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Futures Plunge As Boehner Unable To Get Enough Votes, Essentially Cancelling Deficit Plan Vote, Dollar Plummets
Tonight just got that Lehman Brothersy feel to it. After hours of delays, Boehner just experienced a supreme dose of humiliation after he announcing he would cancel tonight's much delayed vote on his deficit plan after apparently being unable to get the requisite 218 votes to pass his plan though the Congress (forget that it would never pass Senate or the President). Boehner has said he will instead hold an emergency meeting with members Friday morning but the damage has been done. The result: the markets are now in absolutely terrified mode, with ES just plunging by over 12 points on the news, the dollar hitting fresh post March 17th lows against the Yen following the Fukushima explosion, and overall total chaos appears to be on the horizon. And with Europe about to open, all hell is about to break loose. Something tells us that the deer in headlights will be on prominent display tomorrow, not to mention the bear cavalry.
ES:
America could soon be technically insolvent. What to do... what to do.... I know, let's buy Treasurys!
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Price fixing of Gold and Silver will continue until the central banks and governments loose control. All that's needed is a spark and the quadrillion dollar derivative bonfire ignites and quickly spreads like a cancerous disease. Is this spark being provided on purpose through a debt rating downgrade which starts the derivative dominoes tipping? Are there really good guys on the inside working to finally end this criminal banker occupation?? Hey I can still hope.
I want to gather up all the human beings who can't spell 'lose' and murder them.
I'll do you first.
That's what happens. When cash is needed PMs are sold. They are serving their funtion as a store of value.
This should be no surprise. Good time to do some stocking up.
Yes, but we need a serious drop [plunge]. Not $5 off the all time high for gold.
Agreed. Only those meeting margins will be selling. I will be backing up the truck at my local coin shop for as many ASEs as I can buy.
Modern American Democracy frozen?
The Republic sleeps well tonight.
FM
Should I cancel my bridge game for tomorrow night?
<---- Nibiru will solve this problem!
<-----Ben Bernanke, Timothy Geithner, Obama and the Banksters will solve this problem!
smoke em if you got em
The debt limit will eventually pass and QE3 is likely a certainty. Despite all fundamental reasoning - tomorrow may be a BTFD day?
I hope as many of you as possible heeded advice from friends of GOLD and were able to buy ounces for insanely cheap.
I have BTFS since the 1980s. Things DO have a Lehmanesque feel about them now.
IT IS NOT TOO LATE TO BUY GOLD! In fact, this is but the Third Inning, or earlier.
Just not as crazy cheap as it was. But, the US$ and our corrupt system seem to be grinding to a halt.
Prepare... Not just gold, but in every way you can. BIG STORMS dead ahead.
Or....
Buy silver!
Mr L, someone does not like your advice nor mine!
EDIT:
Actually I am OK with silver, I own more (2 x) as many ounces as I do of gold. If you and the others who say SILVER will rise to the monn, that's OK with me too!
When nothing happens politically tomorrow or through the weekend we'll have a Lehman feeling on Sunday night.
Treasuries?
I'm torn now. I can argue a bullish and bearish case....equally. For everyone who freaks out about traditional "risk" and buys Treasuries tomorrow, there could be someone who freaks out about new "risk", sells Treasuries, and just stays in cash.
WRT Treasuries, I'm almost flat. I'll see which way the wind blows tomorrow and next week before taking a new position.
Update: the 5 year and 10 year have given up most of their gains.
And Washington want their war to distract the sheeple.
http://online.wsj.com/article/SB1000142405311190488830457647416015707095...
U.S. Sees Iranian, al Qaeda Alliance
America attacks / invades Iran, it's game over for America.
American air strikes (or Israeli) are possible. It would not be game over. BAD, but game not over.
NO WAY re land war with Iran. Rest easy on that.
PLENTY of other things to worry about.
They hit Iran even by air, bad things will happen to the world energy supply. But if they are ever going to get their hands on Iranian oil...they need a land invasion.
Only boots on the ground can secure and hold an oil field.
Smarter play is to talk to all the educated <30 year olds in Tehran and get the grassroots moving.
http://maxkeiser.com/2011/07/28/don%E2%80%99t-get-it-twisted-we-are-alre...
Congress critters will figure out a way to "resolve" this crisis although there will be collateral damage along the way. Amazing how they managed to fuck things up like this. I bet the banksters are foaming at the mouth at how congress is managing this mess. It goes to show that its getting real difficult to manage this crisis as there are too many fires popping up all over the place. Martenson said it best, that the next 20 years will have relatively flat and calm periods with the occassional scary drop like a step. This is one of those drop steps. But as time goes on we get closer to the big party, ie Americas greek moment. And we will have our greek moment, just not yet as the world relies on the US dollar reserve currency system. In the end it will fail and there will be many losers, especially angry pissed off ones.
Until then carry on soldiers and enjoy the shit show.
I watched this go down. ES dropped about 14 points within seconds. I thought I was watching Crude. Es doesn't normally move like that. A technical default will be good for the country. We'll still be able to pay our bills despite Timmy's rants. But do I hear impeachment coming?
>> do I hear impeachment coming?
What, on the grounds that it's a democrat in the white house? That's been reason enough in the past but I think the republicans will have to come up with something viable this time. Don't forget, Murdock is on the ropes.
For scare mongering for one. When it becomes obvious that we can still pay the interest on the debt and that the SS checks can still go out then Barry is going to have a lot to answer for, for scare mongering folks. This guy is walking a very thin line right now and playing a game that he is ill equipped to handle. If it weren't for the apapthy and retardation of most Americans and the MSM running defense for him then he would already have been impeached.
As someone who leans GOP on occasion I think Boehner has exposed himself as a pathetic piece of shit who should be run out of town for his pathetic attempts at so-called cuts. Looks like I'll be staying home next election.
Nice to see the Tea Party kick the RINO's ass for a change.
Green one coming your way!
I don't put much faith in the tea party. Once the RINO's go full on pyscho on them the media will rape them in public and the establishment will not give them a moment's rest. They'll cave.
It's interesting seeing them hold the line now, but it's obvious to anyone with a functioning brain that they're doing the right thing so far, which is scary, because it should be 90% of republicans drawing a line in the sand not just a few.
Plunge Protection Team (NY Fed) buying S&P futures before Europe opens is the only hope.
Why pass the resolution that you know the recalcitrant senators from Demoncrazy will categorically table it?
Why not pass the resolution just prior to the alleged deadline 8/2/2011 with a deadpan face to call the bluff of both the treasury and the senate? Let the senate kill it and be censured for the consequence. And let the treasury find another half trillion hide somewhere in the accounts of Federal Reserve.
The issue is not to pass a resolution that can save the treasury, the USA, or the callow joe-six-packs or retirees. The issue is to pass the resolution that will trap other parties to take the blame for it.
The survival of the re-election is the issue! All others are ostensible, specious, spurious and apocryphal!
Of course. This charade is nothing more than preventing Ollama from getting reelected and for placing blame on one party or the other. The senate needs to be disbanded imo so I would like to see it go down like you said. No such small group of men should wield such power and be coopted by corporate interests like they have. That shit they pulled with TARP was the final straw for me.
<----Buy ES now!!!
<----Sell everything!!!!
The ES selloff is very suspect as gold, silver, copper, crude, and platinum are barely moving.
Tyler's oft-mentioned "Compression Trade" is now on full tilt in the opposite direction, which means an epic rally in stocks is due any day now, or the commodities are going to crash.
Take your pick
By buy everything do you mean shiny and tangible ?
@ RobotT,
I'm all done now. I'm all diversified every way I can think of.
I do not trade, never got the hang of it. But, I am doing just fine with how I have prepared. I hope the same for you, I DID note your offer to sell your Monster Box was well timed. Don't sell it now. Buy some more gold, physical. You can do it...
GDP number tomorrow and it's supposed to blow. Still buying the dip?
seriously, Robob....when did you stop beating your wife?
Tyler,
Where are the compression trade posts? Does not serve the cause?
Agreee with you....Unfortunately, i cannot trade ES...
Asia market does not move much either??
Good observation, will be interesting to watch. I think best we will see from PMs is outperformance on the way down, but the correlation will be positive from everyone raising cash.
yeah... will be reminiscent of the good ol' days of recent past....all asset classes falling, some faster than others
i suspect you don't know shit
I'll take some shares of SDOW for tomorrow's madness......
Commodities will crash. It has already bigun as of yesterday.
The DXY at 74.35 and counting. Bullish CHart for USD since a Falling wedge broke to the upside yesterday. Hence the current crash on equities as well.
Which lead me to thiunk that interest rate are about to start going up for good IMO. Troubles ahead is what I see. The market will be running in every direction like a chicken without a head. At the end the chicken run fews second to simply end its run by falling on the ground.
I was going to go to sleep but things are getting exciting. I don't want to miss anything. I feel like running out to Walmart and buying a couple thousand rounds of ammo. Can't buy gold might as well buy lead.
BOUGHT today: 100 rounds EACH for my 9 mm Beretta and for my AK.
BOUGHT yesterday: more ounces of gold.
+1
(Yeah. I could have clicked the green arrow. Instead I chose the "+1" ---it's tradition.
I like your moves, DoChen.
You should roll yer own, DCRB. With all those bearings available you could create some nice 12 ga. buck and ball.
Wish I could afford as many 'rounds' of silver and gold as I have of ammo. The clinkety clink of either one on metal makes me smile though...
Time to get that full-auto conversion. After you do, that 100 rounds is not going to last very long.
100 rounds EACH for my 9 mm Beretta and for my AK.
Although it might seem to be, no offense dude but you would be better served having spent that money on more gold, more TZOO, or a few dozen internet porno subscriptions.
What the John Rambo types here fail to realize is they aren't going to beat the man. And if you are trying to stave off zombie hordes, you are better off being selective about where you reside rather than your choice of weapons.
[...you are better off being selective about where you reside rather than your choice of weapons.]---Vic Vinegar
DoChen already has that covered.
It almost seems real. The bonuses this year will be huge.
The laws of physics - such as we understand them - cannot be broken. Likewise are the laws of markets, differing only in that they will allow themselves to be bent, stretched, folded, spindled, and even algorithmized, but in the end the hidden hand has it's way - and it is about to do just that in the coming days and weeks.
agreed...we are in the midst of an economic maelstrom...glad someone noticed
Didn't the Senate Dems say they would not pass the Boner Bill?
Was them caving priced in, or something?
Blablabla, they are all gonna solve it in the end, Hank Paulson is going to kneel at Boehner, blow him and ask him to sign QE3+
Yes, the senile Harry said it would be DOA. Now it is there turn, and the house will turn that one down. What a country
Someone on the Tea Party team has been through negotiating seminars. As the world is getting ready to end, its the asshole that stands his ground in negotiations that gets the concessions. Risky shit and may not work in D.C....but my gut tells me we will see the counter-parties start to concede...even Reid.
Seriously, if these hard core guys won't even sign onto Boehner's bill, there is ZERO chance that anything that looks like Reid's gets any votes at all.
Bottom line is Boehner has to cut more. A lot more. And I suspect he will.
Still won't pass, there will have to be some new taxes in there too. And then it won't pass again...and on and on and on.
Gee, I haven't heard anything of dear leader's plan. Maybe we could work on the Reid plan also. Anyone know what they are?
About time for a false flag / terrorist attack, or a white girl to go missing on Nancy Grace so the serfs will be distracted while this all goes down.
What would that accomplish?
The average prole is already not paying attention.
Para- ABC did a story on nightline about a missing 11 yearold in NH- game on, economy off.
EURUSD is holding pretty steady, less than 40 points off the prenews levels. @nodhannum, no one has any real solutions, because the only real solutions requires pain, and lots of it.
I would rather have the tumor debulked and excised now than have it spread and kill the country later.
When was the last time a solution to anything came from D.C.?
Silly rabbit....tricks (x) are for kids. The Dems will convince the annointed one to use the 14th amendment to raise the debt ceiling knowing full well it will be challenged in court......which of course is just dandy as it will give them a month or so to work things out as it makes its way through the challenge. Will happen Sunday before Asia opens and all will be well.....until S&P downgrades Monday. Oh the fun.....more popcorn please.
stateside
The world is laughing while these morons make the "tough choices." Cutting 5% of a deficit over ten years. Imagine how it's going to be when they start making the "tough choices" and really start doing their job of balancing the budget.
Japan down -0.5%???
Talking head on FOX tonight says the WSJ is running a cover story, about 600 million flowing out of money markets this week, They are scaring the sheep folks, fear is back, you can smell it in the air
I feel oddly - calm. I think I'm ready.
Which website provides those charts???
They're from a Bloomberg terminal, yo. TD: best be careful with that shizzle, son; Bloomberg's got so few subscribers nowadays that they could figure out your identity by looking at data retrieval logs for that chart.
<---This Article gives Ron Paul a woody
<---This Article gives Eric Cantor erect nipples
cloner.
Do I feel a false flag coming on?
LOL! lolololol.
Tyler, I love you, man.
whattaya mean "could". IS!
Is a Ponzi scheme ever solvent? One might say the US has been insolvent since it gave the money creation power over to private bankers. DC is expert at kicking the can down the road, but the strategy of growing our way out of this mess is getting more and more ridiculous.
anybody watching the ES? support is being broken like a muthafucka...
...Dollar Plummets"...
A little over expressed to say the least.
Agreed. I think folks will be buying dollars tomorrow like flotation devices on the deck of the Titanic.
And Treasury bills...lol.
I'd say. But it should...
Lets see the ES futures down more than a dozen or 15 pts before everyone starts screaming the world is coming to an end and popping up Doomsday Nukes going off like over at some other sites. Too many too quickly call limit down... Kinda like that snowstorm everyone all over the news hypes about that you only get skirted with.. Lets just wait and see.
I hear that--even if the charade deepens today, it will be scary as fuck heading into the weekend short.
I loved this: "America could soon be technically insolvent. What to do... what to do.... I know, let's buy Treasurys!" That's exactly what I was thinking as i was reviewing some charts from today's action.
support will be broken...i know i'm an asswipe but i'm an asswipe with eyes...ES 1280 will not hold...1260 will not hold...support at 1200 (maybe) or just buy some DNKN and sleep easy...night all...
The big take away from last night: The Republican Tea Party is finally giving the country TRANSFORMATIVE CHANGE, and the right kind to boot ;)
PS Socialism es Muerte
The Tea Party: Change that the Koch Brothers believe in.
i keep expecting one morning to wake up and turn on the pc to read that the whole world is frozen and crashed to zero......maybe tomorrow is the day
i stopped waiting for that day long ago.
but still it is the first thought in my mind each morning as well.
The reason Boner miscalculated is that DC is not run by the politicians anymore. which is the first lesson.
Thurs was the breaking arms and legs day, where the Party threatens to shun your re-election if you don't get in line.
'Cept the problem chillun don't give a shit, because they are on private payrolls.
Did somebody think that Money was going to settle for being a sideshow in the GOP? Nope. They want to own it. And they just cut-off Boner's nuts to prove it.
That's the second lesson.
And that's the way it should be. I'm surprised we haven't heard "too" much from Ron Paul... he's in the House.
This whole charade is probably too ridiculous for Paul. He wants to remove the tumor, while everyone else is squabbling over how much they're going adjust its growth rate.
Gotta hand it to the Tea Party--they used the Republican party as a vehicle to launch what is clearly a viable third party. Could it be more obvious now that they are not "Republicans"?
Public disgust for the Blue-Red Team provided the opportunity to launch an alternative and they didn't waste it. Not that Bozo the Clown couldn't have done something similar last November, but coulda is way different from getting it done. Bravo for the Tea Party. It couldn't have happened without Fox News, but they made the most of what they had.
Too bad the people themselves were hijacked by Big Money early on, but retaining their allegiance to the Tea Party gives them the feeling that they're part of something BIG . . . which is a miracle of sorts in the Age of Impotence. Whatever.
Regardless of idiological position, the Tea Party offers the promise of a multi-party system in the future. Assuming the system survives and additional parties get off their asses and, rather than demonizing the Tea Party, follow their example, of course.
You know, I haven't seen anything from the Wanger twins...wtf happened to those two ass clowns?
I guess you could say it's "Back, to the Futures"...
Plummets and plunges. Appropiate words. It is all percieved.
Futures are plunging 15%, er .79%, same diff/no diff
I'm sure I read somewhere that Cantor has shorted bonds ... and he would not be the only one, considering that insider trading is allowed for politicians on Capitol Hill.
I am not really up to speed on arcane financial dealings/corruption, but it seems to me that Cantor (and however many others) stands to lose a fortune if the current impasse fails to be resolved by 2 August ... or to make a fortune if "constructive chaos" succeeds.
After all that is the aim of erstwhile Trotskyites who morphed into Strausian proponents of "The New American Century"/the NWO.
Perhaps I am joining invalid dots, but I have a fair amount of knowledge about the machinations which went on during the 1990s, leading up to 911. A conspiracy fact.
As a matter of fact I was familiar with Trotskyists back in the 1960s personally, and historically back to Mussolini morphing from "a Trotsky communist" to adapting the ideology into Fascism ... the bundle of government, corporate and military interests. Ring any bells? Well Ike saw it coming and here we are today.
Sorry if I have lost some people by compressing too much, but I cannot help being 68 and having paid attention for most of those years.
To end on a lighter note, thanks to Tom Lehrer and Fuckushima: http://www.youtube.com/watch?v=TIoBrob3bjI
Just combine nuclear and financial melt-downs ... gotta have a sense of tumour.
Ike didn't "see it coming" - IKE was a founding father of the military industrial complex. Like many of the elite insiders, he felt some guilt about his role so he dropped a dime on a process that any thinking person already knew.
The problem is, you can't smarten up a chump nor give a sucker an even break - it's a waste of time.
Nothing Lehman about this, and futures don't look that bad to me.
Best part of all - even the Chinese are getting nervous. Those dangerously irresponsible Tea Partiers - shame on them! About time somebody took a stand. But, I expect the TP to cave tomorrow morning, just like the House repubs did back in 2008 with the bailout.
In a strongly worded commentary, China's state-run news agency Xinhua criticised U.S. lawmakers for flirting with a disastrous default, saying the world's largest economy has been "kidnapped" by "dangerously irresponsible" politics.
Right....wtf is it with all this god damn drama?
/es futures are down 10 points, it's safe to put away the canned peas and leave the basement. Put your guns on "safe" fellas.
It's a bunch of crap, where everyone, especially the media, wants to declare a political checkmate. Problem fixed.
As far as I am concerned, the best answer is a stalemate. Hope it holds through the weekend. Let's get to August 2 and see what happens, I doubt the world will end.
we all know something is going to pass to avoid a default - and the AAA hoax will continue.
perfecto!
if you moronz still wish to believe 0 democrats would have voted for this, you are smoking better shit than i am! the R party lives to fold on another day! yay!
now, don't panic and pass anything!
steady, boys; that debt ceiling ain't gonna move one inch, now, hold 'er right there, that's it!
this is really a beautiful old ship, you know...
...'bout time we found a few decent hands who understand her...
steady, now, steady...
peace and joy
Obama needs to learn from Clinton. Invite all Republicians to the oval office and get a fat chick to blow them. They need to relax a bit.
Ah,... Tyler,... your a good dude and all,... but I don't see the dollar getting tanked right now. Maybe tomorrow, but it seems to be holding. Not that it will continue, and I agree that it is only held up by a weakening EU and I wonder also why gold and silver are languishing other than the MM feel some kind of obligation to Ben B but we all know that willl pass like a gall stone. So drink up Shriners! Tomorrow is another day.
Here's Paul Craig Roberts talking about the debt ceiling hoax:
http://www.geraldcelente.proboards.com/index.cgi?board=jones&action=display&thread=1525
I agree with him.
We're an off-shored economy. The debt ceiling doesn't mean shit.
We need jobs.
Now i know why Nero played the violin when Rome burned ..."Alas poor york i knew him well" comes to mind when i see Boehner talking to the tea party. He is dead in the water and he knows it. I for one will get stink'en Drunk tomarrow and watch my retirement go down the drain.
Burn baby Burn
coupla things, one being that the last time this happened, i.e., 2008, when the House did the right thing and voted down the bailout bill, the Senate "appended" the bailout to an existing, unrelated measure, then sent it back to the House, which then "passed" it.
so, now we have a hiatus, the story of which makes no sense, and virtual control of the goobermint spending & the Treasury is lying there, waiting to be delivered, again, to the banksters.
just above, the grifter notes that china's banksters are now scolding us for being a fuking republic. yay!
whether we can act like it for 4-5 more daze is another question.
the other thing is how much we need to either learn or bone up on in order just to understand the morning news. and that we are doing so adequately, at least here, on zH. now that we're not buying, wholesale, the fear tactics of a hanky panky, we might not join ms pelosi, doe-eyed in the headlights, tomorrow.
the bear cavalry? i s'posde if we're gonna have `10% swings in the ES 2X/month, we can also invoke the bull stampede.
THERE IS NO FINANCIAL CRISIS IN THE USA; we need to take the freaking punchbowl away. so, we are trying to take the punchbowl away, b/c the FED, who is s'posed to take the punchbowl away, has been compromised and is no longer at all "independent" of the political process. so, rather than try to give them more power and pretend they are the good guys and will fix everything b/c they are really smart and know how to do that stuff and nobody can even understand one sentence, really, about what they doodoo, we need to stop pretending. hey, that did not work, did it? we failed at a central banking system with political independence. if someone attempts to convince you otherwise, well, make up your own mind, really, but please stop assuming this is just a small adjustment or two from soaring when it hasn't been off the ground, now, in years and years. so now, operating without deficit spending sounds utterly fantastic and, frankly, quite impossible as a financial plan. in a way, it is brain-dead styoooopid not to print "money" when you are "strong enough" to do so. maybe we are also slowly leaning that it is brain-dead styoooopid not to stop printing when you went too far quite a while ago.
frankly, i don't give a flying fuk who prints what. just don't charge it to the american people. we've had enough, so just take your damned foot offa that pedal and continue along, just w/out the freaking after-burnerz, ok?
get your talking heads and experts to go scare somebody else. if you are convinced that we need the international banking cabal to fund the united states of america, well, i'll tell ya what: just give us about two weeks w/out their "help" and i'll show you just how full of fuking crap you are, you shitforbrained asswipe.
so, we are trying to take the punchbowl away, b/c the FED, who is s'posed to take the punchbowl away, has been compromised and is no longer at all "independent" of the political process.
Isn't the Fed THE government? They are independent of the political process because they are above it. Think of that Rothschild quote re: he who controls the money makes the rules.
hey v_V! in theory, the FED governance and policy-making is s'posed to be based on economics and sound banking principles and NOT be subject to political pressures.
the thing about the "punch"-bowl is a FED chairman's idea, william mcchesney martin, and the booze at the party (the EZ credit) needs to be withdrawn just as everyone is about ready to run away forever with the person to whom they happen to be talking.
so, they are s'posed to get boo'd, hissed at, spat upon and shat upon. not praised for saving the world when they bring in a freaking trainload of bootleg white lightning on credit, for pete's sake!
now, this partee is being likened to heroin, which, is so great that if you just get a little outa line with it, you marry the black widow, and you marry her, forever, as they say.
the FED is a bank, created by law in 1913 and signed by w. wilson. orgainizationally, it is a corporation, with a chairman, a board, a mandate or two for its existence, and so on. it has 12 branches, by law, and so on...
under the new dodd-frank law, which i have not read, my understanding is that the FED has been given almost complete control over all US banking oversight and regulation.
so, yes, you are basically correct about their political power, which is increasing. still, the people at the party (us) are getting pretty fuking fuked up, dude! somebody hallucinated some bullshit about a Tea Party and whacked the fuking punch bowl with a sand wedge while attired in an outfit exactly like yours.
heluva swing, too!
So if everyone knew it was not going to pass, why does it have a Lehman feel to it? Sounds like a lot of damn wishful thinking from a lot of people to me. We were told the other nigh in nationally televised speeches about what was going, yet there is shock and disappointment when something doesn't advance out of the House that everyone knew wasn't going to advance beyond that. I'm really missing the point of what Boehner was spending this whole week doing, the Tea Party do not see him as their leader and many resent the BS he's been putting together. Sure the market will go down tomorrow, next week and quite a bit in August. And remember we're not really dealing with the overspending problem at its core, only controlling how much we borrow. A sick and decrepit country any more. OTOH, maybe this is the onset of the 21st Depression in earnest that those in the mainstream would agree with, something I've known we;ve been in since 2007.
it doesn't make any sense, bk1_7; you didn't miss boehner's point; boehner failed, but maybe he will wize up and see where he played to consensus politics rather than partisan power.
i honestly think he was pulled from the brink of disaster by R party people who told him to just stop. what did he learn? that he doesn't control enough of the goobermint to "lead" the country anywhere, and neither does anybody else b/c that is the way the people recently made it. again.
and some of aren't very happy about the use of OUR armed forces to bomb the living shit outa no african civilians, under NATO command & UN control. either. thank you for showing us how styoooopid we have been to trust you, tho, oh wondrous TPTB.
heh heh.
technically, i think you are incorrect, but i do see your point, with we're not really dealing with the overspending problem at its core, only controlling how much we borrow. it doesn't "seem" like the core b/c this isn't the "right" way to do it, but if we can just hold that debt ceiling right where it is, we will learn a heluva lot about how to control "overspending" in a very short time, i would think.
we have a system on "runaway" and we need to get it back under control. the people pretending to do this are full of shit. understandably so, given the task, their incompetence, and the now-digitized ease of the entertainment dimensions of pretending. but who of us would be competent? so let us not judge harshly, but simply make the necessary adjustment to back the system off before it flies apart.
they are almost all lawyers and highly skilled bullshit artists who can pull this off for us and still get their rocks off. or not. if somebody wins or loses a bet, all their bets, or everybody else's bets, too, congratulations! you fuked up! you may not get any more free casino chips thru the Treasury debt bullshit. see ya!
It doesn't hurt for us to see how this government works (or doesn't work). One thing we're all being re-educated on, or reminded about, is the politician's tend to gravitate toward self-interest. Also, perhaps what political life would be like under a 3 party system, which is effectively what the Tea Party is atm. The American people as a whole are perhaps awakening a little out of their sheepie state.
I am not opposed to Cut, Cap and Balance on its merits. If any organization has proven it needs this kind of discipline, it is the US government. I do agree that everyone should share in the burden to some degree, not just the middle class. I just do not agree with how the Tea Party is imposing this on everyone now, under these circumstances and absolutely denying any authority to borrow for funding existing appropriations from Congress. That puts Obama in an impossible bind, overseeing that funding is provided for programs that Congress has approved in the past but not giving the resources to bring this about, either with taxes or borrowing. We're going to have problems in this nation and the global economy until the debt engines are slowed or stopped.
Time for fight club to move out of the basement? Project Mayhem!
hey, peePee!
you've been a member for abt 81/2 months, you hadn't posted for abt 71/2 months till abt 10 days ago, you are belgian, and you want fight club to get "out of the basement"?
you are an ignorant fuking twerp!
Time for fight club to move out of the basement? Project Mayhem!
Go for it dude. I think some cat in Norway just said the same thing last week.
I want to see some crying from the from Pelosi and Boehner as their assets evaporate.
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Any special deal for ZH members?
Why don't all these people just get rid of the damn debt ceiling altogether? Then they can spend, spend, spend!
What they should do is come up to one $ short of the amount needed not to default and then default anyway.
This almoat appears to be staged.What a way to get our act together. Uh oh no body will pass a billin either house. So, we will have to cut our budgets 40%....Sorry.
they were not able to pass a bill to raise the debt ceiling so, they can do anything they want except borrow money to do it! hey! it's a free country and they are elected to run it!
now, if the borrowed money was 40% of the budget, you seem to have grasped the situ. so, yes, they will hafta cut back on goobermint, b/c they can't indebt us for the money that is flying out of the Treasury into the pockets of the corpo-kleptocratic international crackerjackz and skittles interests any longer.
really.
yep. maybe hafta make some tough choices, but if they ever want to see washinton, dc, again, they better be a bit more careful about just whom they try to push around, starting very soon at a goobermint near you!
Here's the latest from Gerald Celente:
http://www.geraldcelente.proboards.com/index.cgi?board=general&action=display&thread=1529
I love that guy.
Germany opened and 45minutes into trading no Armageddon in sight. Folks this is a rigged game, it will continue until their game will fail, and that can take quite a while. Goldbugs will only prosper after the zombie armageddon comes upon us
oops, double. sorry
no armegeddon?
you mean that counterparty insolvency thingy?
are you insolvent? i'm not. i'm poor.
anyhow, armegeddon comes later. trust me.
well, i am quite sure, all this is in fact GOOD for the US Dollar and US Treasuries, very bad for Equities. The reason is simple: Finally somehow the whole debt problem good attention, what is a gamechanger for $ and bonds, should boost them (remember, Treasury said first bondholders). For stocks its Armageddon, Endgame, no more stolen money from taxpayers for their private stake.
Seems like the Fed could sell its treasuries and remit the cash to the US govt, apparently enough for almost a year's expenditure.
http://www.cnbc.com/id/43879039
Maybe the theatrics are due to the players already knowing this is the outcome.
It would be quite insane though as the Fed could theoretically conduct "Permanent" Open Market Operations (POMO) to buy all privately-held treasuries with electronically-created money, then sell them back to the market for cash, then give the cash to the Treasury - a shameless fig-leaf accounting exercise. There are about $14 trillion in treasuries outstanding, so they could go on like that for a few years, while increasing the base money supply by the same amount, leading to crazy-low interest rates across the entire curve and of course eventually hyperinflation.
Actually it gets worse. They could churn say the same US$1 billion in treasuries every day, POMOing then reselling. Truly QE to infinity.
Lot's of technical support for the market at Zero.............
Don't worry about which fricking law they're going to work with. In the end they'll just find some reason to declare marshall law anyway.
At the Comex....silver is leaving the customer vaults..nothing is going into the dealer vaults...and the gold vaults are dead...very strange I think....I would think that the Comex would be very very active right now as dealers and ownwers validate and get back control of what they own....I would...in these troubled times I would not be leasing to anyone...and I would want possession where I can get to it and know it is safe...IMHO
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