties. Get laid off and have to cash in your 401k? Penalties...while Goldman Sachsen gets interest and penalty free money from you to keep them rich.
My point the wolf of state is starving and it will come after us hard...not only the rich. Everyone who produces will be targeted. The State is ruthless and hard to fight. I hate being a subject/pawn/prole/tax serf passionately. The collectivist, crony capitalist, fascist state will not go down without taking all of with it to some degree.
Is there a place that keeps track of crazy volume spikes in intraday stocks? Someplace that just keeps track of what are more than likely ongoing HFT market stupidity? I know it's not anything too unusal and probably pretty common in today's HFT trading environment but I was watching APH which was meandering along with an average of around 1,000 to 5,000 shares trading per minute than all of a sudden at 12:50 took a huge 200,000 share volume spike which dropped the floor out for a .30c drop. Not large but anoying for anyone long. Is this just another annoying HFT anomaly? Again, probably you could pick intraday volume spike moves like this on every stock everyday but again very annoying and I for one will be cheering if the SEC ever becomes fair and balanced and bans the HFT casino.
ZH used to print such data from a MIT project, I believe.
Let's just say... that information is no longer public.
If you're looking for specifically HFT behaviour, the Nanex people are the best out there atm (as far as I know for public releases). Or get Bloom pro (pricey) which is able to cut down into the time frames that non-pro software cannot analyse.1
I haven't been paying close enough attention to know this, so maybe Tyler, you can help me answer this...
Did the Treasury unwind the intra-government borrowing that allowed them to fund beyond reaching the debt ceiling last time? Or, is this just a faux debt ceiling again, where Timmy can extend for a few months by using the same accounting gimics as last time?
If it's a hard ceiling this time, it the TSHF time, but if it's a "soft" limit, then I doubt there will be any press or attention paid to the matter.
--Brian
Who gives a fuck? I got my electricity back. Now excuse me. I have some devils paper ( Dollars ) that need spending. You all have a shitty holiday. I know i wont.
I got mine back also. My generator came in handy during the outage. But even with the Generator it does not work the well pump. So no water. Many in Maryland are still out. Something wrong with Constellation Energy.
Calvert Cliffs was reported shut down because of intake issues.
Spring garden and other plants on coal should have enough for a while. You all get a few coal trains via Harpers Ferry every so often.
We keep and maintain 4 55 gal barrels of water as a minimum and that is just toilet and bath water.
Does this mean Timmay has to start raiding govt "pension funds" again??
lets print more, problem solved.
No wonder they are suing everyone.
oh, the good ole days when a measly 400 BILLION was the ANNUAL deficit.
Good times.
Forget annual deficits, the national debt in 1971 was $400 billion.
This confirms it. The only thing Congress will have time to do from now on is argue over additional debt ceiling hikes. In a strange perverted way, that’s good news.
This calls for an $800 billion stimulus for shovel ready jobs.
Let them cut the entitlements. If they do, then Corp US is in breach, and we can sue for our sovereignty back.
statutory debt limit
so they are breaking their own statutes, breaking the law.
But every hair is in place...
Can't the US just refinance its debt with a new credit card with no payments for 12 months like everyone else?
PLUS we would get 14.6 trillion in rewards points!
The welfare state is dying, American hegemony is collapsing, but still we are in Denial.
Next up: Anger.
More Free Stuff next Wednesday from Barry.....as we rocket toward $20 Trillion in Debt with no pause.
BOOOYAAAH!
The time for honoring yourself will soon be at an end… Emperor.
Does mean we get to see the Gambino & Genovese crime families duke it out again over another ceiling raise?
Seriously though, they will have to pass another hike right? Will it play out in the public as it did last time?
Next likely dates for breaking the debt ceiling :
Second phase of the debt deal (15.194 trillion) reached on February 11, 2012. Third phase of the debt deal (16.694 trillion) reached on June 17, 2013.
Of course all that is subject to change due to bank bailouts, stimulus bills, wars, whatever scumgress thinks is nice to spend money on.
And the band plays on as the Republicrats and Demicans fight over who gets to be the next Captain of the Titanic, and the millionaires row off in their lifeboats as the 3rd class passengers finally notice the water level in steerage is rising...
The KLF are impressed.
http://www.youtube.com/watch?v=2_GjZ7i4A6M
http://www.timesfreepress.com/news/2011/aug/09/sp-downgrades-tva-bond-ra...
"Self-funded" TVA is $26B in debt. It's almost like another state.
Mr. Bhatia,this meaningless anger at America will simply not do.Blame the super elite,not the 98-99%.We are trying to have a semblance of a rational discouse here,not meaningless name calling.
Nice try sucker. If 50% were as you think the 99 are then the elite would have been delt with long ago.
You are willfully blind.
and you really don't give a crap long as you have your igadget and prius to run your cat to the vet.
So this is what going down in flames looks like...
I just posted a new article at my blog about the debt, gold vs platinum (gold's price slightly higher today) and the banks being sued. Anyone want a look? Send me a gmail at my name, please assure me you will behave, and I will send the link. I do this because I publish under my own name. 200 + of my readers are from Zerro Hedge. No $, no ads, no agenda. Just my views on stuff.
Well that's a relief. At least we didn't have to go through all the annoying DRAMA we saw last time.
Cut the jibber-jabber and get on with it, you know?
i wonder whythe msm didnt make a fuss abot like last time?not entertaining enough anymore?
I get it now, the higher the rating, the higher the debt. Why doesnt anyone tell me these things ?
Whatever "we" let "them" spend will get spent out in a hurry now because "they" know the end of this nonsense is very close.
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Why dont they use bananas as "reserve currency". Nice and green at harvesting and the half-value period is just about the same as for USD.
If I recall correctly, Obama wanted that 400bn so he doesnt need to take another debate before election time?
So how about election time NOW? :-)
Wow! I figured the increase would last for maybe 6 months. Figured the Reps went with an amount that would insure the problem would arise again before the elections, but ONE MONTH!! What now brown cow?