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Senate Passes Debt Ceiling Vote With 60 Senators Voting In Favor
Did we say debt ceiling? We meant debt target. The important thing is that the soap opera is over! Market reaction? None. And now back to your regularly scheduled economic collapse, only this time with 120% debt/GDP.
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Inflation Nation
Hyper-inflation (fiat)
Hyper-nation (SSRIs)
How about rampant sucktification?
SSRIs as in Prozac?
Shouldn't that be "Hibernation"?
traditional transitory nation, with inflation.
It was a drop ceiling, the real ceiling is just a little bit above the last one.
Gold and Silver both should be soaring now.....
They are allowing Gold to rise steadily but Silver's got them nervous they are capping it around $40. Can't let the white metal print a 40% ytd gain in the summer months!
I'm re-upping my DEC silver calls as we speak...
Woo hoo, the super congress is here. America has just entered the enabling act era.
Don't cut for fraudulent debt
Don't print for fraudulent debt
Don't tax for fraudulent debt
CANCEL THE FRAUDULENT DEBT with Glass-Steagall
Instead we have a super congress above and beyond everyone who will only CUT in order TO PAY OFF FRAUD.
Each and every one of those who voted for this, is a traitor.
They won't cut..they will rearrange so it looks like cuts.
I cut $28k from my budget this year by not buying a new 2011 Mustang.
That's $28k in income. Be sure to pay taxes on that.
Isn't Super CONgress in German "Reichstag"? Or maybe "NSDAP"?
In Russian, is it "Politburo"?
Just wondering.
Americanski Politícheskoe Byuró.
APB. Its an All Points Bulletin, all right. Problem is the sheeple won't get it.
Politburo
Ding, ding, ding. Game over Amerika.
"So this is how democracy dies, to thunderous applause?!" -- Senator Amidala
I can’t stand the sound of the crooks, shills and lackeys that comprise the vast majority of this putrefied government.
One of the most galling comments revolves around compromise as voiced by the Socialist- in-Chief when he lauded his enablers by claiming they “put politics aside”.
The only time they will put politics aside is after our decrepit system crumbles to ruin and they are collectively running to save their skins from the angry victims of their corruption and malfeasance.
As a member of the non-super congress, how will a poor rank-and-file congresslooter convince the (payola brigade to line their pockets) constituents to contribute to their reelection?
Also, there is no way these super congress people are going to actually vote for some real painful austerity measures, there will no doubt be a blue-ribbon panel appointed.
That won't be their main focus. Think 1st, 2nd, 4th, 9th, 10th, and 14th ammendments. See ya Mr. Constitution. Those rumors of your demise have now been confirmed.
After been disgusted by the bullshit in DC (I refuse to connect the name of a stand up President with a bunch of little girls that all they know is how to play dolls) and the charade that made many people vomit in their mouth, the debt deal has passed. No matter if that means more alcohol to the already alcohol poisoned patient (who is already dead, but who cares), we got a deal and everyone is happy.
Happy till next time we have to talk about this again…And the world is slowly coming to their senses and realizing that the green paper with dead presidents that denotes ‘Federal Reserve Note’ is becoming worthless & worthless by the minute. The Koreans (Central Bank) just woke up and smelled the roses more than doubling their gold reserves, as they hadn’t done any purchase in the last 13 years…as they just loved the dollar too much. Russia is already accumulating gold as is China and other central banks. They know the game is towards the end and the loser will be the last one holding US dollars. As for right now everyone is playing ‘hot potato’ getting in & out of the US treasuries for a quick buck.
When the game & music ends (which won’t be for much longer at this pace) the one holding the ‘hot potato’ will realize all along it has been playing with ‘hot, steamy shit’ and there never was any potato. Because so many ‘hot potatoes’ are currently circulating in the global markets due to the enormous amount of treasuries available there will be many people holding ‘hot, steamy shit’ at the very end….and I suspect these will be the ones who are investing for others (anyways) like pension funds and others that need to keep AAA paper (eventhough fake AAA). Sorry to, as always, the little guy that is in the process of getting screwed…again
I'm really sorry. The following post didn't translate in columns. This is the breakdown of 2008 Rep and Dem Presidential Campaign Contributions.
Again, I'm really sorry the format looks like this. It didn't in the Paste. I wish were a better computer guru. Really sorry to waste the space like this. Cara :o
I give up. It's a good list, but I can't figure out the formatting.
A big adeiu about nothing!
Two words:
Priced in.
STOP YOUR GRINNIN AND DROP YOUR LINEN.
BFD.
By the way, how did the Tea Partiers vote in the House?
Same way they did in Boston circa 1773
When the collapse occurs, I'm going to miss air conditioning.
Darned right, and York Peppermint Patties.
Underground bunker, FTW.
I've also got a few caves that stay cool, assuming the bobcats don't mind.
You could move to Canada. I know I'm thinking about it now.
great idea with the winter comming up in a few months...
Our socialized government-subsidized standard of living is about to come crashing down here. Lots of oldies, not enough young people working to pay for the bills.
Our only saving grace is that our country's economy is based on oil, natural gas, gold, silver, uranium, REE's and a bunch of other resources that are going to the moon.
Plus we have tons of fertile farmland, plenty of fresh water, and lots of timber.
Canada's gonna get messy, but I think we'll pull through.
What's the urban to rural ratio there? I would assume far more people live in rural areas, unlike in America, and that is going to be a major source of pain for many people here in a collapse.
and pay taxes to two countries, nah
Life without electricity is going to suck, no mistake about that, Marv.
Thank god for air conditioning.
"Who comforts us in all our troubles, so that we can comfort those in any trouble with the comfort we ourselves have received from God". Air conditioning.
Corinthians 1:4
http://lds.org
"No pleasure, no rapture, no exquisite sin greater than central air." - Azrael, "Dogma"
No A/C, no peace.
what a complete and total charade!
guess the T-party is just as big government as the democrats... T-party was going to save America but instead
.
they saved the world bitchez
Maybe it was supposed to be P-party. I mean some tea looks like piss, and some teas taste like piss, and these P-party folks vote for piss. Hmmmmmm?
T Partee, Traitor partee, in the end theyre all just politicians who cant say no to a couple million dollar payoff.
When the Gadsden flags began to be replaced with more and more federal flags, all the real patriots knew it was time to part ways. The so-called Tea Party was co-opted and taken over long ago. It's a complete joke now.
as mentioned yesterday i wasn't sure the market would react positively to the ceiling vote. at this point who do the bag holders sell to except those willing to step up at prices lower than here? like i said, glad to hold the real mccoy.
Just check out that market celebration. It's on fire! Oh sorry that's gold I'm looking at.
...."a tale told by an idiot, full of sound and fury, SIGNIFYING NOTHING"....
Fore gone conclusion. Washington=Wall Street. Wall Street=Washington.
An absolute farce. Like watching a pack of 'Jackels' fight over dry bones.
The country has NO moral, nor honest center. Leaders? Where? Certainly not in DC!
So, how many billions in Treasurys does Timmah have to roll in Aug? 500?
Just sickening to watch these asshats grinning and slapping each other on the back.
120% debt/GDP...hey I know, lets get some more debt!
Sure I can see this just coasting on, gubment checks just keep keep rolling out to the 40% non-producers and jobless so they can feed their families of 7, food and oil prices just stay in a steady Goldilocks range... I mean, what could go wrong?
Look at those interest rates. Yup, senior citizens with hard earned savings just loving this country. But, Lloyd and the rest are OK. Cannot let Timmy's consorts down.
I feel sick to my stomach.....this is...was disgusting....they lied to us...they used smoke and mirrors..the world sees it now...and are making changes behind closed doors...we are toast...Treasuries..Bonds have me suprised right now...but I think there is some under the table game there..
You're not married and you don't have kids right?
You should get some, and you'll get used to it :)
All this fools no one, the gig is up.
Expect to be lied to by bankster puppets. I welcome all the time I can get to prepare, and I hope others are doing the same. Focus on preparations for the future, not the day to day doom surrounding us.
The world is indeed awakening.
Russia's supreme commander is pee-ed off
I love Putin's comments. If this were truly how the communists in Russia felt it would have been nice for them to keep their socialist ideals to themselves instead of infecting the west with it.
I think it's more likely theater on Mr. Put in's part.
instictiveDrift.
Consider the source.
Czar Vladamir I of the new Russian Empire is no friend of the US.
Strangely, He and Barry I of the USSA were both raised to revere the greatness of the USSR, and communism in general.
To peas in a pod, seperated only by geography.
Now the run into new T-bonds is gonna start. US still is a safe haven - for the time being. But it is. Nevermind all the doomers for now. So the first auction -coming week?- will be a Big Success. Mark my words.
I have no idea what assholes would be piling into dollar denominated debt. Only possible reason I can see is that upon collapse, they believe theyll be 'guaranteed' not to take as bad a haircut as everyone else who will soon be completely broke. Fuck your bonds, I wouldnt touch dollar based anything with a 10 foot pole.
This is a very wealthy, not at all serious nation that can spend 8 months playing with a meaningless, totally subjective issue like whether or not to decide to have the ability to borrow more money.
Think about that: Be like you deciding over 8 months whether or not to give yourself the authority to do something that you already are able to do but you put a false thought in your head to not be able to do it. Talk about mental masturbation.
Colossal waste of the ether, time better spent on apprehending Joe Cassano on any trumped up charge you can think of to get his ass in front of Bubba for about 50 years, or finding out where in hell Chris Cox is to prosecute hime for his utterly failed admin of the SEC or at the very least clawing back the money he was paid to do it and any ill-gotten gains he made on insider trading.
We have just squandered months of useful prosecutorial time on the equivalent of a dog chasing it's own tail.
Tell me again how stupid CONgress peeps are? That they can successfully distract everyone from the most serious issue of our time with their criminal, idiotic, quixotic approach to holding bankers harmless?
Wheren't there supposed to be 75 senators to approve it?
WHERE ARE THOSE OTHER 15 PATRIOTS?!!
Market reaction: New low.
DAX on Exlax!
Tell Warren Buffet to buy a few more US Rating agencies to keep the "AAA" Rating for the US Dollar.
At least we all know now what the A's stand for...
Looks like we're getting into serious spelunking mode. DOW 12K...SEE YA!
the PPT is fighting back...must hold 12k....
For now.
Dear Lord,
Thank you for blessing me with the insight to recognize the rampant greed and irresponsibility among this nation and its people when I saw it, for giving me a knowledge of history, and an understanding of your word. I thank you for showing me yet again what happens when people believe they can rely on their own decision making and reason alone with no clear compass. Thank you for blessing me with the impulse to ramp up my precious metals position three years ago. Thank you for protecting my family and please watch over those caught in this latest mess.
Amen.
And thanks for the second amendment.
Amen
Almost 500 billion in treasuries maturing in August, plus all the money congress needs to borrow after Obama signs on the dotted line, plus a possible credit rating downgrade sounds to me like a recipe for a bond market crash. Of course the stock market crash will follow. Then QE3 will follow. Then the dollar crash will follow.
It's gonna be a bitch timing that mess but I'm with ya
Bonds surge to 130-16 ... go figure
Since the T-Party isn't doing much, maybe we should get some advice from T-Pain.
Hell they will just scrap this piece of shit next year anyway. They got what they wanted more spending.
They have basically screwed the elderly for saving all their lives and anyone else. Time to move asap!
Buy a saliboat go do some fishing and return and barter it for produce! Bend over all time to take it like never before!!
Glad I didn't fall too far in love with America. She's toast. Hmm ... now where to?
In the mean time gonna try and cash in on it.
I personally like New Zealand at the top of the list of good bug-out locations. Those Kiwis are laid-back and the only downside seems to be funnel-web spiders.
don't forget about the Christchurch Earthquakes....
but apart from that NZ is a very nice place...
New Guinea is the ultimate refuge. There is no electricity anyway so you won't have to listen to people bitching and whining about the heat, and when you run out of food, you just eat your neighbors, there's no social stigma about cannibalism.
And there is the Papuan Black Bass as well.
pods
I love New Zealand and Australia.
The south island NZ is to die for.
Anywhere near the coast of the Australian continent or Tasmania is way cool, too.
But you can't bring your armory to either place.
Hey Sudden, what the hell is going on with Italy and Spain, understand the banks are not happy. We are just part of the problem. This is one big puzzle with all the pieces starting to fit in.
Super Committee is the Cat Food Commission
http://www.commondreams.org/newswire/2011/08/01-6
JANE HAMSHER, firedoglake at gmail.com
Hamsher, founder of the blog FireDogLake, just wrote the piece “Whip the Super Congress: Call and Ask Your Member of Congress if They Like Their Job.” which states: “You won’t find a Super Congress mentioned anywhere in the Constitution. It will be an elite body of 12 members of Congress who write legislation behind closed doors and then announce it to the public. Whatever they decide will then be fast-tracked through both chambers, where it can’t be amended by simple, regular lawmakers.
“This is the ‘Catfood Commission’ on steroids.
“The creation of a ‘Super Congress’ is how Congress intends to insulate themselves from taking unpopular votes to cut Social Security and Medicare benefits — by investing a small group of elites with extraordinary powers, and then tying their own hands from stopping them.”
August 1, 2011
We The Stupid
Ann Barnhardt
I stand here in abject stupefaction. The so-called "right" or "Tea Party" in this republic is being so thoroughly rolled and defeated that I am struggling to come up with an adequate violent submission metaphor that does not involve prison rape . . . and they honesty think that they're "winning." Really? You call this winning?
http://www.americanthinker.com/blog/2011/08/we_the_stupid.html
Dow below 12,000.
All bets are off.
Got gold and silver?
Thanks for playing.
*End message*
**End this decadent way of life**
120% debt-2-gdp is not that bad. It would have been nice to see a little more of a sell-off. I say we'll see the dow above 12k tomorrow.
great, can we now get a budget?
so what will be the (planned-response) event that is not to be wasted after this crisis?
The politicians played too long and too loud. They are just not able to shift gears and even CONCEIVE of a loss of confidence in the USD because it means an end to their entire world, predicated on infinite free money. With their drama they've only woken up millions (100s of millions?) more to the gravity of the US fiscal situation and the pervasive dysfunction of government.
Well, I'll be the first to admit. I was 100% wrong on my prediction.
In trying to match up real life events with predictions from Asymmetrical Trend Analysis from Mr. High, one can only assume the "shock" associated with this time frame will now manifest in one of two ways:
1) A downgrade and subsequential market reaction
or
2) Gold/Silver skyrocket and physical delivery fails, derivatives implode and the subsequent economic unravel ensues.
Thats it.
As spectacular and dramatic as your predictions sound. I believe you failed on this one too. Predicting is hard without a detailed computational model and some friends in the right places.
I have to leave, tonight I'm working the night shift. I'll talk to you Zeros tomorrow.
As I continue to pound this piece of beef with a meat hammer, I predict that the sinew will break down into a soft mass.
I wonder what the equation for that is?
I am eating some form of beef every night this August so that I have bragging rights in my old age, because our grandchildren won't believe it, if they even know what steak tastes like.
No electricity: A great barter idea is rolls of screening. When the electricity goes out, people are going to have to open their windows. If they get enough bug bites, they will pay anything for those screens.
Do windows even open anymore? Who would know, right? I hate air conditioning. People wonder why they are so damned fat, but they sit around in a cooler all day. Gee, the biological response to being cold all day isn't rocket science. The only reason we have it is because our children wouldn't sleep at night without it, and that of course would quickly drive us insane.
These mean libertarians are unhappy about this courageous bipartisan effort, simply because they don't want the poor to receive their benefits. Absolutely shameful.
Yes and hate little black babies and puppies, fuck off troll.
Pointed to at Drudge:
"Fiscal Conservatives Barred from Supercommittee "
http://www.weeklystandard.com/blogs/fiscal-conservatives-barred-supercommittee_581921.html
You do not need a crystal ball to tell the future.
Just keep stacking and stashing.
Don't forget to throw in a good length of rope. We are going to need it. I'm long liberty trees.
here is a quote that helps to understand why the economy thrieves on debt and perpetual enslavement
Nailed it BB. That is the reason why they increased the debt targets. Cause private sector debt to the banks was not increasing. And it has to increase, for that is how the system has to work.
The whole system is rotten to the core. Austerity is another ruse. That merely means the banks are fat enough off of interest to take possession of tangible property through default.
pods
Scene after the Senate vote:
http://www.youtube.com/watch?v=dsx2vdn7gpY
Little Timmy must be feeling the urge to spend more time with his family, a good thing. The desimation of this great nation simply has to be intentional, there is no other explanation. The English language dosen't contain the words to express my utter disgust with what's happening in DC. November 2012 can't come fast enough, not that there's any guarantee things will improve, but this country needs to be shaken up from top to bottom. I pray God will continue to bless the USA.
Rush Limbaugh at 1:42 "We are living in a Ponzi scheme and eventually the Ponzi has to collapse."
double-tap. Sorry.
I'm surprised at anyone's surprise at this. The "kick the can down the road" verdict was staged long ago. We just witnessed the closing scene of the play. Only a SHTF era will reset our compass.
They bought us a bit more time to learn how to recognize friend and foe. Keep your side arm handy, ammo cans full and a few rolls of screening hidden....
74 votes in favor.
We just raised the debt limit by 2.4 trillion and made raising it again in the future far easier. Is anyone here really surprised that the markets are tanking? Well, duh! Maybe it isn't all algorithms after all.
I wish all the pain and misery of Hell upon the political hacks and their respective families who voted for this absurd monstrosity. That's right, I now hate em all the way down to their DNA.
As much as this monstrosity enrages most here, we are not powerless.
WE have to borrow to keep the game going. If private debt creation stops, then the government will be forced to create more debt, hastening the collapse.
This buys us MORE time to prepare.
Get out of debt, put your savings in tangible goods. Metals, be it precious, or semi precious (Cu jacketed Pb), food, and now window screening. :)
This is a blessing, as our children will benefit from what we are doing now. They can have the fruits of our labor, if we stop living in the lie.
Forget trying to stay ahead of the ponzi, and chase return in the fiat system. Drop out!
We will prepare yourselves, leave property for our children, and bust the system all in one.
Where else are you going to find a return THAT GOOD?
pods
don't bet on congress solving for more than a few months and compiling problems in exchange for a few more years. That's the ST/LT trade-off.
greed of gold is hotting up
Looks like what I laughingly call "My" two Senators, Blumenthal & Lieberman (Sounds like a law firm does it?) Voted YES on this one, what a surprise (Ha!)
Senator Coburn from OK on why he voted against the debt deal.
http://coburn.senate.gov/public/index.cfm/2011/8/why-i-voted-against-the...
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