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The Official Calls For Change Roll In: "Fire Geithner"
The first official demand for a change at the top as a result of the S&P downgrade has come in, courtesy of Indiana State Treasurer Richard Mourdock, who has just demanded the head of the most incompetent and tax evading Treasury Secretary in US history, on a silver platter. "President Obama should fire U.S. Secretary of the Treasury Tim Geithner over the debt downgrade. If Obama won't remove him, then the US Senate should withdraw its consent of Geithner's appointment to U.S. Treasury because someone in the White House needs to be held responsible for this disaster." Zero Hedge fully endorses this perspective.
Full press release:
IN State Treasurer Richard Mourdock, US Senate Candidate running against 35 year incumbent Senator Dick Lugar in the 2012 Republican Primary, reacted to the historic news that Standard & Poor's (S&P) downgraded the United States' long-term debt, which highlights an overall concern about the financial health of our country.
"The downgrade by S&P of our debt from 'AAA' to' AA+' is a serious event that will impact all Americans. Financial markets will open Monday to see the United States with a credit rating of less than 'AAA' for the first time ever. How the markets will respond is impossible to predict.
"This downgrade is the direct result of raising the debt limit on Tuesday, August 2, without providing for substantive cuts in spending. The White House and many in Congress failed in their jobs by settling for a political compromise rather than seeking a fiscal resolution. They avoided the tough decisions on real cuts in spending by simple kicking 'the tin can of responsibility' further down the road. The downgrade reminds us that failing to act has consequences. Of no surprise to many Hoosiers, Dick Lugar was counted among the majority of Senators who agreed to the debt-ceiling compromise that was quickly signed by President Obama.
"President Obama should fire U.S. Secretary of the Treasury Tim Geithner over the debt downgrade. If Obama won't remove him, then the US Senate should withdraw its consent of Geithner's appointment to U.S. Treasury because someone in the White House needs to be held responsible for this disaster.
"S&P's downgrade illustrates its viewpoint of our entire economy, not just the government's ability to pay its bills. In mandating its downgrade, S&P, in effect, is stating that they have less confidence in the United States' economy to grow and recover in the long run. They believe the United States is losing the ability to create the wealth, which is the basis of the taxes the government needs to pay its bills.
"Perhaps there is a silver lining to this very dark cloud. The sound proposals offered in the Cut, Cap and Balance Plan can again be put on the table. This terrible situation might yet cause a Balanced Budget Amendment to be added to the United States Constitution.
"Moving forward, there will again be calls for 'bi-partisanship' to solve this latest fiasco. Let me be clear, we need less bi-partisanship and more conservative, fiscal principles in this on-going debate. Bi-partisanship has taken us to the brink of bankruptcy and now to our first ever financial downgrade.
"Conservatives have said for years that the federal government must be forced to live within its means. I take some consolation that S&P has now echoed our call."
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Funny how the Republican fails to mention the lack of revenues (tax increases) as one of the big reasons for the downgrade. as well as the Republicans refusal to negotiate in good faith on anything. instaed he's pushing the idiotic balanced budget amendment which S & P never mentions. Typical tea party fuktard. if anyone should resign it should be Beohner. he has no control over his own party and the tea party is responsible for this fiasco.
Go back to media matters asshat. This is grown-up space.
Leave.
Typical TP loonie... my way or the highway... I will hold my breath until you agree with me... grown-up indeed.
rotflmfao!
Warning: This is the Democrat talking point being circulated. I saw it in Barrons already today.
Everything needs to be cut 10% across the board. Fed govt jobs, fed govt pay, discretionary & entitlement spending plus all foreign debt and benefits to illegals end.
Warning: This is the Democrat talking point being circulated. I saw it in Barrons already today.
Everything needs to be cut 10% across the board. Fed govt jobs, fed govt pay, discretionary & entitlement spending plus all foreign debt and benefits to illegals end.
Go read the S&P requirements on revenue again, Libtard. They want the 50% takers taxed. No more freeloading!
Fuck you, Toby!
Mourdock can eat his peas
Break it again, TIMMMMMMMAY!!!!!!!
http://www.youtube.com/watch?v=TWrlECOSrHE
Fire him and do what then?............bring in another shill from wall street to steal even more taxpayer money?............firing timmy will solve nothing..........we need to start putting bankers in jail............gitmo.......NOW
This would devastate the comedy industry....
in the on deck circle , from Goldman Sux, Jon Corslime
What I am getting from the reaction of this downgrade is that most people didn't think a US based company had the balls to do what they did. Anyone who thinks S&P downgraded US debt because it deserved a downgrade is fooling himself. The puppetmasters are in control and are working a plan. For me this is deja vu all over again. Looks to be Operation Jimmy Carter II. They make quick work of those who do not fall in line.
does Corzine still want the job post-downgrade?
Let's forget Geithner! Fire Emperor Obama!
Meanwhile, back at the shopping mall (where I went for lunch), life continues as though nothing has happened, which leads me to ask: "Has anything really happened?"
Dollars are still changing hands. Commerce has not ground to a halt. People are even . . . ON VACATION.
Until officials start getting shot and people see how oppressed they are, most will walk quietly to to the slaughter. But then . . . will grocery stores, Wal-Mart, any other sales outlet just flat out refuse to accept dollars? Seems unthinkable.
It might be a great idea to put together and publish a list of people whose absence would make the world a better place (and why). The laws of nature demand it.
This is getting more and more like a Hemingway novel. The bull (the economy) is slowly and artfully being killed by the matador (nature demanding it's payment) at this point. Will the tyrants really have to pay though, or will they just sail away on their yachts?
It's like a giant creature...it takes a long time for the pain to actually reach the brain stem. But seriously...main street already is where Wall street isn't yet. If you have nothing in the markets are you really effected? Not yet....trickle down wealth did really work...will trickle down pain? ver 50% live pay check to pay check.
The question isn't whether or not Wal-mart will accept paper money dollars, but whether or not you will be able to shop with a wheelbarrow full of useless paper money IOU's.
The sheeple won't know what hit them because they will be hit in mid bleat while prancing across the poppy field.
This guy is a nobody and a retard to boot.
pretty weird giving a fuktard of this magnitude the zeroHedge ["Zero Hedge fully endorses this perspective"] seal of approval.
tyler may be drinking more heavily than we expected!
i guess td picked the wrong week to quit sniffing glue. [/lulz]
I think Tyler jumped the Shark Week on this one.
But, what do I know, I'm just a click-bait-tard.
Fire Geithner?
FIRE OBAMA
...fire in the hole http://www.youtube.com/watch?v=5Mn-Bs8tn9k
Fire in the hole_ Bob +10! Yen
I dislike giethner with a passion beyond words, and if ciongress, the senate, and the white house actually cared about america he would have been gonen long ago. along with bernanke, et al. the real issue is we live in a kleptocracy and thiose in congress are part of it.
The main reason this has happened is because a phoney ideology has gotten a hold of policty and has in effect been doing the wrong thing for thirty years. tyhose in the system are beholden to it and will destroy wsociety to preserve it (they will make out just fine thank you
Fire Geithner ? No way. Obama will be branded as anti-semite for firing a Jew.
although he surely acts like one by doing their dirty work, he is not a Jew
who is not a Jew ? Obama or Geithner ?
why? There are still plenty more working for him
Geithner is not only NOT Jewish, he has stated that he is also not religious, either. He has stated that they had to pracitcally drag him to a Church just to get married. That Church was a protestant Christian Church.
Hey, where's Robo with his "Uncle Gorilla" crap . . .looking more like Uncle Bonobo on his way to Uncle Capuchin by the day.
By Walter Brandimarte and Melanie Lee | Reuters – 3 hrs ago http://www.reuters.com/article/2011/08/06/us-eurozone-idUSTRE7712HB20110... Oh my. However, they have cried "wolf!" so many times before. Besides, Krugman has said over and over, "China has no othe rplace to go." They supported the Ponzi System for the last 5 years now they might suffer the results along with everybody else. Action = ReactionFunny, I haven't heard anyone mention how the downgrade(s) of 'MeriKa's credit rating will effect Municipal borrowing/credit ratings!
I think that by 2011 Q4 Meredith Whitney shall be more than vindicated, and the eco-terrorists for hire, like Krudman and the Bernank et al., will be seen for the traitors they are...
Continuation of cake for the unwashed masses and trillions for the Ivy League tribe?
Obama has no authority to fire Timmay, as he is the Governor of the IMF (Independent Treasury Act of 1921) and recieves no renumeration from the Dept. of Treasury. The Dept. of Treasury is itself a corporate subsiduary of the IMF/Federal Reserve.
Obama, Congress, et. al. all are employees of the IMF/Federal Reserve Corporations
Ooh!
Herman Cain coming up on Fox
"more heads have to go, not just Geithner"
Fire in the proverbial frickin' hole... (and with all due respect to esteemed ZHers...) bitchez. ;)
"Fire Geithner" F*ck that, He should stay forever. Tea party Morons responsible for not lifting US DEBT limit in timely manner. Tim Geithner doing terrific job. Smart and sophisticated man. If Italy debt matter resolved near term, reaction to S&P downgrade will be NULL, Nothing, ZERO. Will be buying on deeps. Those who going to buy puts at open, consider overpaying for them 100% while IV is at highest level. Just an advise: You wanna sell options at it highest level and not buy them, those who going to short Morning, will be caught with their pants down, including ZH team leaders. Don't fight the FED, punks!!! :)))) Right just beat the dead horse to dead and buy Gold at all time high, ones pressure released, find your self in the hole.. Buy Low, sell high.
I'm afraid you are in for a rude awakening ...
Almost had me going. Then I realized you had a typo.
You forgot to write "</sarcasm>"
did he say “abolish the fed”?
did he say “impeach obama”?
did he say “fire congress”?
no, he said “fire geithner”. While there are many reasons to hate turbo timmy (the tbtf cocksucker) a farce downgrade by the unethical s&p isn’t one of them. this joker just wants a scapegoat to vent his feigned outrage upon. f$ck him.
+ 1000
Hear-Hear buzzsaw!!
ABOLISH THE FED!!!
IMPEACH OBAMA!!!
FIRE CONGRESS!!!
He said " Fire Department" BUZZ! You got it right!
seal team 6 gone!!! this smells. i read somewhere on the net they wouldnt make it back. the evidence is being destroyed as this goes down
why would they ever put 25 of them on one vehicle........
This smells like yesteryears eggs, never in history have so many SEALs die in 1 incident it's usualy not more than a few but to have a whole team wiped out and just after they 'killed' Bin Ladin
Extreemly hard to believe this story, I bet they where taken out with a Stinger or something way more sophisticated than an Unguided RPG
SEALs standard operating procedure is to operate in teams of 4-6 man how come there where 20+ of them on 1 helicopter in a Fire Zone? Makes no sense
Maybe they where 'punished' for leaking the details of the Bin Ladin operation and making the WH/President look stupid ? (http://www.navytimes.com/news/2011/05/ap-raiders-knew-mission-a-one-shot...)
Two words: Manchurian President. They were sold out. Dead men don't talk.
It also sends a message to any Republican or military officer who gets out of line too. I can get to SEALs, I can get people attacked at the WI State Fair - I can get to you.
Two words: Manchurian President. They were sold out. Dead men don't talk.
Also two words: cannon fodder
By "Fire Geithner" I hope that it is meant in the Salem, MA sense.
Change you can believe in?(sarc on)...fire timmay and get some other fucktard bankster puppet in there, right?! (dimon, blankfein, et al.)
Seal Team Six Dead? Well they were the only eyewitnesses to discredit debt brotha's Osama story...and who knows what other things they had knowledge of due to their specialties and security clearance level...
Only thing missing is the controlled demo of BAC to really get the masses panicking this weekend before ur masters come forward with their plan to "save the world", right? (printing to infinity to save the system/unheard of fiscal stimulus to help bury the corpse)
Conference call for G20 and an ECB emergency meeting? Just getting their story straight for when they have to talk publicly to their media lapdogs and relay their 'rescue' plan to the sheep that are about to be sheared both in 'merika and Germany
Unfuckin' believeable if you still believe all this is not a coordinated end game then you really are blind and deserve the fleecing you are about to get. The American and German people are about to get fucked, the Japanese have already been taken out via eartquake/radiation, TPTB hand us all a new paradigm Bitchez!
(prepare accordingly)
Firing the little lying shit would be scapegoating defined, but it would make an awesome SNL skit. Picture a disgruntled Timmah potrayed by Jimmy Fallon packing up his stuff from his office, like autographed photos of Lloyd and such.
Let him go back to paying his taxes ......if he can get a job anywhere besides Goldman.
How about blaming the people who have approved the federal budgets for the past several decades? How can anyone in his or her right mind lay this blame on Tim Geithner? I'm sure he bears some of the responsibility for the disaster, but the burden of guilt largely falls on the shoulder of Congress who approves a fucked up budget every year. And then they turn around and vote not to fund the very budget they've already approved? This is like the school yard bully punching someone in the face and then blaming the kid next to him.
+ 1000 for both "Navy" and "Old."
Congress has not approved a budget in over two years, so that kind of shoots down your rant and puts Geithner's head back on the table.
Zerohedge just got a zero. Not because of Mr. G. but that it has little to do with the problem. Replace G and little will change. This basic lack of knowledge is a diversion, for whatever reason I do not know, unless there is Koch money or something else behind rather than a possible solution.
Barama silent on S&P,
WhiteHouse crickets
The big 'weekly' radio teleprompter reading and the Barack Barry Hussein Soetoro Obama what's his name fail to mention historical US downgrade.
too funny...if not so serious
Cause it doesn't matter. Bluff about S&P downgrade was here for few weeks now. If they really think that it would do huge impact, they'll work on the budged to satisfy those clowns. This downgrade has only physiological effect on mentally unstable people, any supporters for fee "Zoloft" and "Prozac" pills for ZH community are very welcome. Stop whining and look at the facts, - US treasuries still SAFEST ASSET CLASS on the Planet Earth. And it really deserves AAAA. Now you can chew your pill. Watch US NOTES yields fall even lower. f*ck S&P.
Most credible people call him Mr President, or Mr Obama, or even Barack Obama. But I suppose you are a groupthink zealot preaching to the choirboys.
He has never been my president and I refuse to confer that legitimacy on him. My prefered way to refer to Barry Hussain Sotero is "King Hussain".
Ditto, GS. But I'm so bad, I will only fly a 49 star flag. No statehood for Hawaii, no One possible!
Birtherism such a sound economic argument.
It's Barack INSANE Obama, or just "His Majesty" to you!
Alas, Timmay, we knew thee too well.
Yes someone in the White House !! Look over there !! Don't look at Congress.
dupie doo doo
Archduke Ferdinand....Assassination....World War 1....
http://seenoevilspeaknoevilhearnoevil.blogspot.com/2011/01/archduke-ferd...
Eight Reasons Young Americans Don't Fight Back: How the US Crushed Youth Resistance
""The ruling elite has created social institutions that have subdued young Americans and broken their spirit of resistance.
Traditionally, young people have energized democratic movements. So it is a major coup for the ruling elite to have created societal institutions that have subdued young Americans and broken their spirit of resistance to domination....""
http://seenoevilspeaknoevilhearnoevil.blogspot.com/2011/08/8-reasons-you...
OT: 2 min video...hilarious
Wrong Side Up...
http://www.youtube.com/watch?v=W0Uju3tYS2s
end the DEA
revert the gestapo (homeland insecurity) to the system we had before
put import duties on American corporations that moved facilities out of the country at least enough to cover the difference in wages and environment protection costs
end all foreign aid especially military aid to dictators to say nothing about the top terrorist state in the middle east
start closing the 700+ bases all over the world
then we could start fixing what is wrong with this country
also a few charges of treason for the congress critters that destroyed the regulatory system that was in place to prevent this mess from happening
Can we stop financing the UN too???
Where are Phil Gramm and Wendy these dsya anyways?
UBS.
doube post
Bring back the Maestro, Sir Alan Greenspan and let the good times roll for a few more years. I am 10 years away from retirement.
What about every President since Kennedy?
Does any of them realizes this downgrade didn't come overnight?
Is there any of those who call for a hanging that accidentilly also voted for the debt ceiling raise?
Why not fire all of them?
Turning the tables maybe crybaby Boehner needs to be fired. He's more responsible for entertaining this bunch of austerity idiots.
Sorry, Bush isn't in office anymore. Debby Wasserman Shultz - "We own this economy". Fire all of them is a good idea - like an earlier poster suggested - in the Salem Massachusetts sense...
Experts: Fukushima 'off-scale' lethal radiation level infers hundreds of millions dying.
""Fukushima nuclear power plant radiation recordings of external gamma radiation have been so high this week, they went off scale said veteran nuclear expert Arnie Gunderson on Thursday after the famous physicist, Dr. Chris Busby told the Japanese people this week that radioactive air contamination there now is 300 times that of Chernobyl and 1000 times the atomic bomb peak in 1963, possibly inferring that hundreds of millions of people are now dying from Fukushima radiation, including people in the United States....""
http://seenoevilspeaknoevilhearnoevil.blogspot.com/2011/08/experts-fukus...
OT: 2 minute video...Party Like Its 1999 folks...
http://www.youtube.com/watch?v=W0Uju3tYS2s
What about... ``Put Geithner in the fire``?
That or string him up... whatever.
Look at the condition he left the Mexican Economy in - why did anyone expect anything else from him when he was put in charge at the US? Economic rape. That's his job, that's what he does...
It's really funny how the White House, Congress, the media, and now the states are looking for someone to blame for the downgrade. I'm no fan of Jeethner or S&P, but they are being made scapegoats.
S&P in particular has been extremely patient (read:gutless) in keeping the US at AAA as long as it has. Clearly, the US should have been downgraded at least a year ago and arguably several years before that, but certainly since QE2.
But now, politicians are looking for a scapegoat to cover for their own incompetence and corruption. Jeethner should be part of that of course, but this is not his fault. At least not solely his fault.
What's funny is the shock -- shock! -- in the media that this has occurred and how even Neil Cavuto (who does a great job normally) was questioning the patriotism of S&P (as if that should ever be a factor).
Yes, the pot calling the kettle black. Indians's supreme court recently held that the fourth amendment to the constitution is not applicable to their state. Oh yes, good old Indiana. I double dog dare the tyrannical Indiana Supreme Court to read the Bill of Rights!
Tuco Benedicto Pacifico Juan Maria Ramirez
Fire Geithner so all the Obama haters can have a relief rally. Solves nothing.
Your absolutely right, solves nothing...debt brotha will still be the head puppet in charge.
Looking for scapegoats, when each and every politician in Washington needs to hang for high treason.
Classy...
Fire/Hire? I need some Fletch/ Caddie Shack VIA NFLX!
.
Geithner cheated on his taxes and presided over the biggest spending in the history of the world, and the biggest deficits in the world, against our country's better interests. Of course he should go. He should have gone a long time ago, when the rest of Obama's team left in failure and disgrace.
Keeping Geithner was the surest sign Obama was an ideologue who wouldn't change his massive socialist redistribution thru debasement of the currency. determined to punish savers. Clinton would have at least realized he was failing and changed tack. Obama is trying to destroy us on purpose.
Not only did he cheat on his taxes, he now is running the IRS (it is part of the Treasury), talk about inmates running the prison Bitchez!
Let Timmah go. He is just a puppet. We all need to focus on timmah bosses. They will be weeded out. In fact, don't be surprised to see them on CNBS this week. LOL.
What difference does it make, the US Treasury is run by the private owners of the worlds biggest corporation >105TRILLION market cap, called THE FEDERAL RESERVE CORPORATION. If tiny tim is replaced,it will only be by a bigger liar who will say one thing in public, then do what is good for their puppetmaster period. Until the crimes of our captured government are named, and people are brought to justice for treason for putting our country at risk, no seat change will make any difference beyond a new deceiver for our eyes and ears.
I get the feeling that this all must be George Bush's fault.
Paul Volcker ------------->
Alan Greenspan ----->
Tiny Tim Geithner -> all hood, no shaft!
OT: Sacrelige: Anomalies.
Tryin' to figure out how the new comments can exceed the "new comments". As a notorious "off-by-one" array perpetrator, I suspect foul code.
And, well. where is the band of links to previous threads that used to show up on the bottom of the home page. Twere there, then negatory, then there, then negatory.
Good luck and, well, I envy your job NOT. :-)
- Ned
{and if it were possible to get the strike-through to pass from what I see as I format a comment to the actual post, why, come to Boston and I'll buy you a SAM!}
If they want the culprits, I submit Bush/Cheney then work on down the chain.
Geithner is just one head of this Hydra, of course. Cutting off this head doesn't represent any kind of change, of course. His job at the moment is to attract fire and take as much of it down with him as possible. Maybe American voters will even be angry enough to deliver a landslide victory to the republicans at the next election, for more status quo you can believe in. lol!
speaking of tax evasion and downgrades.
Evil Corporate Tax Holiday Deal Still Alive
By Matt Taibbi
August 4, 9:29 AM ET
http://jessescrossroadscafe.blogspot.com/2011/08/here-comes-freedom-to-i...
T. Geithner is here to stay. Man deserves some respect. I know you creeps doesn't care.. Your hero is Ron Paul, some farmer boy with IQ of 40, little over than your
buddy Bush Jr.
There is much smarter people out there, then couple of Rednecks on ZH board. Go back under your rock, buy guns, water and canned BBQ beans.. S&P 1400 by December. Watch and learn.
I literally have 400 cans of spam in my tornado shelter among other things. Of course everytime im outside trashed really late I end up in there eating a can. I probably need to restock.
1400? sorry dooshbag but the highs for the market have been put in for our lifetimes. I'm gonna short your stupid ass all the way back to GS headquarters.
Go ahead and short, punk, if you not cover by 11 AM
you are toast.. Markets will go much higher as money
supply rise (gold/silver should follow)
Buy puts in the morning, pay twice for what they are
worth and then get your principal invested cut in half ones Volatility settles down, even if Equity you buy
puts on stays at same level. F*U too, by the way..
11am when? sunday? What money supply? Oh you mean QE3? BTW I just trade...........I sold a boatload of JNPR calls yesterday am.
I just call things how I see them........we're screwed and you're an idiot.
What's it like being 34 years old and still putting your teeth under the pillow?
This will even earn me disrespect from fellow ZH's..........but don't look now there's a huge red bar on top the GLD chart.
They really are very smart.
That's why I know they are corrupt.
.
Ron Paul is a physician, not a farm boy.
But, Geithner is gay retard who was molested by a socialist as a child with a roll of quarters. And he still has that roll of quarters, and when he's not using on his 12 year old nephew, he palms it in his left hand and holds it to his nostrils for good luck when he makes financial decisions. Geithner periodically lets Obama sniff his roll.
MoneyWise is a two-bit butt plug and a Giethner tool.
"There is much smarter people out there, then couple of Rednecks on ZH board"- unfortunately, your not one of them, pal!
S&P 1400 by December.....BWAHAHAHAHAHAHAHA!!!
http://www.youtube.com/watch?v=2sBmUszhP_Q
I knew we were fucked as soon as I first seen Geithner timboy. Have you ever taken a long hard look at that guy?? Only thing missing is the word "retard" stamped across that big forehead of his.
Timothy Geithner, Tim McVeigh and Tiny Tim.
After a while you just have to wonder if anyone named Tim is doomed to be evil.
Damn this beers good. Fuckers are probly gona start taxin the shit out of it. Glad I got a shitload of fruittrees. Fuck you bastards ill my own.
Prohitbition!!! We don't need a bunch of drunk pissed off people with guns!!!! Too late.
.
Obama would rather collapse the American capitalist system alongside the EU socialist system rather than let socialism be exposed again for the lie that it is.
"Marxism never sleeps.... so neither shall I." -- unknown Soviet gulag inmate.
He's a little late. Socialism is looking a bit threadbare right about now.
Remember Christina Romer from Team Obama? Last night, she gave Bill Maher her thoughts on the S&P downgrade and the future of Amerika. Check out this 10 second vid:
http://www.huffingtonpost.com/2011/08/06/christina-romer-downgrade-standard-and-poors-bill-maher_n_920152.html
I know i am a disident here as I am everywhere else i go. obviously no one is more against the policies that have clearly failed our nation than me--and i am in no way saying the State of Indiana telling the Federal Government to jump in a lake as some small deal. I still think "the devil you know" has advanatages as we all know Secretary Geithner is a government guy and I think wants those Social Security checks to keep flowing...as do I i might add. I'm unclear who his replacement would be at this point....let alone "what." obviously it won't be anyone from New York City. Probably ever again I might add. The American people have long memories of who their freedom phuckers are--and clearly at this point they would rather all of them die/be exterminated/suffer greatly in the process right now. Sounds like a tough job for the replacement. Anyone here volunteering?
ZH predicted Corzine. He's from Jersey. You from Jersey?
my favorite quote du jour from WSJ:
" Standard & Poor's first-ever downgrade of U.S. Treasury debt could lead to some market tumult next week, investors and analysts said Saturday. Over time, though, the downgrade might do little more than mark a moment in the decline of U.S. economic strength, they said.
There may be an "adverse market reaction," said Paul Dales, senior U.S. economist at research firm Capital Economics. But it "won't be long before the markets focus once again on the economic fundamentals," which he described as "not great." "
Note that Dales states there may be "adverse" market reaction until the focus once again is on "not great" fundamentals. He makes it appear as if there will be a correction from horrible to not so great. Anyone catch the logic glitch there?
I also use this website for added analysis and commentary:
http://www.collapsenet.com/154.html
Big deal. It's not like they can't tap Goldman for another treasury secretary. Goldman's got plenty of people.
Timmy can rent space from Biden until he gets a new job offer. Maybe he can replace Lagarde at IMF.
They will soon rename the country to "The United States of Detroit."
... or another iteration: The United States of DEBT!
Sell it to Apple. Give the FSA more stuff
my apologies if this has already been posted but it's great... hank timmay and ben shalom as the freecreditscore guys:
http://dailybail.com/home/print-money-thats-how-im-gonna-fix-the-economy.html
The president endorsed a $4 trillion "grand bargain" of tax increases, spending cuts, and entitlement reform. S&P stated that passage of this deal would preserve the AAA rating. It appeared Obama and House speaker John Boehner were working towards this deal, before Boehner walked away, due to the tax increase. There is a majority in the House who simply wont support tax increases, who wouldnt support their own speaker's plan which was purely spending cuts, even if it meant defaulting on the debt. And that's the reason we are here. As someone noted, S&P downgraded our political system, more than our debt.
Forget Geithner! Fire Emperor OBAMA!
The real culprits are the 1999 Senate (and repeal of Glass-Steagall), Alan Greenspan, Ben Bernanke, George Bush, Bill Clinton, Robert Rubin, Hank Paulson, Larry Summers, and the demento economists that believe that we can borrow our way out of debt ... oh, and Obama too
It's lonely to be a voice of reason on ZH.
Fire the no-good son-of-a-bitch.
imploding.
To quote eBay, "AA+ WOULD LOAN TO/BORROW FROM AGAIN!!!!!!!"
Concentrating on one person as a scapegoat in this case is like killing one cockroach and expecting the infestation to disappear.
Every single one of you has it wrong. I'd say KEEP Geithner ! Better yet, start grooming him for a Democratic challenge from within. Then, with the help of the same Bankster overlords that got Obama elected, we'll have President Turbo Tax !
Then the real fun begins. President Turbo through his combine socialist/fascist/banksta agenda will drive the U.S. to untold depths of destitution. Of course. this will destroy the greatest nation ever to be devised by man. Of course this will destroy what little is left of true capitalism. Of course this will bring down an iron curtain of chaos and social strife with the attending bloodshed, not to mention the jack-booted martial response.
But....hey....you can't remake a nation into your own image without breaking a few eggs eh.?
Besides, every Banksta knows that the time to buy is when there is blood in the streets. The cost of everything is too high. So....get someone in charge like Timmy Turbo Tax who has a history of lying, cheating and driving a nation into the dirt. Then when everything is broken....buy that shit up likes it's worthless trinkets on ebay.
Buy low...sell high. And in the meantime...while your at it Timmy....let's do away with that thing called freedom.....that puts an unnecessary cost on everything.
Yours truly,
Lloyd Blankfein
does the worthless trinkets on ebay part have something to do with "selling trinkets on eGay"?? I like Mish too.
Howdy, rsnoble.
Not sure about the I like Mish part. Did I parrot something he said? It would be quite the coincidence. I stopped reading his worthless drivel a while back.
Don't get me wrong. I whole heartedly believe in libertarianism. The problem I have with Mish's cultic belief in it...and trust me, Mish and Ron Paul and Neil Boortz believe in Libertarianism as their primary religion no matter what they may claim to another if they ever have...is that like most cultic beliefs it cannot withstand the reality of the totality of human corruption. Every utopian idea...including and in particular libertarianism...starts great on paper. But ultimately fails when put into practice over time by the practicioners.
Libertarianism is particularly vunerable because once given free reign over most things, human beings will inevitably abuse said freedom and the first casualty of that abuse is the very freedom so worshiped by the libertarian.
And then we get into this eternal battle between the forces of liberty and the forces of the collective and the state. When businesses had hardly any regulations over the quality of work force practices, food safety, work age laws, pollution standards, etc. ... the population turned to the forces of the collective in outrage over 6 year olds working in slave like camps, eating more than their RDA allowance of rat shit and pubic hairs in their hot dogs, or dying en masse in certain Penn. towns from the combined pollution of the coal fired plants and the steel mills, not to mention what was going into the water supply.
However, as unions and labor laws written by the politicians who supported them and got support in return came about, the same human corruption that abused liberty and the non regulated business environment in turn found arguably a better home in the collective mind-set.
And round and around we go. I call bullshit on both sides. My freedoms have been taken away by the liberal/collective/union/socialist cabal. But they have equally been taken away by the republican/libertarian/banker/financier/capitalist cabal as well.
Besides....all these bastards in office....on the left and the right were not put there by some alien invasion or some military coup. You put them there and even if you did not in some particular case, you have no power to get rid of them. So fuck you on the one hand and sorry...you're fucking powerless on the other.
After all.....the goverment we have has always been and until it is dissolved into something else....is a representative goverment. They are us.
Look into the mirror and weep for what you have created and what you perpetuate. Oh...and to you libertarians who still cling to the quaint and mistaken notion that all we need is more liberty. We had that long ago. We still do. The results of what we have done and what we do with it to this very day are on display.
To you libertarians who say "All we need is Liberty" and to the liberals who say "All we need is Love"....I say fuck you both. Look in the mirror and see how corrupt both of your sides are as we all are. Maybe then there will be a truer pursuit of the real challenge...that being the challenge of our souls.
But I wouldn't count on it.
what the heck does geithner have to do with the us down grade?
as compared to the other players
how about keeping it real tyler?
the real enemy in this one is boner. they had them on the ropes, they incredidibly worked up a decent plan in the CC&B and he cut a deal with obama that cut the legs out from under the fiscally responsible wing
boner is public enemy number one
this old retard is useless
Because all of our problems started with Obama, and we need a scapegoat, quick.
The idiot TP group have exposed themselves for what they are... incompetent boobs. Cantor is on record pushing a plan (the first day on the job) to use the debt ceiling to hold the country ransom… these guys are pathetic and letting them continue insults the thousands of competent and dedicated lawmakers that came before them.
Like Walker in Wisconsin (etc), they have demonstrated their inability to govern and should resign in shame.
In the Bible there is reference of Jesus throwing the "moneychangers" out of the Temple. For anyone who doesn't understand, please nevermind. For the rest of you, it is more than evident that this is the same sect which infests our media, our financial institutions, and the Whitehouse. Now..... Obama is whatever religious belief he 'needs' to be when he gets up in the morning, but the rest of his minyans (not mis-spelled) have an unsettling commonality hard to ignore. We have a problem!! The problem is that the ignorant electorate WILL elect a DESPOT if times get bad enough. They will do it for "real change"!! We don't need that. Obama is bad enough! We need to clean out everyone in the WH. We need to get Obama out and never forget what THOSE who would vote for an inexperienced, venile, jive-talking, popstar may further damage this country at the ballot box....
If I may interrupt your racist (“jive talking”... you dolts don't even try to hide it any more) rant... it is the TP that is funded by, and is supporting the "money changers" at any cost, including loss of the "good faith and credit of the United States."
Clearly the underfunding of public education has spawned a class of intellectually challenged dolts that the TP controllers have taken full advantage of... welcome to the ranks of the "useful idiot!"
OOOOOOH!...........The "racist" thing comes out every time a liberal is agitated. Another liberal "belief' is that the education system is "underfunded". That's rich....no pun intended. The liberals have engendered 50 years of no-responsibility no-fatherhood, no-family, government dependent "dolts' and somehow it is 'underfunding" that is too blame. Count the heads in the WH and do yer own goooogle and see what it looks like to you......
OOOOOOH!...........The "racist" thing comes out every time a liberal is agitated. Another liberal "belief' is that the education system is "underfunded". That's rich....no pun intended. The liberals have engendered 50 years of no-responsibility no-fatherhood, no-family, government dependent "dolts' and somehow it is 'underfunding" that is too blame. Count the heads in the WH and do yer own goooogle and see what it looks like to you......
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