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Live Webcast Of Obama Proposing More Spending As The Solution To All Of America's Problems
Actually, we are not sure just what the president will discuss in his 10:15 am address on the economy, but our suggestion that the president will suggest more spending as the cause solution to all of America's problems seems like a fair guess. That or blaming Merkel for the epic NFP miss last Friday. We are not sure what the shot keyword is today (aside for thingamajig of course), but we know what isn't: $15,734,596,578,458.59. That's was US Federal debt as of close on Wednesday: another fair guess is that it will receive exactly zero prominence in Obama's latest sermon.
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Obama addresses the Economy?
What could go wrong:))))
Doesnt the market always dip when he talks?
As of 1023 EST dow is down 25, it will be lower when he's done talking.
By "talking" you mean "reading aloud", right?
But of course
Guarantee you that the effer was busy watching the NBA game last night. Ok, obummer speaking now, time to go short.
“The problem is, is that the way Bush has done it over the last eight years is to take out a credit card from the Bank of China in the name of our children, driving up our national debt from $5 trillion dollars for the first 42 presidents -- number 43 added $4 trillion dollars by his lonesome, so that we now have over $9 trillion dollars of debt that we are going to have to pay back -- $30,000 for every man, woman and child,” Obama said on July 3, 2008, at a campaign event in Fargo, N.D.
LIAR!!!!
But, but, but Bernanke is conjuring more Net Worth every day....
I think he just said that "countries that spend more than they bring in have problems.!!!!!!!!!!!!
Did he just say that????
Right, that statement is along the same lines as "we need a credible long-term plan to bring down the deficit, but in order to not jeopardize the recovery we need to increase spending right now"
Folks who think growth is forever and reliable have never studied math. WHENEVER the increment of growth per unit time is proportional to the size of the thing that is growing, it results, inexorably, in exponential growth. Thus, a growth rate of 3% leads to doubling about every 25 years, or about every generation. I don't know about anyone else, but that idea strikes me as ludicrous [unless we start colonizing and/or intensively utilizing the resources in the rest of the Solar System.]
In any event, the way things are going, collapse of the debt structure is inevitable as it requires such growth for its continued existence.
The retarded fucker can't do anything on time anyway.
The only exception is the golf course.
You should see what this POS does to LA traffic when he's galavanting around on fundraiser tours.
you must be unaware of...cpt....
I just got a vision of half a dozen Secret Service guys walking around in the tall grass looking for the Presidential Golf Ball.
SS Man 1: ( quietly, to SS Man 2 ) God damn it, what's he hitting? Titleist?
SS Man 2: Yeah. Number 5.
SS Man 1: Fine. ( takes spare ball with correct number from jacket pocket, and surreptitiously drop it near his foot. )
SS Man 1: ( shouting to others ) Hey, here it is !
SS Man 1: ( quietly, to SS Man 2 ) Why didn't I take the damn FBI job ?
This is going to be like watching Krugman in Blackface I bet.
...more like watching Rocky XVIII ........pitiful
you've seen the (socialist) script a hundred times before, always ending with the star /czar (Stalin, Mao, Hitler, Mussolini) being broke and leaving the country a ruin
but hey, let's not let Barry in on the ending, let him have his dream
You sound like Barry's typical white grandmother :)
Wow, Tyler cue the "Deer in headlights" caption for the questions at the end. I bet he wished he didnt take any, that was brutal to watch.
Guy can't even show up to his own meetings on time....speaks volumes for his experience on running an office, let alone a massive country.
Look at the bright side. In Zimbabwe, $15,734,596,578,458.59 was pocket change.
Monetizing the value of US debt to equal a load of bread 'YES WE CAN'
All that meetings crap is just wearing a suit and kissing the bosses ass because he knows the spell to contact John Frum. He has experience running cargo offices bringing cargo to the community. As for massive country; All cargo is local.
"My fellow Americans. I hereby resign as President of these United States. It is with a heavy heart that I must inform you that we a royally screwed and I am just going to get out-a-Dodge. So good luck, BITCHEZZ....
Then we get Biden.
Is that really what you want?
Biden can't tie his shoes without a set of instructions.
Sure he can...the problem is the instructions are from Corzine and now his shoes can't be found.
Yes, but does he follow them?
Biden has "TGIF" written on his shoes - stands for Toes Go In First.
CrimsonAvenger - Thanks! that is some funny shit! I just spit water all over my laptop!
remember the famous LBJ quote:
He couldn't pour piss out of a boot with a hole in the toeand the directions on the heel
That worthless fuck can't tie his shoes without an assistant. He only takes off his retard helmet for photo-ops.
The truth of your comment notwithstanding, have you ever seen a set of instructions to tie a pair of shoes ?
Can someone, anyone group of honest Police/Military arrest this motherfucker along with 534 House members (excluding Ron Paul) plus 99 Senate members (excluding Rand Paul) plus a President/VP and attorney General.
Charge them with Treason, Crimes Against The American People, Crimes Against Humanity. Have a fair trail, convict, then execute them?
Can anyone please?
Hello? Anyone?
Looks like rand Paul endorsed Romney. He's crossed off of my list.
wont change my vote....voting for ron even if i have to write it in in blood
I first voted for Ron Paul in 88... If I vote, I will do so again. My comment was about Rand.
Wait until you find out what he got for his endorsement.
Like .. what job.
Obama will use this press conference to announce a $2 trillion QE.
If Obama addressed the economy, I hope the economy returns to sender.
Now we know "short term" is four years.
I almost feel sorry for the guy if it wasn't for the fact that I don't like him as a president, he regurgitates what his idiotic economic advisers tell him is the reality of the economy (blind leading the blind), and that he and along with the rest of our current form of government are nothing more than a collection of self-serving psychopaths.
The problem relly is that his economic advisors are William Ayres, Van Jones, Valerie Jarrett, Cass Sunstein and Carol Browner to name just a few.
Dow plunges 2000 points....
You call that wrong? I'd say " it's about damn time".
Was ANYONE listening?
So what's the big deal? We "borrow" short term a 0%. If we/Obama
runs low, just "borrow" more. Its free isn't it? How come your grandfathers weren't
this smart?
thingamajigs......
his speech...the republicans don't want to give you thingamajigs. Let me be perfectly clear, i am the thingamajig president. now mitt romney will tell you that we already have too many thingamajigs but that is not true. as the thngamajig president i will make sure that our youth has acccess to the best possible thingamajigs that federal largesse can buy.
Is wanting to buy a watchamacallit now a dissident belief?
Yes, President O'PeckerHead said there will not be any DEFLATION as long as he is still hanging around but The NUTS in his cabinet will be removed after the Bilderberg decision this past weekend in Chantilly VA. to replace him with another Bain Capital man. Sorry O, you've been Lorena Bobbit-ized... Enjoy the retirement, loser...
Oh goody. Give me my $3,500 so I can go buy thingamajigs for my living room.
While you're at it please put me on the Food Stamp program.
After all, I'm entitled to it.
</sarc>
How about a shot every time he blames Bush? Be bombed in 5 minutes.
Be careful suggesting "bombing" around President Peace Prize.
Oops - poor choice of words on my part indeed. Sloshed?
Ready with the purple drank...
Headline on Bloomie early this morning: Obama Increases Pakistan Drone Hits as Disputes Sour Relations.
You said shot and bombed....you must be a terrorist.
Yeah but he blamed Bush so he gets a free pass...
If he wasn't before, he's on the list now.
When speaking of O'bomb-a, being bombed in 5 minutes can take on more than one connotation.
I'm totally in!!! Wooohoooo! That includes the suggestion of blaming Bush by the use of the word inherited.
15,734,596,578,458.59
Nothing a fresh, crisp printed note cant take care of with some change back for blow and hookers.
http://justforsneaks.files.wordpress.com/2011/01/zimbabwe-100-trillion-dollar-bill-obverse.jpg
What does it mean: "I promise to pay the bearer, on demand, 100 Trillion Dollars"? does it mean that you can redeem a $100 trillion bill for another $100 trillion bill?
Si.
I'll check back arond 11:30 he might show up by then. This should be good for a couple laughs.
He's finishing a cigarette he'll be there 10:45am.
Teleprompter directly linked to Lloyd Blankfein's keyboard.
LOL...SPY just printed a doji top as he's about to speak...here comes the monkey hammer.
I just gave myself a junk for being a fucking idiot and thinking that "technical indicators" would play out logically when piece of shit algos are running the show.
Fuck you HFT assholes!
This is turning into quite the three day rally. Will it continue on Monday?
He's gonna send me my free munney! :-)
4 years sure goes by fast. This guy is finished
How late will he be?
Oh goodie - El Presidente Ofail going to address the unwashed again? Must be another one of those days that ends in the letter "y".
I'm pretty sure I'd rather suffer a couple of swift kicks in the pills from a 7th-degree Tae Kwon Do black belt wearing steel-toed boots than listen to another smarmy, smirk-filled word spoken by Barry Oscrewyou. So have fun with this.
The most we can hope from this speach is Obutthead trying to explain why the complete clusterfuck we call an "economy" is not his fault, and why it is being affected by outside forces beyond his control. So we are to remember to not hold him accountable come November. Right..... day late dollar short Barry.
Whaa.. Whaaaaaaaaaaaaaaaaaaa. Wha. Whaaaaaaaaaaaaaaaaaaa…
Click
OK, you guys listen to him and I'll read your comments. I can't actually stomach him this soon after breakfast.
He just said you're going to a re-education center.
"food stamp president"
He's late. Maybe Michelle finally went "all the way down."
I'm pretty sure she is too young, too black and too female for his taste.
I bet that the only thing she goes "all the way down" on is a fried chicken leg. Yeah...I went there...
Next he'll be telling the National Association of the Successfully Rehabilitated (Yes, I know) that they can Lean on him. Ain't far from turnpike toilet humor.
You'd think the POTUS (TOTUS?) could start his own press confernce on time.
He's probably announcing that he'll be suspending the election in order to finish getting all of the terrorists and so he can fix the economy. It will all be Bush's fault.
When can I expect my $3000? Those thingamajigs certainly aren't going to buy themselves!!
$15,734,596,578,458.59
Not every day you get a number containing six punctuation marks.
Someone's reviewing the notes to remove all reference to 'how far down Michelle goes'.... http://www.youtube.com/watch?v=28Er5RnaL1I&feature=share
Spending is neither the cause nor the solution, rather a byproduct. When virtually all money is loaned into existence with interest attached at creation, more money must be created in order to roll debt forward... forever. Only at some point, the mounting interest destroys the productive economy. Sovereign debt (money) is still just debt to the system, and is merely picking up the slack as the rest of the world began to bail on the debt issuance ponzi scheme. The dam is ready to burst with cascading defaults. The world is insolvent.
Debt supersaturation. The black swan is really a crystal.
http://youtu.be/0wifFbGDv4I
According to the theory of Astrotometry, math is not two dimentional (as in a graph), but three dimentional. Obama has it all figured out.
Duh. I don't think so!!
5 putting 18 AGAIN??
He doesn't get out of bed that early...
PPT was at it again!
stolen teleprompter again?
markets about to go green, so it must be he doesn't feel the need to address the peasants today.
thus explaining his current lateness and ultimate non appearance on our screens.
it's all good, the peas and thingamajigs stimulus package is working perfectly...
As long as they play "Hail to the Thief".
"If it were not for Bush and Europe and now Merkel's austerity politics, I would have those $3,000 thingamajig checks int he mail to all of you."
Is this guy ever on time for anything??
Being late, in other words, mean: "Who's the daddy?"
Dude he is out back in Choom Wagon One getting his smoke on. Or he's finishing up his latest MDB_ post.
Choom Wagon One or is it Choom Chopper One?
They have to print.
Then they have to spend what they have to print.
No big and challenging economic decision there.
That's all anyone needs to know. All of Kabuki theater over spending, austerity, entitlements, etc... it's just that... theater. They have to print... then they have to spend what they have to print. Or as pods pointed out somewhere in this or another thread... they aren't really "printing"... that isn't the mechanism exactly... it is borrowing, right from the very beginning.
The ZH community really needs to stop referring to "printing". The Fed does not "print", which implies giving money away. What the Fed does is "loan". All of the QE events have been loans that the Fed expects to be repaid. So here is your post corrected:
"They have to loan... then they have to spend what they have to loan".
I (we) use the word "print" loosely. Yes it means what you both said above.
I think that is incorrect. As I understand it, when the US Treasury spends more than it makes, a bond is issued and the Fed auctions it off.
When the Fed wants to buy something, however, it creates new money out of thin air by pressing one of the function keys on the keyboard.
With Quantitative Easing, $2 are created for every $1 the government spends; $1 is created when a new bond is issued and sold to the Primary Dealers, and then the Fed creates another $1 when it buys the bond back from the Primary Dealers.
If this is incorrect, please explain how it is incorrect.
It is a little murky to me as well, but here is how I understand it. The government runs a deficit and the Treasury has to issue bonds. The Fed buys those bonds with U.S. dollars that it generates out of thin air. The Fed now holds those bonds and collects interest on them. At the bond's maturity date (theoretically at least) the Treasury would pay off the bonds. So in effect, the Fed is loaning the government money on which it gets paid interest and eventually gets its money back.
That would be direct monetizing of the debt and is verboten. As far as I know, the Federal Reserve Cannot buy the bonds directly from the US Treasury for some reason.
The "profits" the Federal Reserve makes, above its operating costs, are remitted to the US Treasury for use as general revenue for the following fiscal year.
The FED has to buy them from the PDs, you know, so they get their cut.
pods
I can't wait to see this fraud's Nixonesque wave goodbye (complete with shit-eating grin) just as he boards Marine One for the last time this January...
A full bottle of Tequila if he says "my homie Benny B" or a derivative of
I drank a full bottle of Tequila once about twenty years ago..I'm still trying to figure out how I woke up in a dress.
I wonder if there'll be commercial breaks for Depends.
Boy those pearly whites on the black dude would look Great with a boot print on them...
I'm taking a shot every time he mentions a new spending program.
I'm taking a shot every time he suggests raising taxes on anyone.
You'll be shitfaced in no time at all!! :-D
You're talking scotch, not hollow tips, right?
Dalwhinnie for me today, drinking cheap.
Where I come from Dalwhinnie is premium.
Kinda a undercover brag there. Many would not consider a 50$ bottle of scotch cheap.
As far as single malts go it is cheap. Blends are cheaper, but life is too short to waste on blended scotch.
Bowmore will run you about $50 a bottle and it is a fine entry level Islay single malt, I highly recommend it for the price and it's flavours. If you want to step up a bit at about $70 Laphroaig is mighty tasty, with great smokey peaty flavours and excellent after dinner with a fine cuban cigar.
Drink Islay single malts. Campfire in a bottle.
Islay is BY FAR my favorite distillery region for single malt scotch! +1 to you sir.
I have a cat named Peat.
I have a dog name Smokey.
I believe it's blame game friday..
Congress failed to pass:
The Jobs Plan.
Suggestions during speech:
Pass a bill to help States re-hire 400,000 layed off government employees. (1 shot for spending)
Pass a bill to hire 1,000,000 layed off construction workers for infrastructure repairs. (1 shot for spending)
Pass bill to refi mortgages to save $3000/year. (1 shot for spending)
Pass a bill giving tax breaks to Small Business Owners to hire more people. (1 shot for spending)
Keep typing, fuu. I wanna see where you go with 4 shots in you. :)
U dwwk dubw!
tax breaks != more spending so scratch that last shot(unless you already took it)
Tax breaks mean lower revenue. Less coming in but the same going out means more deficit spending right?
Tax breaks mean lower revenue.
Not if the marginal change in the tax rate is less than the marginal change in the economic output. This time is probably different, but cutting tax rates historically has yielded more tax revenues.
I was a little too buzzed there for a bit to run it through, thanks! Plus I guess there would be more tax revenue from the new workers as well. I junked my earlier post for being lit.
He will be speaking on how much money he will be saving the US taxpayer as our stronger dollar makes his wife trips cheaper to Europe...
It's all about saving. The more trips you take the more $$$$$$$ you save.
Come on, you fools, the debt would be $15.7 trillion if McCain had been sworn in on 1/20/2009.
Probably more than 15.7 Trillion. He would have added more wars to the mix.
It must mean 10:15 Central Time.
It's too damn early to be drinkin' already..Shit!
My fellow world citizens...we are now moving on to the next phase of operation "Bring America to it's Knees". We have maneuvered troops to stratigic parts of the country and we have fema camps prepaired to recieve "refugees". You will witness some spectaciular explosions throughout the country for your viewing pleasure . The disarmament of the American citizens will begin shortly.....please stay tuned for a word from our sponsors.
And unlike the FLOTUS, this sucker's going 'all the way down'...
Speaking of sponsors, anyone else see the 'Become a Gunsmith' ad on this page with the Polish handgun? Priceless...
http://i1259.photobucket.com/albums/ii543/krispkritter/Gunsmith.jpg
so...anybody bring a deck of cards?
I have eaten my peas and bought my thingamajig, so now I wait for Obama to tell me what I need to do next to save the country.
$15,734,596,578,458.59
I would wager that 1/3 of the american people can't read that number out loud.
It takes more time to say than the average citizen spends thinking about the National Debt in an entire year.
Fifteen trillion, seven hundred and thirty-four billion, five hundred and ninety-six million, five hundred and seventy-eight thousand, four hundred and fifty-eight dollars and fifty-nine CENTS! Whoo! The 59 cents is for a red grease pencil at the U.S.D.A. field office in Keokuk, Iowa.
BHO's political prospects are looking worse by the day. People are realizing that smarmy Harvard wankers are interchangable, and Romney would perform a service by cranking up things to "11". Lance the boil.
Technically, incorrect - 'and' is only spoken to demarcate a decimal point:
Fifteen trillion, seven hundred thirty-four billion, five hundred ninety-six million, five hundred seventy-eight thousand, four hundred fifty-eight dollars AND fifty-nine cents.
This all depends upon which variation of the English language one speaks - the original, or the battered and bruised colonial bastardisation of said language as practiced in the USA.
The awesome arrogance of US Citizenism is evident once more!
I'm from Eastern New England, I suppose that I'm closer to the source of the Mother Tongue in more ways than one!
One thing that I find odd in modern British English is the tendency to use plural verb forms for a collective, e.g. "England have played well at Euro 2012". But hey, who I am to judge, as you point out....
so, who cares, as you point out it s absurdly out of control, so... There is nothing that can be done, money isnt real, its a concept, Its a game.
Here is what you miss.
Its like the old joke, two guys running from a bear, one says to the other, we are never going to out run this bear, the other guy says I know, Im just trying to outrun you.
That is where we are, as long as the US is the best of the dipshits, we are OK for the time being.
Yeah it all collapses in the end, but so what, we all knew this, this society is not sustainable, never was. You act like we had a second earth in our back pocket or something.
Worrya bout lack of clean water, worry about pollution, they are real, money and debt are but a man made concept.