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Here We Go Again: US $25 Million Away From Debt Ceiling Breach
It's simply amazing how quickly the US managed to hit its debt target, pardon, debt ceiling all over again...And now the Social Security Fund pillaging begins anew until Congress signs off on the latest interim debt ceiling increase.
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So, you want Uncle Sam to donate you a Backpack, Boots and Bullets?
Yeah, because his pro-life stance is soooooo much more important than anything else going on in the world today. Aren't you missing Idol re-runs or something, tool?
Right. Let's support the anti-life candidates.
Shit 25 mil was gone before you finished typing your post.
I bet there won't be much resistance this time to raise the debt ceiling.
Heroin addicts don't resist their drug, either.
I agree. Last time, Republicans had a poppycock freeroll by acting like dickheads duringthe summer. They also saw the consquences, and the country's reaction to them, and their effect in the polls. Both sides would just prefer to sit on the ball.
2013, after the elections? Different story.
Pocket change. A rounding error at this point.
Ogolfer's hole in one.
And O-bomb-everybody hasn't even made the request yet AFAIK. Maybe he plans to do like last year and just suspend reporting of the debt ceiling until after the election and fudge all the numbers... take it from FERS, social security, etc.
he doesnt have to "ask"
Can't we impeach O-spend-everything-and-O-fudge-everything if he does that? (BTW, love the icon, Owen Wilson's only good role).
No, you can't! You is but a powerless pleb.
Oh, what a give away. Did you hear that? That's what I'm on about -- did you see him repressing me, you saw it didn't you?
Who are the Britons?
Shut up! Shut up!
Bloody peasants...
You could not get the votes to impeach if he assraped a 5 year old girl on national tv in this political environment
Not even if he tapped the shoes of the guy in the stall-next-door?
Exponential growth bitchez!
Timmy, you're on in five.
Hey Timmy, Here's an idea: Why don't you give me half the money you were gonna bet, then we'll go out back, I'll kick you in the nuts, and we'll call it a day!
Sorry, was tied up at the jiggly-jiggly.
Maybe next time.
reserve currency status ending in 2012 bitchez
That's a lot of bitchez!
The US spends $25 million like a fat kid spends $25 dollars in a candy store!
At least the fat kid doesn't hit me up for 30% off the top of my earnings.
25 bucks? $25 million is like 25 cents to these fucks.
lol remember a few months ago when reaching the ceiling was a big deal?
ROR, and didn't they say it would last until the election?
spend all you want.. we'll just print some more!
Hell yea its party time in USSA! Ran out of money again? Need another $2 trillion to get by another few weeks? No problem baby just print it NOTHING MATTERS!
Cuz there ain't no party like a debt ceiling party, cuz a debt ceiling party don't stop!
Did you smell that? I just farted $25 million away.
Arugula? Or was it peas?
Duff Beer. Smells great, no?
Cha-CHING! Yesterday the room to debt ceiling was $16 billion, so it only cost that much -$25 million to rescue equities today...money in the bank baby! SURPLUS!
Considering the US Government spends $6.85 million a minute, the ceiling was popped 3.5 minutes after this post went up.
So by now now their credit cards are blocked?
Well....yea I was just joking of course.
Of course.
How do you pillage the SS trust fund, when there is NO Such animal.
Go get more IOU's?.
Pretty sure he meant the federal employee retirement fund...
You are correct, CONgress steals the SS surplus in real time.
yup
At what point does the bill come due. 50% of Americans are living in fantasy world where they actually think they are wealthy and borrowing to maintain their lifestyle- just like the govt. Eventually reality will come and the pension check will not be in the mail...
Americans are living in the 'fool's paradise'. They don't mind the random DHS security checks either. Just keep the show going. Sad, very sad. And my family wonders why I don't want to return to the US or get involved in anyway, shape or form.
If USdebtclock.org is to be believed, $25 million is good for 6 minutes of US debt growth.
Pop the champagne - we have crossed the debt limit.
NOTHING IS TO HIGH!!.
NOTHING TO GREAT!!
NO CEILING WiLL STOP THE DEFICIT!!
YES YOU CAN !!!
YES THEY DID IT!!
YES IT HAPPENED!!
Like the germans said in the 30's, it's better to be one year early than to be 1 day to late! Protect your money! Buy PM's!
What sounds like a stupid idea now will be the smartest thing in a few years from now!
People like to wait untill this one dramatic event happens that convinces them enough to get their money out. But always there are people saying "it could be worse or it's not that bd" and they'll only realize it's to late when it's way to late.
Please learn how to properly use "to," "too," and "two." I wouldn't be a Nazi about it if you wouldn't capitalize your misspellings for dramatic effect.
You should post your criticisms in Dutch. Or maybe German. Actually, maybe even French.
I dunno, all I know is that Domo-guy didn't learn English here in the great USA. Cut him some slack.
Push the escape key, that will shut down his anger shaking.
You killed him, you bastard!
Ain't no Mountain High Enoughhttp://www.youtube.com/watch?v=Xz-UvQYAmbg
Living On the Ceiling
http://www.youtube.com/watch?v=L03PJeB38dI
(CAUTION:British 80's New Wave)
BWHA BWHA BWHA
What did I say like two days ago? They could spend through 14 billion in one night!
Rolling over on the floor!
So what happens? Thought Obama delayed the request? They will not make 30 minutes with that cash.
Are you sure, it is not debt reduction? President Barack Obama is quoted on OMB website :
http://www.whitehouse.gov/omb
Gag. Puke. Pay more taxes. Repeat.
What an epiphany. The dire outcome of extreme Kenysian monetary policy (hyperinflation) is temporarily tamed by financial bulemia.
Temporarily being the key word.
Merrill Lynch is bulimic on America.
So what, Obama just have to raise it by himself.
He doesn't need congress until the next debt ceiling... which is at 16.694 trillion.
what if: the squid were working out a plan whereby the congress sells debt ceiling futures to the prez0 administration? L0L!!!
now, this won't be free by any stretch of the imagination, of course, but it will make it appear less risky to run the debt to the stratospehere
and beyond!
...to boldly go...
This is not going to derail our plans to bomb Iran, right? They're trying not give us the oil for the oil revenues of theirs we just froze!
Does anyone want to give odds that the debt ceiling will even be discussed during obummer's state of the union clap-a-thon?
Ohhhh....you didn't get the memo. Most war expenditures are actually held "off" budget you see. That debt ceiling is only for those pesky on-budget issues. We have plent of money to bomb the world.
Good point. I forgot that part is budget-less.
Seriously, who thinks this will stop this year? Or next?
Let's crowd-source this baby.
Tacking on the cost of war in Iran, and bailing out the EU, I'm thinking the ceiling (lol) will be around $18T by year end 2012. Any other good guessers wanna try?
I'm guessing 17T. Some people call me an optimist though...
Well at current pace, without a war with Iran, the US will end the year with 16.7 trillion in debt.
Can China buy state of Florida for $17T? Just thinking.
US debt will $17.35 trillion and US unfundunded liabilities will be $123.7 trillion by the end of 2012 per usdebtclock.org, give or take a few billion.
http://www.usdebtclock.org/
What exactly is the point of a ceiling that is continually lifted? All the revised ceiling votes do is distract the Congress for a few days from the important business of bankrupting the country.
It distracts the sheep and keeps them tuned to the reality tv show that is politics. It's called the "Raise the ceiling show".
Bullish for the market!
Rounding error
Not even that. We left rounding error behind at a couple of billions.
$25M is a carefully positioned fig leaf. It will stay right there until they get their act together enough to raise the (lol) "ceiling".
And yet the masses still back these same old failed policy politicians. Unreal. Well when we live in a society worried about the ego this is what happens. Its not shocking at all.
I don't back shit; I go to work and wait for the day when everything breaks.
Until then, it's work and feigning interest in the pragmatic social affairs of people I couldn't care less about--because they are delusional and incapable of being helped.
I was hoping it went bust by the end of my unenjoyment so I had a good reason not to go back to work!
I am in the same boat with you buddy. Daily grind and also waiting for the glass to break.
I try so hard to help people find the way and majority of the time just get bashed. I don't stop trying to help them because its the only way to win and thats in numbers.
Congress has to authorize the rest of the funds right?
How about a 2 month extension?
Who cares? Wake me up when im dead. In the mean time, Im still here you magnificent bastards
George Orwell is NOT turning over in his grave. He saw it all.
If Orwell is turning over in his grave, I'd hate to think what Marx is doing in his.
James T. Kirk
George Orwell is NOT turning over in his grave.
He saw it all.
And people gaggle over Nostradamus.
What do you expect of a "former" British agent named Eric Blair?
Now that's what I call a Bill ! Pity the sucker picking that up /)
Have you met the American middle class? ...better soon as they're disappearing at a rapid rate
Call Corzine. I hear he has an extra 1.2 billion.
Nah, he spent that money on life insurance.
what time is it, the next ceiling shall be coming via fright train in about...5...4....3...2...1...
I thought the agreement from the last debt ceiling drama said that the debt ceiling would automatically be raised unless congress opposed it and since congress is in recess? Dammit just let this market burn down already
You mean the Tea Party agreed to that? The massive ocean of money sloshing around DC must have bought them off faster than I thought it would.
...aaaannnnnd, its gone.
Europe and the US have effectively nationalized their bond markets. Strange days, indeed!
Courtesy of the Matrix construct known as "fiat money."
I'm not a pessimist, I'm an optometrist.
The scary thing about those red-shaded numbers at the bottom of the charts is that they are in millions.
PHYZZZZZZZZZZZZZZZ
Who cares lets spend! Someone will print all the money we need.
The US needs to downgraded. It's fiscally irresponsible. Time for the bond boys to demand higher rates with collateral. The US will never pay back it's loans!!!!
China, Russia and the middle east need to demand something else other than US dollars.
What I really want to know is, have we consumed all of the real capital yet?
Let me give You a lesson on the Presidents that You should start knowing.
William McKinley --> 500
Grover Cleveland --> 1,000
James Madison --> 5,000
Salmon P. Chase --> 10,000 (Only non-president) When You get to own the press, You can put your face in the bill too.
Woodrow Wilson --> 100,000 (very fitting, as He allowed the FED to be created)
http://www.marshu.com/articles/presidents-on-us-united-states-paper-bills-currency.php
"Salmon P. Chase --> 10,000 (Only non-president)"
I don't mean to be overly particular, but neither Alexander Hamilton ($10) nor Benjamin Franklin ($100) were ever president.
Only non-president of the list, but good point.
Another interesting fact, Hamilton and Franklin were not "Technically" born in the United States as the country didn't exist when they were born.
:-)
Silver For The People – The Blog 1/5/12
http://brotherjohnf.com/
Zerohedge – Mike Krieger On Why He Supports Ron Paul
Kerry Lutz – Ed Steer of CaseyResearch Gives You More Golden Reasons
The Chronic Failure of Britain’s Monetary Policy
U.S. Dollar and Currencies: Review and Outlook
Gartman admits a bad call on gold, but that’s not GATA’s grievance
Trading Silver in the Dead of Night
Hitler(Dimon) bested by Stalin(Sprott) precious metals cartel parody
Harvey Organ – Record Deposits at ECB?Hungary CDS hit record levels/Italy and Spanish bonds rise again
The Crushing Weight of New Laws and Federal Tax Codes
Peter Schiff – Was 2011 the End of the Gold Rush?
Patriot Radio Newshour – Thursday, January 5, 2011
Is $5,000 Gold a Myth?
Becky Akers – From Democracy to Dictatorship
King World News – President of Pento Portfolio Strategies
Nicholas Lemann of the New Yorker on Ron Paul: A Critique
Faking It: How the Media Manipulates the World into War
King World News – Hathaway – Decline in Gold & the Shares Has Run its Course
King World News – Pento – Expect $7 or $8 a Gallon Gasoline if Iran Closes Straits
Playing the ‘Free Markets’ Canard and the Myth of Self Regulation – Jesse’s Café Américain
Three investments that you want to avoid
Hungary faces crisis as traders fear bond debt default
GoldSeek Radio interviews GATA Chairman Bill Murphy
Munknee – These 8 Analysts See Gold Going to $3,000 – $10,000 in 2012! Here’s Why
Fearful Investors Stash Money in Luxury Goods
Ranting Andy – Dilution, American Style
Ever Wonder Why You Never Get Called Back For That IT Job?
Zerohedge – EURUSD Dips Below 1.28 As All Hell Breaks Loose In Italian Financials
The Hyper Report – Jan 5, 2012 – Exposing Elite Shenanigans
Seasonal Adjustment Pushes Initial Claims Below Expectations At Least Until Next Week’s Revision
Meet the Mainstream Press
Bob Chapman – Pressure Put On Massive Governmental Debts By Fed
Europeans Fleeing To Gold
FSN – Martin Armstrong: Capital Controls Coming in the US
FSN – Ann Barnhardt: The Financial System House of Cards Is Ready to Topple
The Little Currency That Couldn’t
Silver Update 1/4/12 W For The Win
I say odds almost 100% cash will run dry right before the elections.
CHAOS
Time to get the credit card out of the wallet, again.
It's fine. The marxist will fix it.
Maybe Obama can appoint Corzine as the next treasury secretary he seems to be good at making billions disappear without too many qestions.
He has the title of "Honorable" so it's honor among thieves.
Obama should appoint Madoff treasury secretary.
"Federal Government To Reduce Madoff's Sentence If He Can Infiltrate U.S. Economy In 48 Hours And Turn It Around"
http://www.theonion.com/articles/federal-government-to-reduce-madoffs-sentence-if-h,26390/
"According to high-ranking federal officials, the U.S. government has struck an unusual bargain with convicted criminal Bernard Madoff, giving the former financier 48 hours to infiltrate the nation's crumbling economy and fix it in exchange for a reduction in his sentence."
Looking forward a bit:
The Congress - December 2012.
http://www.youtube.com/watch?v=GFyUvlfZ8j0
Tyler I just saw this for the first time. If its already been posted oh well... if not thought you would like to have a look.
http://www.youtube.com/watch?v=Li0no7O9zmE&feature=youtu.be
Priceless.
I should have mentioned this is a very funny parody on the debt ceiling
http://www.youtube.com/watch?v=Li0no7O9zmE&feature=youtu.be
You have kids?
The older generations will be passing on the debt to our kids, unless the wheels fall off before that.
Thanks for the link. That's perfect. It's plain enough that maybe even a moron stuck in the left-right paradigm can understand it.
Debt limit of $15,194,000,000,000, we are at $15,193,975,000,000? That's just a friggin' rounding error, no doubt we blew through the limit before the ink dried on the release. Good thing Il Duce is not bound by the laws of this wonderful country or we would be in deep trouble.
The real ceiling (the one where congress need to pass a bill) is at 16.694 trillion.
That's after the Super-Duper-Committee cuts $1.2 Trillion, nicht war?
So if the Fed want to open a new round of QE like they're doing in the UK, does this require that they allow a 500% GDP debt ceiling?
reflecting on recent FED action and very much clarified by the ECB with a more and more similar policy framework but lack of smothness, monetary policy has managed to define itsself as the sole and ultimate provider and controller of the system's future. The FED has established the framework, power and infrastructure and is perceived as the absolute entity to create exits in ever more critical situations. The evil flaw, it does not create in a sense of strenth, facing reality, but instead is has manifested a dovish weakness of managing criticality with infinite relativity. I believe it is more than a mere coincidence that Greenspan is the ideolofical founder. Himself, we would probably use another term, that of a Randian Hero, after his very close friend, spiritual leader and priest, Ayn Rand. Greenspan and Rand marked the ideal fusion of purely theoretical philosopher and pragmatically scientific inventor, radically united under the the ideological view of relativity, feeling a mission and power to grab the world by the balls.
Re QE, I am increasingly amused by the difference in magnitude between the defined, proclaimed and publically discussed monetary operations and the the discretionary, unnimited, ungoverned, secretive and very privately adressed measures involving extended liquidity provision programs, the establishment of quasi-equality between central bank lending and equity issuance and distortion of value perception through creative collatorolization. Sure, the public gazes at the easily spelled, nicely promoted, and mass-consensual programs, and is thereby easily distracted from those instruments that obviously deconstruct the valuable principles of markets and societies such as ownership, continuity, equality and responsibility.
IMO we are experiencing a time of initiating structural shifts, being the a major milestone in a well-established long-term Randian ideology.
Fire all the butlers Obama has and sell the gold rims on Airforce One and that will leave enough funds available to send Michelle Obama on vacation to Willies Wonkas fucking chocolate factory later this year!
"• Secret Service detail, which could number 70 agents. At the $273-a-day federal per diem for five days"
THAT'S A LOT OF BUTLERS!
http://m.cbsnews.com/storysynopsis.rbml?&feed_id=0&catid=6747469&videofe...
Jon Corzine Reportedly Shopped For French Chateau While MF Global Was On Verge Of Collapse
http://www.huffingtonpost.com/2012/01/05/jon-corzine-french-chateaux_n_1...
Whats another trillion is the big question. F the politicans.
Ron paul speaks the truth the country is happy with fucking Jersey Shore and shopping. Shows the fucking inbreeding
The endgame of the 50-year historical timeline of exponential monetary base expansion now becomes all to clear. The further out on the curve, you first need more compelling arguments to increase (Reagen/Bush), then logical consequences of external impacts to obviously break with tradition (Bush), before you reach a total disconnect even more accelerating monetary expansion and further public resignation by focusing on partisan infighting and demonstrating the hopelessness through the lethargy of the once believed, non-establishment savior (Obama). That second to last stage leaves people tranquilized with resignation and no understanding whatsoever of the magnitude of change, that is imposed on them ("yes they can") and then, when the public is entirely disconnected from policy, the final stage begins and an incoming administration will create another catalystic event - actually more of a catakystic era - prick the final bubble, ie the unnatural stabilityin the middle east. That final move will reactivate the public to stand united behind a new president, blindly taking the final hit of unimanigable war cost and even more important, the mid-term debt-financing of the status quo, which has become priceless through the secondary effect of the great middle east war, the indefinite cut of half of the world's oil supply. During that terminal stage, the curve curve will turn vertical, and the German wunderpresses will print another Weimar hyperinflation - thanks to the reach of the greenback - on a global scale, making a something new and orderly for the entire world necessary.
Now, some call it the indisputable need for debt-forgiveness, I say, that's a nice putting of the technical process, but the ideology behind it, is not supposed to serve the indepted, it actually targets the legitimacy of taking away any asset ownership under the debt-forgiveness sanctum. The majority of net debtors will only very shortly be full of joy.
A voice of reason
Greenwald: 'US can only suppress democracy for so long' http://tiny.cc/qcb5y"The Soviet Union had a single, entrenched, systemically corrupt political party, which held a monopoly on power. The US has two entrenched, systemically corrupt political parties, whose positions are often indistinguishable and which together hold a monopoly on power. In either case, there is, or was, a single governing elite, but in the United States it organizes itself into opposing teams to make its stranglehold on power seem more sportsmanlike. It is certainly more sporting to have two capitalist parties go at each other than just having the one communist party to vote for. The things they fight over in public are generally symbolic little token of social policy, chosen for ease of public posturing. The Communist party offered just one bitter pill. The two capitalist parties offer a choice of two placebos. The latest innovation is the photo finish election, where each party pre-purchases exactly 50 percent of the vote through largely symmetrical allocation of campaign resources and the result is pulled out of statistical noise, like a rabbit out of a hat. It is a tribute to the intelligence of the American people that so few of them bother to vote."
Dmitry Orlov
If we had a republican president right now the debt celing would be exactly where is now. Stop being a fool in reegards to who controls the script of how this is all going to play this out. The debt of all countries controled by the Fed & ECB will reset when their PLANNED new currencies are released.
the squid decieds those matters.
I disagree. Remember the tea party is republican. The whole concept of the tea party came from the out of control TARP spending. Have they been successful stopping this mess. No, but they are a minority and fighting both parties for control of the purse with the president in the opposition is not a winning formula yet.
I understand where your coming from and share your disgust.
The TEA Party would earn some credibility if they start demanding we cut Medicare and SS.
Until that happens, they're just fuckin' poseurs.
You're garaunteed it won't come from the Rhino or Democrats. My belief is that it will take presidential leadership and it will not come from the president we have in now.
I'm not about to try to dig up documentation, but I think if they just deadlock the ceiling increase for long enough, "mandatory" budget cuts start taking effect.
Although it's never really clear what they mean when Congress says something is "required by law."
when they roll that out hunker down or at least apply vasoline in large gobs!
that it will take presidential leadership
Sounds to me like you're waiting for our Hitler to step up and usher in a new era of unity and hope and change... Here's the deal, the president can't do shit. If he does do shit, it's not "for the people", incase you haven't noticed yet. The people must mobilize or TPTB will take advantage of the lack of active participation and continually sell us a silver tongued asshole. Million person march on DC or bust...
The man who started Tea Party is demanding it for 30 years. The man's name is Ron Paul.
Glaxo-Smith-Kline Fined $93k For Killing 14 Babies
http://naturalsociety.com/gsk-forced-illiterate-parents-into-signing-ove...
/Winning
//no seriously, give the death penalty to these fuckers
As the curtain slowly lifts on the gilded deceivers, we are seeing a great many people recognising it and speaking out. We are lending our voices to a chorus of far greater beauty and magnitude than the prostrated angels of any Asiatic Deity you can name (or can’t for that matter). We sing for our selves and our future.
Indeed, in the Nietzschean struggle of Rome versus Jerusalem, the former which was assumed defeated shall overcome with the fury of ages.
Rome, it must be:
For it knows not deception
Nor innuendo
Nor base greed
Nor desperate haggling
Nor sickness of mind
Nor false sympathies
Nor the expert trade of manipulation; financial, political or religious.
What it does know is art and labor.
The new age has begin, but let us not call it golden because they have stolen the word’s meaning.
http://culturalrespawning.wordpress.com/
Time to stamp out some of those trillion dollar copper/nickle coins and deposit them.
nuts
I need some debt advice: I have a $12000 auto loan with a maturity date of 11/2015. I have 0% interest. Is there any advantage to paying this off early is there something I'm not thinking of or should I keep making the $258 monthly payments and let inflation ~do its thang~ and stack in the meanwhile?
Stack it Baby!
will do!
Chance is, by 2015 the car dealer/bank you owe this to will have gone bankrupt.
I doubt the US will make it to 2015 without falling into civil war.
that's what I figure!
Spend the money on beans bullets band aids and precious metals. We aren't going to make it that far.
Just stack it up man.
Ras'n da ceiling? - "Just Do it." Now for some entertainment:
http://www.youtube.com/watch?v=06ooGrzi0KU
The slow deterioration of the economy brings to mind the old metaphor of the frog in boiling water for some reason...
Ref___"The Nat'l Public Debt" via :
ronald [ronny, trickle-down via star wars fame] reagan 1981-89 [8yrs] gopper #1
george h.w. [operation desert storm/famed trooper in the sky] bush 1989-93 #41 [4yrs] gopper#2
william j. [give-away sweet, free-trade willy, lovin the lincoln bdrm orgies] clinton 1993-2001 [8yrs] dem?socialist __ A#1
george w. [baby-boy bombs away... afghanistan/iraq via shock&awe - what-me-worry lowering taxes=zero/pay-4-war...not texan - problem solved?] bush 2001-09 [8yrs] gopper #3
osama h. [debt has no bottom -trust me - mr. status quo and then some... a demosthenes, naught!] obama 2009-? [3yrs ~$5tr deficit**] A#2 dem?socialist - ??? Ps. as comic book guy says,... worst president ever!
total 20 yrs gopper's and 11yrs dem/socialist?
total debt ~ $14.75 Trillion since 1981- present
Congress is to blame along with these buffoons for leadership,... taking our nat'l budget debt from peanuts to our massive debt today - along with the FRB's inflation/ deflation fighting malfeasance
lastly, where the gold standard was once the self-correcting financial mechanism doing the fed's work for them [i guess they had to get rid of it to justify their existence?]
http://www.marktaw.com/culture_and_media/TheNationalDebt.html
2009* data ** updated link on page ___ U.S. Debt basically flatlined from 1934-1980 at $50ml-0.4bn
Drudge:
RUBIO SENDS WARNING LETTER TO OBAMA: DEBT SOON 'WELL ABOVE $16 TRILLION'... DEVELOPING...