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Obama Sends Request To Congress For $1.2 Trillion Debt Ceiling Increase

Tyler Durden's picture





 

Update:

  • HOUSE TO VOTE JAN. 18 ON OBAMA'S DEBT-LIMIT INCREASE REQUEST

Two days ago we wondered how long it would take for Obama to restart the debt ceiling theater. Not that long it turns out.

  • OBAMA SENDS CONGRESS REQUEST TO RAISE DEBT CEILING
  • OBAMA NOTIFICATION STARTS 15-DAY CLOCK FOR CONGRESS TO VOTE

So with Congress in recess, will Obama succeed in passing another automatic vote using base trickery? The same Obama, who as recently as 3 hours ago warned Congress that any attempts to pass approval on the Keystone Pipeline without his involvement are "counterproductive"... In other news, America' new debt ceiling of $16.3 trillion, or 107% of GDP is now just a formality, about to be interrupted by a little circus clowning.

From Bloomberg:

President Barack Obama formally notified Congress today that that the government needs more borrowing authority.

 

The written certification to raise the debt ceiling to $16.394 trillion starts a 15-day clock for Congress to consider and vote on a joint resolution disapproving of the increase.

 

Under legislation passed Aug. 2 after months of wrangling between the
administration and Republican lawmakers, the president is given the
power to veto any disapproval resolution that clears both chambers of
Congress.

 

The law calls for Obama to notify Congress when the debt came within $100 billion of the current $15.194 trillion limit.

 

While the threshold was reached Dec. 30, when the president was in
Hawaii and Congress was on holiday break, Obama agreed to a request from
congressional leaders to delay the notification request, ensuring the
deadline for congressional action didn’t lapse before lawmakers returned
to Washington.

 


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Thu, 01/12/2012 - 16:10 | Link to Comment surfwon
surfwon's picture

I'm sure this is bullish right???????

 

Thu, 01/12/2012 - 16:15 | Link to Comment TheAkashicRecord
TheAkashicRecord's picture

It's bullish for construction, building new ceilings all the time is very expensive 

Thu, 01/12/2012 - 16:16 | Link to Comment redpill
redpill's picture

Who will you vote for in 2012? Obamney, Romnama, or Paul?

Thu, 01/12/2012 - 16:21 | Link to Comment Sudden Debt
Sudden Debt's picture

Obama Has all the symptoms of a shopAholic.
My guess is that it's just to late and not even Ron Paul can fix this. We all should cut expenditures with 50% to get to normal levels in the next 5 years but how would our economy look like if they did that?

All those government services that we would have to miss out on....

Thu, 01/12/2012 - 16:26 | Link to Comment Pladizow
Pladizow's picture

Bank client asks to raise his personal debt limit : http://www.youtube.com/watch?v=Li0no7O9zmE&feature=youtube_gdata_player

Thu, 01/12/2012 - 16:29 | Link to Comment Born Patriot
Born Patriot's picture

I’m FED UP with this MUSLIM president Barack HUSSEIN Obinladin destroying this great country with his anti-American BS. It’s time to get back to the CONSTITUTION so we can rebuild this country. Vote Ron Paul 2012!!!

Thu, 01/12/2012 - 16:31 | Link to Comment GeneMarchbanks
GeneMarchbanks's picture

I noticed you don't curse in your batshit insane rant-a-thon, now be honest, you work for the Mittens campaign?

Thu, 01/12/2012 - 16:36 | Link to Comment flacon
flacon's picture

How come the governemnt can't just print our tax money - afterall, the federal tax revenue is only $2.3T - if they can print $1.3T, it's only a little more and then we won't have to pay taxes at all. 

 

/rhetorical question

Thu, 01/12/2012 - 16:44 | Link to Comment Pladizow
Pladizow's picture

Tax is the way the US Gov manages inflation.

They can print and use as much as they want and then remove it from the system by taxing its citizens.

Therefore, if they print more, they will tax more!

Thu, 01/12/2012 - 17:45 | Link to Comment SilverRhino
SilverRhino's picture

If government expenditures were LESS than collected tax revenues + borrowing your argument might actually have merit.  

The reality is they spend every DIME they collect and then borrow more.

Printing the tax revenues from income tax is actually a damn good strategy as EVERYONE holding dollars gets taxed (aka 3% inflation wealth tax).   Import duties and other excise taxes would also work at the federal level.  

Thu, 01/12/2012 - 18:52 | Link to Comment Pladizow
Pladizow's picture

How many more dollars would you spend if every dollar you made for the first 3-4 months of every year, didnt go to Washington?

In the adsence of income tax, let alone all the others, inflation would be considerably higher!

Thu, 01/12/2012 - 18:52 | Link to Comment FEDbuster
FEDbuster's picture

Since we are so far down the rabbit hole, we may as well go "Zimbabwe" now.  Since the rest of the world still takes dollars for payment for their goods and resources, let's give them some more dollars.  Keep maxing the fucking credit card till someone cuts the fucker up.  Let the FED's balance sheet go to 10 trillion, 100 trillion, etc.... They say the FED's balance sheet has no limits, so let's black card the motherfuckers.  Maybe Obama can just send a $100K to every American this year to get re-elected?  No one should have to work or pay taxes anymore, we should just "print" money and buy all the stuff we need from the chumps in other countries.  If they don't like taking our money, we'll just nuke them.  How's that for an economic plan? 

 

Thu, 01/12/2012 - 19:35 | Link to Comment CompassionateFascist
CompassionateFascist's picture

I'll buy that for a dollar.

Fri, 01/13/2012 - 03:27 | Link to Comment geekgrrl
geekgrrl's picture

That is the economic plan.

Thu, 01/12/2012 - 18:18 | Link to Comment Dr. Acula
Dr. Acula's picture

>How come the governemnt can't just print our tax money

They do some of that right now using obfuscatory mechanisms like the Treasury, Fed, primary dealers, and bond market to increase the national debt. Printing all the needed money outright would work too - at first - but it would make the government's counterfeiting and theft too blatant, too obvious, and too easy to abuse. It increases the chance of hyperinflation - a crisis where people panic and begin trading dollars away for anything of value, resulting in the dollar becoming valueless and being wholly ejected from the sphere of commerce. Hyperinflation has repeatedly destroyed fiat currencies throughout history, including the US's continental dollar. (Hence the phrase, "not worth a continental".)

 

Thu, 01/12/2012 - 16:42 | Link to Comment redpill
redpill's picture

If they curse they have to give back their special undies, you know.

Thu, 01/12/2012 - 17:13 | Link to Comment YBNguy
YBNguy's picture

Pay the man, or youre a RACISSSS! :(

Thu, 01/12/2012 - 16:46 | Link to Comment Dapper Dan
Dapper Dan's picture

I am reporting you Patriot,

DHS encourages recipients of this document to report information concerning suspicious or criminal activity to DHS and the FBI.

(U//LES) Rightwing extremists are harnessing this historical election as a recruitment tool. Many rightwing extremists are antagonistic toward the new presidential administration and its perceived stance on a range of issues, including immigration and citizenship, the expansion of social programs to minorities, and restrictions on firearms  

The DHS National Operations Center (NOC) can be reached by telephone at 202-282-9685 or by e-mail at NOC.Fusion@dhs.gov.

 

 

Thu, 01/12/2012 - 20:05 | Link to Comment MarketWatchTerrorist
MarketWatchTerrorist's picture

Every white race realist in the U.S. should be making plans to flee the Fascist states of America and move back to the white European homeland enmasse to make our final stand against the non-white hordes.

 

The U.S. police state has made it abundantly clear that it does not want you here.  It does not want whites emigrating to the U.S., it does not want whites having children.  It does not want whites getting educations or having jobs.

 

Every policy of the Obama government is an attack on the white race.

Thu, 01/12/2012 - 20:45 | Link to Comment Cathartes Aura
Cathartes Aura's picture

on you go then, back to your "white European homeland," who waits with open arms. . .

Fri, 01/13/2012 - 16:24 | Link to Comment DaveyJones
DaveyJones's picture

did all those big black bankers clue you in?

Thu, 01/12/2012 - 17:12 | Link to Comment xela2200
xela2200's picture

Why are you fed up with Obama? Presidents now a days are just front man for special interests. That is why RP will never become president.

Thu, 01/12/2012 - 16:34 | Link to Comment Sudden Debt
Sudden Debt's picture

:) nice clip :)

Thu, 01/12/2012 - 16:25 | Link to Comment drink or die
drink or die's picture

When they start cutting government handouts, the Free Shit Army will be on your doorstep.

Thu, 01/12/2012 - 16:26 | Link to Comment SHEEPFUKKER
SHEEPFUKKER's picture

What's a few trillion among thieves?

Thu, 01/12/2012 - 16:28 | Link to Comment metastar
metastar's picture

Mom,

Can you send more money?

Thanks.

Thu, 01/12/2012 - 16:33 | Link to Comment Manthong
Manthong's picture

No problema.

The Super Committee, er, I mean the automatic spending cuts in the last deal just a few months ago left plenty available for an increase, right? 

Thu, 01/12/2012 - 17:13 | Link to Comment SheepDog-One
SheepDog-One's picture

Can I haz another $1.2 trillion? 

Utter insanity.

Thu, 01/12/2012 - 21:10 | Link to Comment BigJim
BigJim's picture

A trillion here, a trillion there... pretty soon, you're talking real money.

Thu, 01/12/2012 - 22:49 | Link to Comment dark pools of soros
dark pools of soros's picture

more like pretty soon you're talking real ponzi

Fri, 01/13/2012 - 05:46 | Link to Comment Overflow-admin
Overflow-admin's picture

No can haz cheezburger anymoar?

Thu, 01/12/2012 - 16:41 | Link to Comment X. Kurt OSis
X. Kurt OSis's picture

...and that Free Shit Army is the Baby Boomers who have seized power across every level of government and will drop us all in the meat grinder as long as it doesn't interfere with their free stuff and other guarantees.  This is one generation against every generation to come.

 

Thu, 01/12/2012 - 18:58 | Link to Comment FEDbuster
FEDbuster's picture

They are like Madoff investors, but most don't know it yet.  When the Ponzi crashes, they will be pissed. 

Look for a man-made, pandemic flu to take most of them out within the next five years.

Thu, 01/12/2012 - 20:48 | Link to Comment Cathartes Aura
Cathartes Aura's picture

have they engineered it to target an age group now?  fascinating. . .

Thu, 01/12/2012 - 23:19 | Link to Comment FEDbuster
FEDbuster's picture

Work in progress.  Usually they warn all the "seniors" to get their flu shots.  What better way to pass along a "death" marker.  I know it sounds like crazy internet conspiracy crap, but in some college lab in Holland they just perfected an easily passed, high mortality bird flu virus.

"Researchers in the Netherlands have created a mutated, highly contagious form of the deadly H5N1 bird flu strain that some fear could kill millions if it were unleashed on the general public. The U.S. government wants to keep the methodology behind the strain's creation under wraps for now, fearing its release could heighten the strain's potential for use as a weapon of biological warfare."

http://abcnews.go.com/Health/highly-contagious-bird-flu-virus-strain-cre...

Fri, 01/13/2012 - 00:53 | Link to Comment Cathartes Aura
Cathartes Aura's picture

oh, trust me, I've been on this case for a few years now, since Jane Burgermeister was filing lawsuits against Baxter, the FDA, and the WHO for the "accidental" release of a live virus in vaccines shipped - she's been heartily persecuted, of course, including smear campaigns, losing her job, and being hounded on any blogs set up to get the news out - here's a couple of links to get you going, if you're interested:

http://www.naturalnews.com/025760.html

http://birdflu666.wordpress.com/

and a bit of the history of nationstate biowarfare, centuries of it actually,

http://www.aarc.org/resources/biological/history.asp

 

my reply to your other post was just a bit of snark re: your targeting "boomers" - babies, kids in school, anyone in the "health professions," teachers - the age groups targeted by the vaccines are non-specific, sadly. 

and vaccines may not be the only method of delivery.

Fri, 01/13/2012 - 07:53 | Link to Comment Element
Element's picture

The U.S. government wants to keep the methodology behind the strain's creation under wraps for now, fearing its release could heighten the strain's potential for use as a weapon of biological warfare."

 

Wow! ... you mean they just, like, developed it, ... like, ... totally by accident?

Gee, so clever! .. I wish I could be so smart.

It's a good thing they were working on it anyway. 

At least they care enough to take an interest in such things.

They are making real advancements.

I'd love it though if they could cure the common cold ...

I mean ... wtf  ... it's like, ... taking so fucking long!

At least they are saving us from these really serious ones.

Someone should get a nobel prize or something?

At least they did something to get it ...

Something that will help everyone one day. :-)

Thu, 01/12/2012 - 16:46 | Link to Comment Whoa Dammit
Whoa Dammit's picture

"When they start cutting government handouts, the Free Shit Army will be on your doorstep."

Oh shit! Jamie Dimon's gonna show up at my house expecting dinner. Break out the good Chinet!  ;-).

Thu, 01/12/2012 - 16:50 | Link to Comment Gringo Viejo
Gringo Viejo's picture

Disclosure: Long: Buckshot        Short: Empathy

Thu, 01/12/2012 - 16:26 | Link to Comment bsdetector
bsdetector's picture

OT and I am cutting the line but having just viewed the TMZ video of the Marines urinating on the dead Afghanis is just so far over the top that I have to scream. So this is my scream. We should be out of that country tomorrow!!!

Thu, 01/12/2012 - 16:33 | Link to Comment Sudden Debt
Sudden Debt's picture

I KNOW!!!!

Urinating in public.... There should be a law against it...

Thu, 01/12/2012 - 17:27 | Link to Comment bsdetector
bsdetector's picture

SD sometimes I engage in humor as a means of letting the sawdust out of a stuffed shirt. In this case I do not think humor is appropriate.

Thu, 01/12/2012 - 18:26 | Link to Comment buddybear
buddybear's picture

Everyone is upset that they were pissing on these people, but, no one says a thing about killing them on the first place. Get shot dead or get pissed on? Ohy, haw about both.

Thu, 01/12/2012 - 18:38 | Link to Comment Dr. Acula
Dr. Acula's picture

They should make predator drones that shoot people and then pee on them.

 

Thu, 01/12/2012 - 19:02 | Link to Comment FEDbuster
FEDbuster's picture

Some people pay big bucks to get pissed on.

Thu, 01/12/2012 - 19:37 | Link to Comment andybev01
andybev01's picture

Lord knows the American taxpayer does.

 

(Think about it...)

Thu, 01/12/2012 - 19:39 | Link to Comment nmewn
nmewn's picture

Taxpayers? ;-)

Thu, 01/12/2012 - 19:50 | Link to Comment bsdetector
bsdetector's picture

Those Marines remind me of the police officer in Oakland who threw the flash bang into the group who were attending to the injured protester. And also the cops who pepper sprayed the girls in NY and at the California University. It is an abuse of power combined with a lack of respect. And yes, its also the politicians who socialize losses and put the bill to the taxpayer. Maybe its the root of all our evils... abuse of power and lack of respect. Tyranny of the majority?

Thu, 01/12/2012 - 21:36 | Link to Comment nmewn
nmewn's picture

Well, there can be no doubt allowing yourself to filmed pissing on your dead enemies is pretty stupid, as it provides propaganda for your living enemies.

But comparing this to an assault on the living is a little over the top. They'll be punished for it...good, bad or indifferent.

Who among us would pass on pissing on (insert your favorite evil character here) while he's still very much alive? ;-)

///////////////////////////////////////

Edit: Ahhh, one weak reddie somehow worked his bladder up enough to tinkle down my leg while I wasn't looking...and then ran away...will he soon be posting his bravery and superiority on youtube?

I can hardly wait to see him...lol.

Thu, 01/12/2012 - 22:54 | Link to Comment dark pools of soros
dark pools of soros's picture

I guess a few people still think America is the good guy??  it is only shocking to them

Thu, 01/12/2012 - 23:43 | Link to Comment nmewn
nmewn's picture

In the context of this conversation...they only pissed on their enemies heads. They didn't chop them off & hold them up for the camera.

A small difference to be sure...but still.

Where was the outrage when AQ was carving off other Arabs faces with piano wire to terrorize them into allegiance to them? Where is the outrage now of Taliban making snuff films as recruiting tools? And what of a minority of that culture that abides pediphelia?

Don't be so shocked you forget the things you saw for yourself and wish weren't true.

Fri, 01/13/2012 - 05:35 | Link to Comment respect the cock
respect the cock's picture

Are you Japanese?

Thu, 01/12/2012 - 17:10 | Link to Comment Captain Kink
Captain Kink's picture

All those government services that we would have to miss out on....

 

You've nailed it.  What services?  Highways and Defense are about all I "use".  Maybe one could argue that I benefit from the FDA, though I don't take any prescriptions.  Federal Education spending is useless.  I work until June 30 for all the govt I get.  Instead of cutting my spending 50%, let's just cut the govt 50%.

Thu, 01/12/2012 - 18:43 | Link to Comment StychoKiller
StychoKiller's picture

Captain, Star fleet does not work for free...

Thu, 01/12/2012 - 20:55 | Link to Comment Cathartes Aura
Cathartes Aura's picture

if you are an amrkn, your "services" include a lifestyle based on commodities that the majority of the world cannot afford, combined with not having to host a "war" in your hometown, as amrka outsources those too. . .

amrkn government services you in ways you are just beginning to be made aware of, but many others in the world have known of for decades.

Thu, 01/12/2012 - 17:12 | Link to Comment SteveNYC
SteveNYC's picture

Systemic failure is so baked into the cake already, it's almost irrelevant. It could take a while though, these things just seem to happen when they feel like it (at least that's what it looks like, the hidden ripening of millions of interconnected conditions and causes.....).

Be well.

Thu, 01/12/2012 - 19:05 | Link to Comment TruthInSunshine
TruthInSunshine's picture

This one's "automatic" as a result of the "debt ceiling compromise," but still, let us just see which Republicans do and do not vote to increase the debt ceiling again, whether next year, or again, 6 months thereafter, or 9 months later again....etc.

[I'm not even going to bother mentioning Democrats, because to suggest anything close to more than 5 of their ilk would NOT rubber stamp whatever debt ceiling increase was requested would be the epitome of naivety]

Votes (genuines one) talk & Bullshit (like the majority of empty suit, self proclaimed fiscal "conservatives" blabbing away in GOP debates) walks.


Obama requests $1.2 trillion increase in borrowing limit Salt Lake Tribune - ‎7 minutes ago‎

Washington • President Barack Obama asked Congress Thursday for another $1.2 trillion increase in the nation’s debt limit, a request that is largely a formality but that carries election-year implications.

It was the third and final such request the president was allowed under a deal the White House reached with lawmakers in August to prevent a government default.

The increase would boost the debt limit to $16.4 trillion, which should be enough to allow the government to keep borrowing until the end of 2012, or just after the presidential election.

 

Ron Paul is the only one who wouldn't vote to raise the debt ceiling, even if he didn't have some form of political "cover" that his alleged "fiscal conservative Republicans" resort to when they are....geee....gosh....forced to vote to increase the limit, "even though they really have to hold their nose" while doing so, and all.

Republicans & Democrats, working together to produce an Oscar Award worthy production of Kabuki Theater in terms of convincing Amerikan Sheeple that they don't have the same major goals and don't work for the same Masters.

The false left-right paradigm imperils the nation further with each passing day.

 

Thu, 01/12/2012 - 21:15 | Link to Comment Arkadaba
Arkadaba's picture

I was somewhat heartened by RP's performance in NH. Loved that the exit polls showed he is resonating with a young and somewhat socially liberal crowd. But I think he is going to gain traction among the older folks too. Exchanging emails with a friend who is an ex-wall street guy since 2008 (and a boomer) he sent the following to me:

"I voted yesterday [sic - probably for Romney]. Then watched with great interest Romney’s speech and then Ron Pauls. Like you I always disregarded him as a nut bag [sic - not true - he is projecting]. NO MORE. Although there are a lot of things that I completely disagree with him on, his message of personal liberty, personal responsibility, the need to change the status quo captured my interest. Plus, in a quirky way he is a very engaging character. Glad that his themes are not going to disappear. They are a much more rational point of view than the “tea party” or at least what the tea party has turned into."

Thu, 01/12/2012 - 22:35 | Link to Comment TruthInSunshine
TruthInSunshine's picture

The way that Ron Paul is catching on - in a way I've not ever seen, and no flash in the pan, but on a deep connection level with the people - I do believe many Americans are ignoring the rubbish dressed as "conventional wisdom" that they'd ordinarily be more swayed by in years past.

The sooner the average person realizes that the Main Stream Lame Ass Media (from CNN to Fox/NewsCorp to NBC to Rush Limbaugh to Rachel Maddow to NPR to CBS to Time to USA Today to The New York Times & The Wall Street Journal, and everything in between) is a proxy of the Money Masters/Kleptocracy, and that they are effectively perpetuating the lies that lay at the heart of honest peoples' problems, the sooner the battle is won.

Thu, 01/12/2012 - 16:32 | Link to Comment The Deleuzian
The Deleuzian's picture

Too funny...Obama and Romney are like interchangeable political action figures or Mr Potato Heads...You can change the Party, the Head, social security, the arms, the economic advisors, the ears, the Healthcare system...it won't matter...It's all the same....God.........

Thu, 01/12/2012 - 16:50 | Link to Comment valley chick
valley chick's picture

the best so far today.  +100  ;)

Thu, 01/12/2012 - 18:01 | Link to Comment Tyranny is Love
Tyranny is Love's picture

The question to answer is whether Obama is a one term President or there for two. The election date is (almost) set in stone, even TPTB cant change that (easily). If its one term then they need to collapse Greece and start the dominoes soon so Romney can come in and "FIX" everything. Crash the old system, wright everything off, restart with a New system, blame it all on the last guy! The people are happy. Create chaos (a state of flux) the people demand change, make the changes TPTB require for the next stage.

 

Timing rides on whether Obama is there after Nov or not. Also if its decided to give him a second term then don't be in Iran in October.

Thu, 01/12/2012 - 16:39 | Link to Comment Citxmech
Citxmech's picture

JFC - What's the doubling-time of our debt down to now, anyway?

Thu, 01/12/2012 - 21:14 | Link to Comment BigJim
BigJim's picture

Depends on how many carriers Iran manages to sink

Thu, 01/12/2012 - 17:01 | Link to Comment surf0766
surf0766's picture

I don't think there will be elections in November. Just a gut feeling...

Fri, 01/13/2012 - 00:26 | Link to Comment In Fed We Trust
In Fed We Trust's picture

It aint cheap running 400 FEMA camps,

If you know what i mean,

Thu, 01/12/2012 - 16:17 | Link to Comment greased up deaf guy
greased up deaf guy's picture

time to dust off this old gem from then-senator obama all the way back in 2006...

"The fact that we're here today to debate raising America's debt limit is a sign of leadership failure. Leadership means 'The buck stops here.' Instead, Washington is shifting the burden of bad choices today onto the backs of our children and grandchildren. America has a debt problem and a failure of leadership. Americans deserve better. I therefore intend to oppose the effort to increase America's debt limit."

Thu, 01/12/2012 - 16:30 | Link to Comment LawsofPhysics
LawsofPhysics's picture

What, Politicians lie?  That must be why that conservative house gave him clearance up to 18 trillion.  The two party lie has never been more transparent than it is right now.  Where is that congressional crack suicide squad when we need them?

Thu, 01/12/2012 - 16:33 | Link to Comment nope-1004
nope-1004's picture

I always knew Osama was full of shit.  Never thought he'd actually admit it though.

What a loser he is.  No conviction, no leadership, no spine.  All talk, no action.  FAILURE of a president.

 

Thu, 01/12/2012 - 16:40 | Link to Comment Golden monkey
Golden monkey's picture

Take it easy. The latest stage of insanity is coming soon to a TV screen near you.

Thu, 01/12/2012 - 16:43 | Link to Comment The Deleuzian
The Deleuzian's picture

Nope-1004...It's very likely we'll have 4 more years of it...Just think of it...The fun we'll have!!!  I seriously doubt Romney is elected...But like I said above...It doesn't matter...

Thu, 01/12/2012 - 16:53 | Link to Comment Kaiser Sousa
Kaiser Sousa's picture

Yes he has proven himself to b a very trustworthy house nigger and servant of the elitist lead by the international banking cartel....he really fooled yall didn't he???? Well now u know....
There is no democrat....there is no republican....just the bankers and their servants - the politicians.......

Thu, 01/12/2012 - 17:32 | Link to Comment The Deleuzian
The Deleuzian's picture

What most Gen Xer's knew 20 years ago goes double today...The political process is broken...Now, beyond repair......

Thu, 01/12/2012 - 21:03 | Link to Comment Cathartes Aura
Cathartes Aura's picture

curious statement - "most Gen Xer's knew 20 years ago" that the "political process is broken" - while I agree with the "broken" part, in fact doubt it was ever whole, if you catch my drift - I wonder what you've got these wise Gen Xer's doing for these past two decades?  have they voted even though they knew it was nonsense?  have they been vocalising their wisdom? 

genuinely curious, as I haven't seen any evidence of your statement - certainly not "here". . .

Fri, 01/13/2012 - 03:48 | Link to Comment Arkadaba
Arkadaba's picture

Lots of us work in tech. We've drifited. Many friends work in countries around the world. Not proud of my generation but we did come to age in economically depressed times:

http://www.youtube.com/watch?v=V1Gn0e7kvTA

Maybe this time round willl be better. Definitely a malaise associated with people around my age. I wish it wasn't so.

Fri, 01/13/2012 - 14:59 | Link to Comment Cathartes Aura
Cathartes Aura's picture

there's a "malaise" in all age groups, as much as there is "interest" in voting, or as much as there are people receiving some type of "benefits" - these things cross all media-created "groups" of age/birth.

this tendency to group people by age is a big red herring, ignorance is ubiquitous, as is apathy - so is resourcefulness, and self-reliance - just trying to poke holes in this "age group herding" story is all. . . it's too convenient a metaphor.

Thu, 01/12/2012 - 16:18 | Link to Comment bigdumbnugly
bigdumbnugly's picture

obammy: "debt ceiling?  i don't need no stinking debt ceiling."

 

Thu, 01/12/2012 - 16:18 | Link to Comment slaughterer
slaughterer's picture

Short the shit out of this pig colony market, the Janjuah Bear Army wants you in its ranks.   

Thu, 01/12/2012 - 16:42 | Link to Comment Teamtc321
Teamtc321's picture

Ron Paul 2012

Thu, 01/12/2012 - 16:49 | Link to Comment erdab
erdab's picture

Must be Bullish, Yahoo fianance say volume for DJI is 1.4 billion. Either they really messed up, or we just had the largest volume day in 12 years.

http://finance.yahoo.com/echarts?s=%5EDJI+Interactive#chart7:symbol=^dji;range=20000103,20120111;indicator=volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on

Thu, 01/12/2012 - 17:15 | Link to Comment SteveGennisonBa...
SteveGennisonBallWasher's picture

They meant 1.4 thousand

Thu, 01/12/2012 - 17:35 | Link to Comment Cadavre
Cadavre's picture

Only if the bull is not gelded - in that case it would be "steerish".

Government by continuing resolution - who could've imagined - the days of a "budget plan" look more like old stained and blurred black and white family album photos in the basement of the K-Street Bazaar, also known as the Rayburn Office Building.

Time to get another fist full of silver Liberdads, and buckshot reloads!

Thu, 01/12/2012 - 17:51 | Link to Comment Joshua Falken
Joshua Falken's picture

Does this guaratee QE3

 

Buy Gold, Oil, NOK, AUD BRL 

Thu, 01/12/2012 - 16:11 | Link to Comment inkarri9
inkarri9's picture

Must be...oh and I'm sure the Chinese are celebrating.

Thu, 01/12/2012 - 16:13 | Link to Comment youngman
youngman's picture
Federal Deficit at -$86 Billion

I think he is going to need more..and fast

Thu, 01/12/2012 - 16:14 | Link to Comment Jlmadyson
Jlmadyson's picture

S&P might as well make that 26 sovereigns this week. No need in waiting for later on downgrade #2.

Thu, 01/12/2012 - 16:13 | Link to Comment youngman
youngman's picture

Makes are those newly issued bonds that more valueable right....lol...

Thu, 01/12/2012 - 16:15 | Link to Comment Rainman
Rainman's picture

Debt ceiling is just a political hoax to make the peeps think the runaway spending train really has brakes !

Thu, 01/12/2012 - 16:15 | Link to Comment redpill
Thu, 01/12/2012 - 16:16 | Link to Comment Chupacabra-322
Chupacabra-322's picture

Hmmm, let me see here.  A request for an increase.  Answer, Go FUCK YOURSELF!!!  And the Horse You Rode In On. 

Thu, 01/12/2012 - 16:18 | Link to Comment Cognitive Dissonance
Cognitive Dissonance's picture

You're gonna need a bigger line of credit. Will that be 1 or 2 extra zeros tacked on to the end?

You know what? Let's just go with 3.........just to be sure. That should get you down the road a piece.

Thu, 01/12/2012 - 16:17 | Link to Comment DaveyJones
DaveyJones's picture

it's like disney's haunted house when you first step in. Is the ceiling going up or are we all headed down?

Thu, 01/12/2012 - 16:18 | Link to Comment Asher88
Asher88's picture

QE or no QE...Say hello to the 1300's!

Thu, 01/12/2012 - 17:46 | Link to Comment The Deleuzian
The Deleuzian's picture

The Century or the S&P?  Or both!!

Thu, 01/12/2012 - 16:18 | Link to Comment miker
miker's picture

This go around is going to be very interesting.  I think the Tea Partiers and Repubs have gotten religion about NOT significantly reducing the deficit (e.g., they now understand how serious the depression is and why a hugh slash to federal spending might put us in a tailspin).

On the otherhand, one wonders how long this can go on?  Probably for a long time unless someone stands up and pushes back.  But Japan is over 200% Debt to GDP and we just passed 100%; so it looks like we have a ways to run.

I do believe that it will be for naught though.  I'd much prefer we take our medicine now.  But I think everyone is scared shitless to go that route!

Thu, 01/12/2012 - 16:21 | Link to Comment Cognitive Dissonance
Cognitive Dissonance's picture

"I'd much prefer we take our medicine now. But I think everyone is scared shitless to go that route!"

It is cowardliness pure and simple. And I'm not just talking about "leadership" or lack thereof. I'm talking about average Jane and Joe, for refuse to look much further than their own credit limits.

Thu, 01/12/2012 - 16:59 | Link to Comment GeneMarchbanks
GeneMarchbanks's picture

What Conrad Murray at this very forum aptly calls the "Gimme Dats". From your everyday garden variety bridge bum, to your very shiny skulled central banker. An epidemic of man-children. The disillusioned and terrified. All of this, is forgivable of course. But what these very people are ready to do to keep their illusions alive is completely real and quite violent.

Thu, 01/12/2012 - 16:40 | Link to Comment ljag
ljag's picture

'cept ours is OPM whereas Japan used their savings (mas o menos)

Thu, 01/12/2012 - 17:22 | Link to Comment T-roll
T-roll's picture

No one wants to be the President that was in charge during the 2nd Great Depression, so this will go on for as long as possib

 

Thu, 01/12/2012 - 16:19 | Link to Comment lolmao500
lolmao500's picture

When do SP man the fuck up and downgrades America yet again?

Thu, 01/12/2012 - 16:20 | Link to Comment Gubbmint Cheese
Gubbmint Cheese's picture

Just balance the mother %&@$@ budget B..

Thu, 01/12/2012 - 16:57 | Link to Comment BeerBrewer09
BeerBrewer09's picture

Shoulda went to Norfolk State bastads, you woulda got the same education. You woulda spent a lot less money, SIMPLE FUCKS.

Thu, 01/12/2012 - 16:21 | Link to Comment BlueStreet
BlueStreet's picture

It's the Titanic and you know the old saying about boats - Bust Out Another Trillion. 

 

 

Thu, 01/12/2012 - 16:21 | Link to Comment williambanzai7
williambanzai7's picture

Cal

Thu, 01/12/2012 - 16:28 | Link to Comment Cognitive Dissonance
Cognitive Dissonance's picture

Thank God 12-21-2012 is just around the corner. Something's gotta stop this crazy train to hell because it clearly won't be a popular revolt that does it. Here's a toast to all of us being toast just in time for Christmas. :>)

BTW has anyone thought about what the end of the (Mayan) world will do to Christmas sales this year? Anyone? Bueller? Bueller?

http://www.youtube.com/watch?v=f4zyjLyBp64

Thu, 01/12/2012 - 16:38 | Link to Comment bigdumbnugly
bigdumbnugly's picture

i would surmise sales of Christmas carol singing, head bobbling, hip swinging, fuzzy wuzzy Mayan dolls will do particularly well.  

past that, hard to say.

Thu, 01/12/2012 - 17:06 | Link to Comment kill switch
kill switch's picture

Thank God 12-21-2012 is just around the corner. Something's gotta stop this crazy train to hell because it clearly won't be a popular revolt that does it.

CD, Your a hot ticket !! :>)

Thu, 01/12/2012 - 17:50 | Link to Comment DaveyJones
Thu, 01/12/2012 - 21:29 | Link to Comment BigJim
BigJim's picture

He certainly looks like he died several centuries ago

Thu, 01/12/2012 - 22:20 | Link to Comment DaveyJones
DaveyJones's picture

he talks the same way too

Thu, 01/12/2012 - 22:35 | Link to Comment nmewn
nmewn's picture

He's workin on just the right chemical balance.

But he's been off his meds lately ;-)

Fri, 01/13/2012 - 00:43 | Link to Comment hidingfromhelis
hidingfromhelis's picture

I liked him better when he was on his "meds."  But then again, that's probably why he is the way he is now.

Thu, 01/12/2012 - 16:23 | Link to Comment inkarri9
inkarri9's picture

"The fact that we are here today to debate raising America’s debt limit is a sign of leadership failure. It is a sign that the U.S. Government can’t pay its own bills. It is a sign that we now depend on ongoing financial assistance from foreign countries to finance our Government’s reckless fiscal policies."

Obummer, 2006

Thu, 01/12/2012 - 16:26 | Link to Comment Jlmadyson
Jlmadyson's picture

It all comes back around.

The downgrades cometh.

Thu, 01/12/2012 - 16:23 | Link to Comment Caviar Emptor
Caviar Emptor's picture

He shoulda asked for $1.9 Trillion just to have a lil xtra left over :-) Worse case scenario? Keg party for 300,000,000

Thu, 01/12/2012 - 16:23 | Link to Comment Pancho Villa
Pancho Villa's picture

Buddy, can you spare 12 trillion dimes?

Thu, 01/12/2012 - 18:48 | Link to Comment Reprobate
Reprobate's picture

or 40 nickels for a bag of chips

Thu, 01/12/2012 - 16:24 | Link to Comment GeneMarchbanks
GeneMarchbanks's picture

Get rid of that ceiling 'merika. Breathe free for God sakes...

Thu, 01/12/2012 - 16:46 | Link to Comment bigdumbnugly
bigdumbnugly's picture

agreed.  why not take off that training bra and let em jounce!

Thu, 01/12/2012 - 16:54 | Link to Comment GeneMarchbanks
GeneMarchbanks's picture

Teenage tity analogy, really? OK +1

Thu, 01/12/2012 - 17:06 | Link to Comment bigdumbnugly
bigdumbnugly's picture

ahh.     mammories, mammories...

i meant memories, memories.  sorry.   how'd that happen?

Thu, 01/12/2012 - 16:25 | Link to Comment AlaricBalth
AlaricBalth's picture

China has stepped away from the table, having engourged themselves with US Treasuries. Now they realize they ate quite a bit to much of the nausient and are slowing spewing out what they can.

Thu, 01/12/2012 - 16:25 | Link to Comment Ocean22
Ocean22's picture

A republican president will be no different. How long can a system like this continue? 20 trillion? , 30 , 40 , 100???? When does it implode and the real grief start??????

Thu, 01/12/2012 - 16:27 | Link to Comment Sudden Debt
Sudden Debt's picture

How much weight can a Ant carry?

Thu, 01/12/2012 - 16:25 | Link to Comment Sudden Debt
Sudden Debt's picture

No problem sir!
Now, about that downpayment plan....
And are you willing to cut the deficit with 50 dollars in 2130?

Thu, 01/12/2012 - 16:26 | Link to Comment gettingready8
gettingready8's picture

who actually thinks this will end well?

 

No one can pay their bills but this is suppossed to be considered leadership?

 

Housing has bottomed?  Buy BAC!!!

 

I think ZH explained the Euro will pop up for sometime before going down again... correct?

Thu, 01/12/2012 - 16:29 | Link to Comment BlueStreet
BlueStreet's picture

It may not end well but it sure is going to be entertaining. 

Thu, 01/12/2012 - 16:29 | Link to Comment undercover brother
undercover brother's picture

it's bullish allright.  where's that BTFD you tube video when you need it?

Thu, 01/12/2012 - 16:31 | Link to Comment RobotTrader
RobotTrader's picture

Why not $2.5 Trillion?  Or $3.5 Trillion?

 

Our currency is assured of rising into Outer Space and Treasury Yields will surely plummet to 1.5% on this news.

Just like Japan.

Thu, 01/12/2012 - 16:53 | Link to Comment HarryM
HarryM's picture

Exactly , and no one is going to push the mutual self destruction button.

Thu, 01/12/2012 - 16:55 | Link to Comment GeneMarchbanks
GeneMarchbanks's picture

Until.... Jenkins. Leeroy... Jenkins.

Thu, 01/12/2012 - 16:41 | Link to Comment LouisDega
LouisDega's picture

Ooo, Lets see if Mister markie is up today. Yep, Hes up. Its all good. What else ya got?

Thu, 01/12/2012 - 16:56 | Link to Comment HarryM
HarryM's picture

Mister Markie's reverse gear is broken , only goes forward

Thu, 01/12/2012 - 16:31 | Link to Comment earleflorida
earleflorida's picture

"Obama's Business Cycle - Election Manipulation at the Cost of a Doomed *Nano-Second Crystal-Meth-High,... 2012-16 Economy?"

"Business Cycle" [dated material - mid-1990's,... but, oh so 2012?"]*Ockham's razor?

http://www.referenceforbusiness.com/encyclopedia/Bre-Cap/Business-Cycles...

thanks tyler

Thu, 01/12/2012 - 16:34 | Link to Comment kralizec
kralizec's picture

Dear President (cough) Obama,

Up Yours!

Sicnerely,

-Congress

(Well, it was a nice dream anyway...)

Thu, 01/12/2012 - 16:34 | Link to Comment gwar5
gwar5's picture

Wll, this is Washingon, DC, so we have to extract something good from Obama before we give it to him. What shall it be?

1. Michelle's butt measurements?

2. All pending FOIA requests get honored, no redactions, before he gets the money?

3. Make Big Sis get a TSA feel up by a man, then make her go through the scanner and post the pic on the internet so everybody can see if the lump is a penis.

4. BHO must submit another WH Budget to try to do better than the 5th grade caliber one he did last year before it was voted down 97-0 in the senate

 

 

Thu, 01/12/2012 - 16:48 | Link to Comment mr1963
mr1963's picture

Re Budget, it was not a formal vote. He asked congress to ignore it once he realized there was enough information in that budget to get him bounced from office. He's back on the hope and change bus, I heard bits of last nights speech at UIC. Nothing in writing, no votes, no record of anything, that's his ticket to re-election.

Thu, 01/12/2012 - 20:09 | Link to Comment gwar5
gwar5's picture

I think he let one of his daughters make up the WH budget up last year so he could buff ciggies in the Rose Garden. Also think last years WH OMB guy from CITI is now his chief of staff. The deputy OMB person is a clueless hot chick who had her mentally challenged certificate made official when grilled by congress. She now has very little time to outsource it to Malia again.

 

Thu, 01/12/2012 - 16:34 | Link to Comment PaperBear
PaperBear's picture

Watch this pass without the circus of the previous limit hike.

Thu, 01/12/2012 - 16:37 | Link to Comment YesWeKahn
YesWeKahn's picture

One might ask the following questions:

How does the president manage his own finance? If he does well, why doesn't he do the same thing for his country? If he doen't do well, why is he president?

Thu, 01/12/2012 - 16:37 | Link to Comment Caviar Emptor
Caviar Emptor's picture

Barry Obama as Let's Make A Deal's Monty Hall...: "And the total value of what's behind door #3 is 3 Trillion 200 Billion dollars!!'

-"Oh Barry! Barry!"  

Thu, 01/12/2012 - 16:38 | Link to Comment seek
seek's picture

Am I correct in thinking the interval between increases is shortening (ie the increases of a roughly fixed size are going exponential?)

Thu, 01/12/2012 - 16:38 | Link to Comment Gamma735
Gamma735's picture

When our leaders speak, look at what is not being said.  Freedom is a sate of mind not our choice of McDonalds or Burger King. Truly free people can be a powerful force.

Thu, 01/12/2012 - 16:38 | Link to Comment I Am Not a Copp...
I Am Not a Copper Top's picture

I was wondering why stocks turned around, given the commodity beat-down that happened today...

Thu, 01/12/2012 - 16:47 | Link to Comment FubarNation
FubarNation's picture

Mr. BHObama quick fucking around.  Enought of this nickel and dime shit every so often.

Just proclaim the ceiling does not exist anymore.  Unlimited funding - call Bernwanke and get the presses running warp speed!

 

Thu, 01/12/2012 - 16:40 | Link to Comment navy62802
navy62802's picture

Waiting for the gold bears to chime in.

Thu, 01/12/2012 - 17:07 | Link to Comment ebworthen
ebworthen's picture

Bullish for GOLD!

Just wait 'till next QE, FED to buy Fannie/Freddie dark pool mortgages.

The Bernank will have his "Ctrl + $" keystrokes going too.

Until all that stops and they raise rates, GOLD.

How's that?

Thu, 01/12/2012 - 16:40 | Link to Comment lolmao500
lolmao500's picture

And on January 24, they vote on SOPA to destroy the internet.

Thu, 01/12/2012 - 16:40 | Link to Comment Fix It Again Timmy
Fix It Again Timmy's picture

The $100 Million Dollar Penny - veeeery interesssstingggggggg:

http://www.youtube.com/watch?v=3dl1y-zBAFg

 

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