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House Passes Debt Ceiling Vote
And like that the Congressional circus is over 269 to 161. Market reaction? ES sells off 5, then rallies 3, and now is selling off again. Next up - the Senate but that is a given. So now that we know that America is not going to file for bankruptcy tomorrow on we go to the economic collapse.
More from Reuters:
The House of Representatives on Monday approved an 11th-hour deal to raise the U.S. borrowing limit, clearing the biggest hurdle to averting a potentially catastrophic U.S. debt default.
Just one day before the deadline to lift the debt ceiling, the passage by 269 votes to 161 by the Republican-controlled House paved the way for an expected approval in the Senate of a $2.1 trillion deficit-cutting plan hammered out over the weekend.
The Democratic-led Senate was expected to vote on the plan on Tuesday.
Financial markets worldwide have been rattled by uncertainty over whether the compromise plan could pass the House in the face of objections from conservative Tea Party Republicans and from liberal Democrats.
Having a deal in place by Tuesday to raise the U.S. government's $14.3 trillion borrowing limit will remove the risk of the United States not being able to borrow money to pay all of its bills.
Market response:
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What Evil Has Befallen Us?
YAY!!! It is even better that bitch Gabby Giffords was there to vote for it!!! She has helped sell this fucking country dow the toilet so after they shoot 534 of those bastards in the head, she can get a second shot.
let me guess.... doomer libertarian?
That was a pathetic absurd comment. Are you sick?
You have violated the decency standards of this forum.
Also, you misspelled "down".
Fuck you Clueless Economist.
If there is ever someone I ever see to Tyler for you to be banned or otherwise set aside on ice for a penalty...
Threatening Congress is NOT a good idea, Big Brother is watching you.
Probably even more so now.
If there is ever someone I ever see to Tyler for you to be What the fuck kind of engrish is this?
Or is this just brain berserk from emotional overload.
You say that as if you fear Big Brother.
I don't fear a Big Borther but I do fear the Global powers that be which stand to absorb the United States into thier Evil plans.
I have not lost it completely emotional wise. English is not my first language, I am deaf. Sometimes I have to convert between that language, english and a bit of German to make what I am trying to say work. It would be far easier to bitch slap the Offensive poster than it is to type out how you would like to have it dealt.
There are many trolls on this site and I let most of them go with a junk.
ZH is still the place to get some good stuff, increasinly numbers of 15 week or less newbie timers have been posting CRAP and now I gotta scrub the poo off the good stuff in order to read it.
That gets tiresome.
Just skip the garbage and never feed trolls, it encourages them. They'll go away soon enough if they are just ignored.....
Clueless just click here and select from the menu
http://network-tools.com/
not to worry that info is a view from 1,000 feet, but then again perhaps you should be a bit concerned the folks at DHS can/will zoom in
I suspect this thread will be disappearing soon
Off by 22 miles when I'm not on a VPN.
The problem with open forums like ZH is that anyone can log on anomalously and degrade the conversation. As ZH has become more recognized as a source of accurate economic and sometimes political information, it draws the trolls out to ruin what used to be some very insightful comments from contributors.
So on behalf of those of us that have been here for more than 17 weeks and would rather read intelligent commentary and not just spewed forth vitriol. Please please go somewhere else and while your there fell free to insert your tiny member into any of your orifices that it will fit. Or in your language, go fuck yourself.
The peasants are revolting, and their angry too.
Zero hedge was mentioned on Bloomberg today.
They didn't implement voting up/down for no reason. I'm sure after there's enough data to establish a numerical threshold for "ranking" in terms of how shitty their average post is/isn't then we'll see this forum come alive again.
Problem still stands though -- a very different (and ok) opinion, should that be removed, or how should that be handled?
If someone's comment is downgraded 10-to-1, then do you hide it? You have to establish a threshold and something deeper than just "+5 and -3" hard to come out with anything from that, but if we do for example:
+13 -9
+21 -11
+18 -10
+8 -1
------------------
TOTAL +60..-31
DIFFERENCE +29
So.. yeah. How the hell do we make use of this data? I'm sure I could make a Drupal module to use the data. Just need a smarter way to aggragate the numbers to make sure you're drilling down enough levels into the ranking/threshold to make a good assessment... or just a moderator.
That was an eye opener... Keep up the great posts. Lunacy in motion, congress is...
I am a republican but I thank God that gabby is alive and well. She is a miracle woman. The person that shot her should rot in Hell. She isn't a bitch, she is a wonderful woman. God bless her. By the way, both republicans and democrats alike both sold this country down the toilet. A price we pay for electing puppets. Only the patriots will save this country.
...well mailll, are you not another Hitler? ...but how could you know ...you have schizophrenia?
http://www.youtube.com/watch?v=vAyKo7oBBSA&feature=related
Seriously, is our shit in the wind troop? Why in the unholy head did the Word of our Father in Christ move upon the waters, so our dusty asses could get a 666 tatoo? Shall judgment come upon us now in suicide or is our abortion call to come upon us as the second death?
...fear not, we are forgiven ...unless equally yoked with the ignorant and the evil fallen suicide bastards that have tempted man with the Antichrist offer of denile, which begs the question; is not the meaning of life ''love'' defining the labor pain of mercy? ...otherwise what in hell is the purpose of life beyond the horror and revelation of pain and slaughter?
Did Jared choose to have schizophrenia? ...after all there is no choice right? ...just the revelation that comes upon us in battle, while at war, as it now stands among the Saints.
The arm of man is nothing but a pathetic claim of dominon based on the fallen elder of man, which is the revelation of the flaming alter of the accuser, which is the corrupted Earth, as the hell fire and bottomless pit which is the void.
Our Father in Christ is not schizophrenic or dead. The will of the Father does not abort the Father. It is not possible for the Father to abort his own image and the revelation of abortion to exist. What is risen in agreement is defining and sustaining, which is the revelation of the unfathomable waters of the deep reality of the Word of the Father in Christ risen and become the virgin dust of the Earth, as with the Bride in agreement and the will of the Father risen as the Son of Man.
The virgin Earth is risen and the dust stands accused by the void? What a sad and pathetic joke. The claim did not come from The Tree of Life. The dust of the Earth is not accused by the tomb. The Truth is not a choice, the virgin dust and the void offered through denile cannot exist together by virtue of the void. The virgin womb would not exist by the offer stemming from the builder's of the tomb for denile. The void is obvoiusly the extra terrestrial revelation within the corrupted human host, as the point of order which is conduct unbecoming. The case rests upon ''the devil made me do it'' and it stands fast against the accuser whom has deceived the virgin dust entombed by the void within the schizophrenic womb. http://www.youtube.com/watch?v=nxqyWyg9HPg
Nah, Gabby's gonna get her time with the guillotine. Trust me.
Like I have said before, we live in two worlds. In one we are expected to be happy, prosperous, forward thinking beings.
In the other is where reality takes place. In my fifty years on the planet, never in my wildest dreams did I ever thinkk shit like this would hapen right iin front of my eyes. And it has.
Straddle the line and have some fun. I love college football. I buy silver.
We have achieved peace for our time
"...if we fall, then the whole world, including the United States, including all that we have known and cared for, will sink into the abyss of a new Dark Age made more sinister, and perhaps more protracted, by the lights of perverted science." -Paul Krugman
Extend and pretend, sovereign edition.
YES WE (kick the) CAN (down the road...)
And ya know what, it's one thing when the jackboot thugs come after us, it's something else when they are going after our children and grandchildren, who have been burdened with this debt from the day they were born.
Breaking News!
(for the MSM pumping this great news)
1. The US government decides to pay some bills!
2. The US government agrees to borrow more money!
more like perverted economics
Yes this is a tremendous victory for America. I am proud.
"We have achieved Piece of Shit for our time." There, fixed it.
More debt that won't be paid and quickening the pace to Bankruptcy. Yeeeeehaaaaaw
This is hardly over. Drama will continue during Act II with Senate. Act III will be Obama.
"This is hardly over. Drama will continue during Act II with Senate. Act III will be Obama."
And the exciting climax - when S&P still keeps us on negative outlook pending review. Of course that leads to our next sequel: Living with only a Double-A credit rating. Buy your tickets now!
USA TODAY, which is the richest source of outright stupidity and perverse misinformation in our corner of the Milky Way Galaxy, and is written at a 4th grade level as well, PERFECTLY encapsulated in one meager paragraph all the wrong thinking that is killing the American economy today. It's really not often that stupidity reaches the Olympian level, but here it is:
"All things being equal, lower [government] spending translates into slower economic growth, since it means cuts in payments to contractors, layoffs of government employees, and smaller entitlement checks. Already in 2011, softer government spending has sapped growth." (Franklin Sanders, The Moneychanger)
WOW that is the most sickening thing I have read today...downright crazy!
Comrade, if only government were 100% of spending, than we could have infinite economic growth!
Well it wouldn't be hard to find the average Jill or Joe with the same mindset. Go on, have a conversation with them. Have your friends watch your head explode.
If the private sector, corporations and the big banks are all laying off staff, and then the States and the Federal Gov join them and start laying off staff as well, what are you all gonna do?
Pretend that this mix of 360 degree layoffs is going to bake the US a High Employment Cake?
Somehow, I doubt that, so surprisingly IMO, USA Today has this one dialled in perfectly.
In other news, local heroin addict finds quitting drugs difficult and makes his life unpleasant...
Now that's funny . . . I once heard a fat man say he didn't like to exercise because it made him tired.
If you know who Franlin Sanders is, You would know that has to be the worst example of lifting from ontext.
Google Franklin Sanders. He is a hard core PM man and is a PM dealer.
Yes, he is a good friend of mine. I didn't mean to insinuate that he made that quote. Only that this little story came from his site.
So the congresswoman who was shot by the guy with a masonic altar in his backyard, comes back NOW to vote YES for this?
Why Not, brain damage seems to be a prerequisite for thinking that this is a good idea :)
erm....that's a bit cold
+14,293,000,000,000
+2,600,000,000,000.999
After watching some of the "debate" I'd bet that Giffords is not the most brain damaged Representative in the House.
i think Gifford deserves to be on the new $ 10000 bill
You mean Trillion $ bill...they could print 17 of them and we would have a surplus!!! She looked cuter with the blond hair, rather than the butch dark hair tho
Sorry, i think Krugman and TOTUS will draw lots on who can grace that one...
Dirty Blond is the " Mantra" these days...
those of us with a few pennies like to live incognito... hence the smalls with referrence to currency...
You mean Trillion $ bill...they could print 17 of them and we would have a surplus!!! She looked cuter with the blond hair, rather than the butch dark hair tho
Where in hell do you come up with this shit?
it wasnt even close, they didnt have to waste the time rolling her out
Did a single American put down his cheeseburger and beer, get out of his armchair and do something to stop these scum giving more wealth to the few at the detrement of their children and children's children?
No, thought not... every citizen is complicit in this evil.
Some of us did try to stop them through personal contacts (calling their offices, E-mails, etc.). They don't care what the thinkers think. They care about what they can sell to the sheep.
I emailed my congressman and spoke up in church service to ask the Lord to forgive us for borrowing with interest to spend more than we earn, and encumbering our children and grandchildren with our own debts.
I know God heard me, but I don't think Kevin Brady did.
I heard you and i bought another few ounces of tradition.
Call me old fashioned.
Old fashioned.
I could use one, too.
http://en.wikipedia.org/wiki/Old_Fashioned
I got an email from a Senator in which he states "It’s not a perfect plan, but it’s something I feel we need to have right now. "
I basically called him a coward for voting on it...
I am impressed!
Your Senator actually emailled you back?
No. I was replying to his mass emailed "Sorry, but I gotta vote Yes...blahblahblah". I said that now was not the time for cowards to take the safe way out. Like that will mean anything. At least I didn't vote for the schmuck....
You are right. And they won't do anything. Not until their monthly check stops coming in and reality smacks them in the face. But, like the Romans of old who gorged themselves then went to the vomitorium just to gorge some more, they are too fat and lazy to do anything anyway.
Did you . . . ?
I thought you were gonna do it...? Oh well, may be next time, depends what's on TV.
Somebody beat you with a stupid stick boy?
Like in 2008 I wrote and called Senators and Congressman. I went fruther: head of banking committee, appropriations and ways and means.
Please tell me that you didn't expect them to pay attention to you, and you just did that as a sort of meditation on the absurd.
I assume he mailed hookers, blow, and bribe money.
i forgot to include a check for $100,000.00 so I don't think my requests will be given much heed.
You probably think voting makes a difference. It's not who votes for whom, it's WHO COUNTS THE VOTES. Until a critical mass of protests arise, there never can be, nor will there ever be, any change to the system (and that means the powers that be get exactly what they want).
monkey, evidently you don't keep up....the people no matter how peacefully loud we are, are screaming at a bunch of deafs who need ernest angleys magical healing thumbs.....
"who need ernest angleys magical healing thumbs....."
Gouged into their eyes to allow the to "see".
Amen Baby!
@ Funky
Yes, I did something. I was pinging Congressmen who had the moxy to stand up against this bill...sending messages of support as well as my own analysis of the situation. After certain of these people folded like cheap lawn chairs, I sent messages respectfully asking them to resign from their positions, explaining the reasons why I thought that now necessary.
I vote.
I talk to people about the collapse of our nation, economically and morally. I argue.
I post my thoughts here, and I often link others to the site.
And one day I will run for office...but I'm still working on my bunker just now. I figure that the masses may want me to represent them in the post zombie apocalyptic America. I am laying the ground work.
You?
Me? I'm filing out an application form to become your right hand man.
Please, submit your qualifications here...and I'll consider your application.
The Right Hand position is filled. You may apply for the Left Hand position, which is every other weekday and both weekend days with only Christmas and Easter off. You'll fill in while his other hand is busy typing or mousing...
I called my rep today. He voted for it anyway.
Yeah, same here. I yelled and screamed at the last townhall meeting, got a standing ovation, sent emails, made phone calls, and yet Joe Barton still voted in favor of this trash legislation.
His site is talking about what a great bill this is and how it is heading us in the right direction. I in turn sent a rage and four letter word email regarding his opinion on this amoung other things.
Im ready to hit the streets, I am sick of this shit!!!
Same here Hansel. I call and write and always receive the standard stiffy finger replies. I always respond back to say "Fuck you very much and good luck on your next election." I do this as therapy knowing in advance it does nothing but add my name to the list. Venting frees the gasses.
I do believe as things continue to go into the shitter more and more people are getting pissed. When and what happens is always an equation of reaching critical mass. Sadly it appears it will be awhile before we reach critical.
We fight here to hone our arguments. Go forth and expand the fight club to all the lands.... Long Live ZH and all those Tylers.
I bought some nickels. . .
Yeah, what happened to the all-powerful tea baggers. Did the Koch brothers authorize a yes vote.
http://showdowninamerica.org/video-protestors-interrupt-debt-ceiling-vote
Some people from National People's Action did.
I had never heard of them before, figured they were just another group bussed in by some lobbyist group whether it be for the left or right. I looked into the group, and didn't find any. Thumbs up NPA, and get a WI chapter!
Short squeeze tomorrow. PMs plunge. NFP beats. On to ES 1400.
And I will be buying pms hand over fist in weakness.
Uh oh. GC already showing stress cracks.
http://finviz.com/futures_charts.ashx?t=GC
LOL! I say to you, what is cracking right now is the resolve of the mentally retarded algorithmic programer who wrote the code that instructed some great big institution to purchase the Roach Motel [SPY] tonight in the after hours on the known catalyst of the House voting to pass this bill...on a day when the tape was literally miserable.
That is what is cracking, sir.
ummm PMs are going . . up
Universal understandings and truths are no longer so universal.
"NFP beats. "
Only to be revised ..... downward. After the dust and rhetoric has cleared.
More time to buy GLD.
I'm making a large purchase tomorrow at local coin dealer. Silver will be a smaller percent in transaction.
Musical chairs -- but BETTER! The music never stops and there's always a chair!
This is a victory against hate, bigotry and ignorance.
Doomer libertarians should read some serious economics instead of crying.
The global economic recovery can now continue unrestrained.
You should use max leverage and get long the NQs with no stop.
People, IT'S A JOKE FER CHRISSAKES!!! (sheesh)
...or are we supposed to "salute" the humor by downrating it?
It's double top secret...
And how could the global economic "recovery" be restrained otherwise? A simple no vote by about 60 congress people that voted yes, would have flipped the global economy into a depression? What sort of economic system is based on the outcome of votes?
One in which votes are purchased, of course.
Hamy,
I hate to bust bubbles but your shtick ain't funny anymore.
What bait is best for Trout Hamy???
And now Hamy appears after TSA Thug gets a ridin' for showing his 'Wanger'....
It is still amazingly funny that you still get junked for not being Harry.
He's baaack!!!
"This is a victory against hate, bigotry and ignorance. "
So true. Now people can get the credit they deserve. Hopefully they will spend it all on upscale home furnishings (at your Detroit store, no less). Tell the haters just how many jobs you have "created, or saved" this year alone Mr. Hamy! Many, many UP Green Arrows for you sir!
HamyWanger
Waving the flag does not make war into peace, nor debt servitude into freedom.
Boundless credit make possible boundless militarism as well as boundless debt,
asd it is indebtedness that facilitates the upward transfer of wealth to financial racketeers.
The fake debt ceiling "crisis" is being used, much like fake Iraq WMDs, to promote warmaking and financial racketeering, to the detriment of all else.
The export of jobs will continue, the deterioration of the infrastructure will accelerate, the self-defeating war on drugs and mass incarceration will increase, global militarism and global corporatism will be pursued, and such will be the "unrestrained" so-called "recovery".
I fully expect the reflexive flag wavers to resort to their reflexive strereotypes, branding all those who oppose such "recovery" with some label they deem unsavory, whether it be libertarian, communist, socialist, terrorist, terrorist sympathizer, "doomer", or depending on their chosen team, Democrat or Republican.
Anyone keeping a running tally of the amount of times our elected officials have fucked over their constituents in favor of the financial class? I've lost count...
Start with a nice round number, like say, 2.5 trillion?
$8333 for every person in the US?
See debt clock.
The Printee askes the Printer for more money......
Fed says, you want a Trillion?
Here, have a FuchZillion
I'll see that and raise you 10-brazillians.
Just go to the home depot in a pick up truck and they jump right in.
i put a voodoo drop dead hex curse on all of them. it sometimes takes a while to work, but it will nail every one of them eventually
On a long enough timeline...
Want to oppose this shit? See www.dixienet.org. We have 3 choices: 1) serfdom; 2) revolution; or 3) secession. I prefer door #3 . . .
"I prefer door #3 . . ."
Which in turn might open door number 2. Not that either are a bad thing.
You are correct . . .
Dow 14,000!
just keep those checks coming
I recommend a vote of "No"
May they all die the slow and painful death of a thousand cuts. May their children and loved ones spit on their graves.
We now return you to your regularly scheduled program. Thanks for watching. What a disaster.
And there goes the plunge in gold, now it is......oops, UP, to 1618. And then we crash to 1,650 on gold. Oh wait, that is higher. Hmmmm. How the hell is my daughter and your sons and daughters going to pay back 16+ trillion dollars. How? And don't give me bullshit on growth. We are done.
Well the children won't have a means of earning income so there is no need to worry.
You forgot the $5 trillion+ in debt paper held by FM&FM. Total soon to be: $22 trillion. Endgame mid-2012. Reason Congress doesn't do budgets anymore is to cover up the red ink as best they can....
"One McRoadkill Double! Would you like flies with that?"
Wow, that's a pretty big margin.
I'm amazed that an extra 41 no votes weren't cast. That's a guaranteed 41 repugnicants who just gave up re-election chances when they could've voted no and tried to come back after the next election.
You've really got your finger on the pulse of the electorate there Sparky...
Those golden fasci in the House are lookin' mighty shiney!
Choose your symbols wisely, or they might behead you.
Oh, AA is what i crave, but i misbehave, AA tomorrow, might bring sorrow
What a joke, a truly nasty joke. We have a leadership that is so warped, they have guaranteed the economic collapse of the US.
When I saw the House passed it, I thought maybe Rand Paul will filibuster tomorrow. He was on Larry Crudlow's show almost immediately after the vote cleared the House and said he would vote "no." I'm pretty bummed he didn't say he would at least try a filibuster. We're fucked.
You mean the Fed’s controlled liquidation collapse.
Ponzi On!!
Congratulations to all my Ponzi_licious friends in Con_gress for a job well done!
A TRILLION Thank yous.
-Your buds in the WS-oil-military-industrial complex
(After party at the compound....don't pack)
For the time will come when you will say, 'Blessed are the barren women, the wombs that never bore and the breasts that never nursed!' (30) Then "they will say to the mountains, 'Fall on us!' and to the hills, 'Cover us!'"
Maybe Mr. Jesus was a bit of a drama queen? or maybe not...
1st year cuts are only 7 billion. Buy gold. Short dollar.
"cuts", your cute. ;)
The EU/ECB just said F*(k -- now we are going to have the spotlight on us again.
My comment finally appeared above. Guess the servers can get overloaded on this site.
debt ceiling increase was passed...
and not a single f*ck was given amongst the American people
Silent but Violent BLYTHE>>> -2
If you be offerin', I'll be acceptin'.
I remember where I was and what I was doing when Kennedy was shot by Oswald, Lennon was shot, and the two space shuttles blew up. Now I will forever remember where I was when the death warrant for the dollar and our economy was signed - reading Zero Hedge.
Sheesh are you that old!?!
"Sheesh are you that old!?!"
My guess is that he is 56 years old (2011-1955). <- and I'm not even IQ101!
Us old guys need to stick together.
I will be 57 in early September. You were right on the money. I'm impressed!
The full flush and bitter rot of empire in a single lifetime. Oh, for 1960 again.
more cocaine please, I'm trying to quit