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Deja Vu All Over Again: Total US Debt Passes Debt Ceiling... In Under One Month Since Extension

Tyler Durden's picture




 

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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Fri, 09/02/2011 - 16:31 | 1627776 rajat_bhatia
rajat_bhatia's picture

Fuck u America!

Fri, 09/02/2011 - 16:34 | 1627792 dwdollar
Fri, 09/02/2011 - 16:40 | 1627826 RacerX
RacerX's picture

"Bed Bath and Beyond.. umm".. Lol

Fri, 09/02/2011 - 18:40 | 1628336 andybev01
andybev01's picture

I prefer Bed Bath & Beyonce.

Fri, 09/02/2011 - 17:19 | 1628024 max2205
max2205's picture

When is the next televised fight between POTUS and the 535 retards?

Fri, 09/02/2011 - 17:38 | 1628120 f16hoser
Sat, 09/03/2011 - 02:08 | 1629051 Citxmech
Citxmech's picture

More like WWF.  The fix is so in, everytime.

Wed, 09/07/2011 - 15:12 | 1643219 SokPOTUS
SokPOTUS's picture

Hahaha...Pay-Per-View.

Fri, 09/02/2011 - 16:44 | 1627842 crazyjsmith
crazyjsmith's picture

STFU Rajat, pay your Cow tax and get the fuck back in line.

Fri, 09/02/2011 - 16:47 | 1627850 Sophist Economicus
Sophist Economicus's picture

Uhmmm, no.  I think this means, Fuck YOU world....

 

Just trying to help a foreign coksuker like you out, brother....

Fri, 09/02/2011 - 17:03 | 1627935 JLee2027
JLee2027's picture

Fuck u America!

How soon we forget that Bobby Fischer (your icon) was from Chicago as well.

Fri, 09/02/2011 - 17:10 | 1627958 fiddler_on_the_roof
fiddler_on_the_roof's picture

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.

Fri, 09/02/2011 - 17:15 | 1627995 crazyjsmith
crazyjsmith's picture

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. 

Fri, 09/02/2011 - 17:32 | 1628089 Rynak
Rynak's picture

Nice progress on seeing through the mindcage of nations. Next up: see through the myth of nurture vs. nature.

Fri, 09/02/2011 - 20:02 | 1628301 Rynak
Rynak's picture

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.

Fri, 09/02/2011 - 21:32 | 1628687 Buck Johnson
Buck Johnson's picture

Yep, pretty much and when it ends it will destroy alot of people.

Fri, 09/02/2011 - 22:08 | 1628741 Rynak
Rynak's picture

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.

Fri, 09/02/2011 - 21:51 | 1628720 Rynak
Rynak's picture

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!

Fri, 09/02/2011 - 22:28 | 1628780 blunderdog
blunderdog's picture

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.

Fri, 09/02/2011 - 22:45 | 1628810 Diogenes
Diogenes's picture

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

Fri, 09/02/2011 - 22:59 | 1628825 Rynak
Rynak's picture

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.

Sat, 09/03/2011 - 02:37 | 1629082 John_Coltrane
John_Coltrane's picture

" 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"

Sat, 09/03/2011 - 14:51 | 1629786 blunderdog
blunderdog's picture

"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.

Sat, 09/03/2011 - 11:51 | 1629495 Are you kidding
Are you kidding's picture

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.

Sat, 09/03/2011 - 17:41 | 1630037 Rynak
Rynak's picture

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.

Fri, 09/02/2011 - 17:43 | 1628146 zerozulu
zerozulu's picture

Looks like India lost hope of a super-power.

Fri, 09/02/2011 - 19:26 | 1628451 MFL8240
MFL8240's picture

Fuck you asshole!

Fri, 09/02/2011 - 22:20 | 1628773 bigelkhorn
bigelkhorn's picture

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. 

Sat, 09/03/2011 - 08:35 | 1629270 mailll
mailll's picture

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.

 

Sat, 09/03/2011 - 09:21 | 1629313 bharat
bharat's picture

Fuck you rajat. And I'm an Indian.

There are 27+ marks for his post - who are they?

Fri, 09/02/2011 - 16:31 | 1627781 dwdollar
dwdollar's picture

Sounds like time for a S&P upgrade!!!

Fri, 09/02/2011 - 16:38 | 1627819 tekhneek
tekhneek's picture

Or a debt ceiling increase.

Fri, 09/02/2011 - 16:43 | 1627836 DoChenRollingBearing
DoChenRollingBearing's picture

Coming to a corrupt country near us soon.

:(

Fri, 09/02/2011 - 19:52 | 1628452 Bring the Gold
Bring the Gold's picture

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?

Fri, 09/02/2011 - 20:09 | 1628560 DoChenRollingBearing
DoChenRollingBearing's picture

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.

Fri, 09/02/2011 - 22:06 | 1628742 mick_richfield
mick_richfield's picture

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.

 

Fri, 09/02/2011 - 22:58 | 1628824 Diogenes
Diogenes's picture

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.

Sat, 09/03/2011 - 13:07 | 1629605 Bring the Gold
Bring the Gold's picture

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.

Sat, 09/03/2011 - 15:05 | 1629802 DoChenRollingBearing
DoChenRollingBearing's picture

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!

Fri, 09/02/2011 - 21:57 | 1628733 mick_richfield
mick_richfield's picture

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'.

Fri, 09/02/2011 - 23:04 | 1628836 Prometheus418
Prometheus418's picture

"Suggestion"

Sat, 09/03/2011 - 01:20 | 1628949 saulysw
saulysw's picture

I vote for "mirage" or possibly "hallucination".

Sat, 09/03/2011 - 10:06 | 1629354 LoneCapitalist
LoneCapitalist's picture

"Target"

Sun, 09/04/2011 - 12:11 | 1631407 RSloane
RSloane's picture

I vote for mirage!

Fri, 09/02/2011 - 16:51 | 1627872 LoneStarHog
LoneStarHog's picture

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.

Fri, 09/02/2011 - 17:00 | 1627918 navy62802
navy62802's picture

I think we're saving that for roughly September or October 2012.

Fri, 09/02/2011 - 16:31 | 1627783 inkarri9
inkarri9's picture

Rally On!  Too soon?

Fri, 09/02/2011 - 16:53 | 1627879 JW n FL
JW n FL's picture

 

 

LOL!!

Fri, 09/02/2011 - 16:33 | 1627784 Dick Darlington
Dick Darlington's picture

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!

Fri, 09/02/2011 - 16:43 | 1627835 Bring the Gold
Bring the Gold's picture

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.

Fri, 09/02/2011 - 17:48 | 1628163 Mactheknife
Mactheknife's picture

Damn...400 bil in one month and I didn't even get a T-shirt.  Anybody get a ball cap or something?

Sat, 09/03/2011 - 13:23 | 1629632 Bring the Gold
Bring the Gold's picture

Or at least a debt thong?

Fri, 09/02/2011 - 16:32 | 1627787 slow_roast
slow_roast's picture

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.

 

Fri, 09/02/2011 - 17:09 | 1627950 toady
toady's picture

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?

Fri, 09/02/2011 - 17:16 | 1628004 Raymond Reason
Raymond Reason's picture

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. 

Fri, 09/02/2011 - 16:33 | 1627788 ForWhomTheTollBuilds
ForWhomTheTollBuilds's picture

I'm as angry as anyone else about the world I love being destroyed, but this is pretty funny on a Friday.

Fri, 09/02/2011 - 16:33 | 1627789 uno
uno's picture

chances of the MSM mentioning this 1 in 14.697 trillion

Fri, 09/02/2011 - 16:38 | 1627815 marcusfenix
marcusfenix's picture

...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...

Sat, 09/03/2011 - 13:31 | 1629652 Bring the Gold
Bring the Gold's picture

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.

Fri, 09/02/2011 - 16:33 | 1627790 Astute Investor
Astute Investor's picture

The faster you fall behind the more time you have to catch-up.

Fri, 09/02/2011 - 16:34 | 1627795 tawdzilla
tawdzilla's picture

 

 

Dear Constituent:

Oops, I did it again.

Signed,

Your Congressman

Fri, 09/02/2011 - 16:58 | 1627901 Nascent_Variable
Nascent_Variable's picture

P.S.:  Please send money.  I blew all mine on coke and hookers at the last oil company junket.

Fri, 09/02/2011 - 16:34 | 1627796 cossack55
cossack55's picture

They are only numbers. amerikans do not like numbers, unless they are rolled in Zig Zag.

Fri, 09/02/2011 - 16:45 | 1627843 AGuy
AGuy's picture

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

Fri, 09/02/2011 - 19:30 | 1628460 FilbertH
FilbertH's picture

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?

Sat, 09/03/2011 - 13:35 | 1629659 Bring the Gold
Bring the Gold's picture

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.

Fri, 09/02/2011 - 16:42 | 1627799 CClarity
CClarity's picture

I wish this roller coaster was more fun.  View isn't even that great from the top.  And the line is too long.  

 

Fri, 09/02/2011 - 16:56 | 1627891 Ausperity
Ausperity's picture

Too bad this is only the beginning...

Fri, 09/02/2011 - 17:13 | 1627974 toady
toady's picture

I think it gets scarier at the end.

Fri, 09/02/2011 - 16:36 | 1627806 jstalin
jstalin's picture

Balance transfer, Bitchez!!!

Fri, 09/02/2011 - 16:36 | 1627808 buzzsaw99
buzzsaw99's picture

I'm sure income tax revenue will pick up in the coming months as the depression wears on. :roll:

Fri, 09/02/2011 - 17:06 | 1627939 scatterbrains
scatterbrains's picture

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.

Fri, 09/02/2011 - 16:43 | 1627810 CClarity
CClarity's picture

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.

Fri, 09/02/2011 - 16:54 | 1627811 Justaman
Justaman's picture

Break out the champagne, bitchez!

Fri, 09/02/2011 - 16:37 | 1627813 Everybodys All ...
Everybodys All American's picture

Timmy Geithner your toast.

Fri, 09/02/2011 - 16:38 | 1627817 Payable on Death
Payable on Death's picture

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...

Fri, 09/02/2011 - 16:39 | 1627824 Westcoastliberal
Westcoastliberal's picture

There has to be more money, I still have checks!

Fri, 09/02/2011 - 16:42 | 1627827 kahunabear
kahunabear's picture

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.

Fri, 09/02/2011 - 16:41 | 1627829 misterc
misterc's picture

Obamanomics

Fri, 09/02/2011 - 16:47 | 1627853 JW n FL
JW n FL's picture

 

 

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/

 

Fri, 09/02/2011 - 16:54 | 1627883 CrockettAlmanac.com
CrockettAlmanac.com's picture

Better to start a petition to release the funds to the taxpayers from whom the money was stolen in the first place.

Fri, 09/02/2011 - 17:16 | 1628001 JW n FL
JW n FL's picture

 

 

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.

Fri, 09/02/2011 - 23:47 | 1628903 StychoKiller
StychoKiller's picture

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...

Fri, 09/02/2011 - 23:50 | 1628905 cranky-old-geezer
cranky-old-geezer's picture

 

 

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.

Sat, 09/03/2011 - 15:08 | 1629806 DoChenRollingBearing
DoChenRollingBearing's picture

Nothing spared.  That's the answer.

+ $1880 and green for you cranky!

Wed, 09/07/2011 - 15:20 | 1643246 SokPOTUS
SokPOTUS's picture

Hell, 50% won't even balance the Budget.

Fri, 09/02/2011 - 16:42 | 1627832 JW n FL
JW n FL's picture

 

 

http://www.youtube.com/watch?v=R7yfISlGLNU

 

floating that boat with dollar bills given to wall street!

every week!

Fri, 09/02/2011 - 16:42 | 1627833 caerus
caerus's picture

U-S-A!!! U-S-A!!!

Fri, 09/02/2011 - 16:49 | 1627864 tekhneek
tekhneek's picture

"being a dickhead's cool!"

http://www.youtube.com/watch?v=lVmmYMwFj1I

Fri, 09/02/2011 - 16:42 | 1627834 scratch_and_sniff
scratch_and_sniff's picture

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.

Fri, 09/02/2011 - 20:00 | 1628531 karzai_luver
karzai_luver's picture

live long enough and you will look back and laugh at what masqueraded as insane.

 

hahah

 

trust this.

 

 

Wed, 09/07/2011 - 18:56 | 1643948 Use of Weapons
Use of Weapons's picture

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.

 

 

Fri, 09/02/2011 - 16:44 | 1627837 marcusfenix
marcusfenix's picture

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...

Fri, 09/02/2011 - 16:44 | 1627840 chet
chet's picture

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.

Fri, 09/02/2011 - 16:48 | 1627855 AGuy
AGuy's picture

"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!

 

Fri, 09/02/2011 - 16:54 | 1627885 chet
chet's picture

I was using "we" to talk about the other 99% of us.  Let me guess.  You'll be cozy in your Y2K bunker?

Fri, 09/02/2011 - 17:03 | 1627928 sun tzu
sun tzu's picture

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

Fri, 09/02/2011 - 17:12 | 1627968 chet
chet's picture

"Everyone else will be fucked in varying degrees"

Exactly.

Fri, 09/02/2011 - 20:02 | 1628537 karzai_luver
karzai_luver's picture

if the glove fits ..........

Fri, 09/02/2011 - 17:20 | 1628030 Raymond Reason
Raymond Reason's picture

Reserve currency status might produce different results?

Fri, 09/02/2011 - 17:25 | 1628056 toady
toady's picture

Actually, several million Germans, Argentines, and Zimbabwans who went through these things did not survive.

But whats a couple million, give or take?

Fri, 09/02/2011 - 17:26 | 1628067 Falcon15
Falcon15's picture

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.

Sun, 09/04/2011 - 16:20 | 1631947 moonstears
moonstears's picture

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).

Sat, 09/03/2011 - 21:03 | 1630439 oa92000
oa92000's picture

short SPY

Fri, 09/02/2011 - 18:59 | 1628386 AGuy
AGuy's picture

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!

Fri, 09/02/2011 - 21:06 | 1628648 Wannabee
Wannabee's picture

@Aguy,

Wild guess, you work for GS...

Fri, 09/02/2011 - 16:53 | 1627880 plocequ1
plocequ1's picture

Sounds like you needs to get laid

Fri, 09/02/2011 - 16:55 | 1627887 Schwetty Shorts
Schwetty Shorts's picture

Just hedge your effin' PM's with the liquor and all will be well.

Fri, 09/02/2011 - 16:55 | 1627888 DoChenRollingBearing
DoChenRollingBearing's picture

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.

Fri, 09/02/2011 - 17:05 | 1627937 sun tzu
sun tzu's picture

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.

Fri, 09/02/2011 - 17:26 | 1628066 DoChenRollingBearing
DoChenRollingBearing's picture

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?

Fri, 09/02/2011 - 17:32 | 1628093 Raymond Reason
Raymond Reason's picture

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. 

Sun, 09/04/2011 - 12:26 | 1631421 RSloane
RSloane's picture

"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.

 

 

 

Fri, 09/02/2011 - 19:08 | 1628409 FreedomGuy
FreedomGuy's picture

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.

Fri, 09/02/2011 - 16:46 | 1627849 WhoMe
WhoMe's picture

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.

Wed, 09/07/2011 - 19:04 | 1643969 Use of Weapons
Use of Weapons's picture

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

  • 1. Note: I am not a trader, and am merely repeating / bleating what I've read - my information could be totally wrong / useless / disinfo at this stage in the game. I merely answer honest questions to the best of my ability, and since you're not paying for it, guess what? Might be worthless.
Fri, 09/02/2011 - 16:47 | 1627852 Brian
Brian's picture

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

Fri, 09/02/2011 - 16:57 | 1627869 plocequ1
plocequ1's picture

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.

Fri, 09/02/2011 - 20:39 | 1628611 Waterfallsparkles
Waterfallsparkles's picture

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.

Sat, 09/03/2011 - 02:14 | 1629054 HungrySeagull
HungrySeagull's picture

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.

 

Fri, 09/02/2011 - 16:51 | 1627871 Schwetty Shorts
Schwetty Shorts's picture

Does this mean Timmay has to start raiding govt "pension funds" again??

Fri, 09/02/2011 - 16:54 | 1627884 YesWeKahn
YesWeKahn's picture

lets print more, problem solved.

Fri, 09/02/2011 - 16:57 | 1627899 papaswamp
papaswamp's picture

No wonder they are suing everyone.

Fri, 09/02/2011 - 17:06 | 1627944 Homey Da Clown
Homey Da Clown's picture

oh, the good ole days when a measly 400 BILLION was the ANNUAL deficit.

 

Good times.

Fri, 09/02/2011 - 17:20 | 1628029 JB
JB's picture

Forget annual deficits, the national debt in 1971 was $400 billion.

Fri, 09/02/2011 - 17:08 | 1627948 Downtoolong
Downtoolong's picture

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.

Fri, 09/02/2011 - 17:08 | 1627949 sun tzu
sun tzu's picture

This calls for an $800 billion stimulus for shovel ready jobs. 

Fri, 09/02/2011 - 17:09 | 1627954 JB
JB's picture

Let them cut the entitlements. If they do, then Corp US is in breach, and we can sue for our sovereignty back.

Fri, 09/02/2011 - 17:12 | 1627966 stiler
stiler's picture

statutory debt limit


so they are breaking their own statutes, breaking the law.

But every hair is in place...

Fri, 09/02/2011 - 17:12 | 1627969 HedgeFun
HedgeFun's picture

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!

Fri, 09/02/2011 - 17:22 | 1628039 GoldenPath
GoldenPath's picture

The welfare state is dying, American hegemony is collapsing, but still we are in Denial.

Next up: Anger.

Fri, 09/02/2011 - 17:23 | 1628041 PulauHantu29
PulauHantu29's picture

More Free Stuff next Wednesday from Barry.....as we rocket toward $20 Trillion in Debt with no pause.

 

BOOOYAAAH!

Fri, 09/02/2011 - 17:24 | 1628049 GenX Investor
GenX Investor's picture

The time for honoring yourself will soon be at an end… Emperor.

Fri, 09/02/2011 - 17:28 | 1628059 jbc77
jbc77's picture

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?

Fri, 09/02/2011 - 17:29 | 1628081 lolmao500
lolmao500's picture

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.

Fri, 09/02/2011 - 17:48 | 1628158 Pool Shark
Pool Shark's picture

 

 

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...

Fri, 09/02/2011 - 17:50 | 1628180 Use of Weapons
Use of Weapons's picture

The KLF are impressed.

 

http://www.youtube.com/watch?v=2_GjZ7i4A6M

Fri, 09/02/2011 - 17:53 | 1628197 Bobbyrib
Bobbyrib's picture

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.

Fri, 09/02/2011 - 17:58 | 1628216 Iwanttoknow
Iwanttoknow's picture

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.

Fri, 09/02/2011 - 20:08 | 1628554 karzai_luver
karzai_luver's picture

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.

 

 

Fri, 09/02/2011 - 18:09 | 1628257 T-Bond
T-Bond's picture

So this is what going down in flames looks like...

Fri, 09/02/2011 - 18:19 | 1628282 DoChenRollingBearing
DoChenRollingBearing's picture

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.

Fri, 09/02/2011 - 18:59 | 1628384 blunderdog
blunderdog's picture

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?

Fri, 09/02/2011 - 19:09 | 1628411 abaccus
abaccus's picture

i wonder whythe msm didnt make a fuss abot like last time?not entertaining enough anymore?

Sat, 09/03/2011 - 01:33 | 1629003 TK7936
TK7936's picture

I get it now, the higher the rating, the higher the debt. Why doesnt anyone tell me these things ?

Sat, 09/03/2011 - 09:21 | 1629311 bugs_
bugs_'s picture

Whatever "we" let "them" spend will get spent out in a hurry now because "they" know the end of this nonsense is very close.

Sun, 09/04/2011 - 03:09 | 1631018 LucazBrewz
Sun, 09/04/2011 - 12:36 | 1631436 RSloane
RSloane's picture

Hey Lucaz. I do admire small business owners. March on!

Sun, 09/04/2011 - 03:13 | 1631022 Fips_OnTheSpot
Fips_OnTheSpot's picture

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? :-)

Sun, 09/04/2011 - 14:04 | 1631646 kalum
kalum's picture

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?

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