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Update: America Has A $16.4 Trillion Debt Ceiling In 52-44 Senate Vote

Tyler Durden's picture




 

Update: the Senate has failed to reject a bid to stop the debt ceiling hike with a simple 52 vote majority all of it along party lines. The US now has $16.4 trillion in debt capacity as of Friday. Since roughly $100 billion was plundered from Pension Funds in the past month, The US will have about $15.4 trillion in debt with the Monday DTS. The question then is how long will the $1 trillion in debt capacity last: at $125 billion/month it won't be enough to carry the US past the election without another massive debt ceiling spectacle.

While Congress recently voted down the increase in the US debt ceiling, that vote was largely irrelevant. And all that matters is how the Senate will vote. Watch it live in progress below. It is virtually unlikely that the process of debt ceiling increase will be overturned so within minutes the US should have a brand spaking new debt ceiling of $16.4 trillion.

 

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Thu, 01/26/2012 - 13:04 | 2099939 Missiondweller
Missiondweller's picture

Makes me sick

 

Thu, 01/26/2012 - 13:08 | 2099955 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

If you spew, spew in this.

[Hands Missiondweller a paper bag with Obama's face on it]

Thu, 01/26/2012 - 13:21 | 2099968 Max Fischer
Max Fischer's picture

 

 

Another debt ceiling increase?  God damn honkies!  All these fucking white politicians destroying our country! 

Max Fischer

Thu, 01/26/2012 - 13:23 | 2100011 MillionDollarBonus_
MillionDollarBonus_'s picture

The ball is in Obama's court now. He needs to reach out to dissident republicans and convince them of the moral case for increased spending.

Thu, 01/26/2012 - 13:26 | 2100026 Everybodys All ...
Everybodys All American's picture

Dissident? You can do so much better. Yes you can. Yes you can. $20 trillion on deck in 4 yrs. You are a waste of time and bandwidth.

Thu, 01/26/2012 - 13:28 | 2100035 MillionDollarBonus_
MillionDollarBonus_'s picture

It's easy to quote scary sounding debt figures without any context, but what is this debt financing. The truth is that it is financing roads, bridges, schools and support programs for the poor. The government has a MORAL responsibility to provide these things, even if it means borrowing from future generations of unborn children. When these children grow up with the fruits of a compassionate government, they will thank congress for their wisdom and kindness.

Thu, 01/26/2012 - 13:31 | 2100044 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

So, it didn't pass, so does that mean...what's that mean?  Will someone help me out, I's confused....

Thu, 01/26/2012 - 13:39 | 2100101 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

The bill was to reject a debt ceiling hike?  Ok, so we razed the debt ceiling.  Praise the lord!  Time to drop some dollars from the sky!  Make it rain Bernanke!!

Thu, 01/26/2012 - 14:11 | 2100147 redpill
redpill's picture

Traitors.

PMs should see a small pop though. 

Thu, 01/26/2012 - 14:14 | 2100261 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

Retrace back to $1900 during the next three weeks, and then it will find equilibrium at $1800 before the EUro collapse.  Euro colapse in early March.  Then it skyrockets. 

Thu, 01/26/2012 - 14:24 | 2100290 TruthInSunshine
TruthInSunshine's picture

Canada's new 'paper' money is made entirely of plastic (no, I shit you not/this-is-not-inane-ranting):

How the hell are people going to stay warm? That shit doesn't burn!!!! IDIOTS!!!!!!

Thu, 01/26/2012 - 14:28 | 2100324 BeerBrewer09
BeerBrewer09's picture

oil money, literally.

Thu, 01/26/2012 - 14:32 | 2100340 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

They'll get high off of the fumes and not care that they are cold.

Thu, 01/26/2012 - 14:41 | 2100383 Rincewind
Rincewind's picture

I believe Australia has had plastic money for a very long time (since 90's or so).

Thu, 01/26/2012 - 16:03 | 2100659 Silver Dreamer
Silver Dreamer's picture

I used to suggest we'd be over 20 trillion by 2015.  Now I'm no longer sure.  It may take far less time.  Perhaps we'll be at 20 trillion by the end of the year.  Ignorance is bliss?

Sometimes I seriously just want to go back to sleep: http://youtu.be/7D_q2tS4WHA

Thu, 01/26/2012 - 16:26 | 2100726 peekcrackers
peekcrackers's picture

I am Canadian .. The realy wierd part is the new plastic 100.00

smell like Maple syrup and pancakes ..  I am not kidding google it.,

Thu, 01/26/2012 - 14:11 | 2100254 orkoSvalbard
orkoSvalbard's picture

The bill was to put forth "disapproval of the President’s exercise of authority to increase the debt limit."  It started in the House (Republican) and was rejected by the Senate (Democrat).    Anyway, increasing the debt limit just means that we can sell more treasuries to the Fed.   We were told months ago that Goldman runs the world.  This is just more proof.

Thu, 01/26/2012 - 14:12 | 2100255 orkoSvalbard
orkoSvalbard's picture

Double

Thu, 01/26/2012 - 13:30 | 2100046 economics1996
economics1996's picture

The last time the government built something that helped the economy was the interstate highway system in the 1950s.

Thu, 01/26/2012 - 13:43 | 2100122 LawsofPhysics
LawsofPhysics's picture

Well, that was one good thing, but don't forget that at that time the U.S. had a lot of oil that was cheap to extract.  I wonder where MDB expects the cheap energy to come from?  Print all you want, nothing will get done if the energy is not available.  perhaps I need to take another look at my energy portfolio.

Thu, 01/26/2012 - 13:54 | 2100178 A Lunatic
A Lunatic's picture

Why can't we just adopt a National Fractional Reserve Energy Policy tied to carbon credits?

Al Gore/Arianna Huffington 2012

 

Thu, 01/26/2012 - 14:04 | 2100220 LawsofPhysics
LawsofPhysics's picture

I didn't realize it was possible to "print" commodities.  

Thu, 01/26/2012 - 14:19 | 2100274 A Lunatic
A Lunatic's picture

If you can get enough unicorns together anything is possible.

Thu, 01/26/2012 - 13:52 | 2100160 stirners_ghost
stirners_ghost's picture

Private rail had a different take on that.

Thu, 01/26/2012 - 13:31 | 2100054 Max Fischer
Max Fischer's picture

 

 

@MDB

Clearly, you're just another liberal faggot.  We need to crash the system, even if it means urban warfare and anarchy.  If you aint't got guns, gold and canned food, you ain't gonna make it, son.  You've been warned. 

Ron Paul 2012

Thu, 01/26/2012 - 13:32 | 2100061 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

I can't handle trolls trolling trolls this early.  Can one of you leave and come back later, otherwise I am going to need another cup of tea.

Thu, 01/26/2012 - 13:34 | 2100070 GeneMarchbanks
GeneMarchbanks's picture

NO! NO!

Let them go. This is amazing. I'm semi-erect.

Thu, 01/26/2012 - 13:35 | 2100072 fuu
fuu's picture

Almost clever there RNR/LFP.

Thu, 01/26/2012 - 15:45 | 2100606 trav7777
trav7777's picture

dude is talkin to himself

Thu, 01/26/2012 - 16:00 | 2100650 fuu
fuu's picture

If so he does a good job staying in character as MDB. He has a harder time on the other side, he eventually repeats an earlier persona verbatim.

Thu, 01/26/2012 - 13:39 | 2100098 MillionDollarBonus_
MillionDollarBonus_'s picture

You see? This is the kind of masochistic libertarianism that is DESTROYING this great country. There are many varieties of libertarian, from redneck silverbugs to insane delusional conspiracy theorists and anarchist computer nerds. However, they all share a sick masochism and hate for decent principles and the common citizenry.

Thu, 01/26/2012 - 13:44 | 2100125 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

Did you get beat up often as a child?

Thu, 01/26/2012 - 14:19 | 2100273 WillyGroper
WillyGroper's picture

By Quakers.

Thu, 01/26/2012 - 13:45 | 2100128 zerotohero
zerotohero's picture

Hate to agree with MDB but he has a point - logic.

Thu, 01/26/2012 - 13:55 | 2100179 YBNguy
YBNguy's picture

Wake the F up, there is NO difference between the 2 parties. Hence Barrack Bush III. All once great empires fell, and we are different how? Shits going to get bad over the next 10 years and with history having my back, your point is ILLOGICAL. But keep thinking we can save it all, hell go to detroit and start there, your hopeium is needed.

Thu, 01/26/2012 - 14:43 | 2100391 HoofHearted
HoofHearted's picture

zeronotahero...hate to break it to you, but MDB is the greatest sarcastic poster around. He's probably laughing his ass off that you believe something so patently absurd.

Thu, 01/26/2012 - 16:41 | 2100769 peekcrackers
peekcrackers's picture

This is good .. got it off the Ron Paul site.

2 party sytem for dummies

http://www.youtube.com/watch?v=ofWWVFOSNoA&context=C3da81d1ADOEgsToPDskLS6TdzlbxkP_z3LPXwldWS

Thu, 01/26/2012 - 13:47 | 2100137 LawsofPhysics
LawsofPhysics's picture

Yeah, people get like that when you steal the value of their labor.  Fuck all the paper-pushing fucknuts.  None of this is sustainable, know the value of your labor? you fucking better.

Thu, 01/26/2012 - 13:55 | 2100175 MillionDollarBonus_
MillionDollarBonus_'s picture

This isn't some third world country like the Congo or India! We are Americans and we deserve AMERICAN WAGES, no matter what value you place on our hard work. The minimum wage has brought prosperity to millions of people, and raising it would improve living standards further still.

Thu, 01/26/2012 - 14:03 | 2100207 Max Fischer
Max Fischer's picture

 

 

Minimum wage laws?  No FUCKING WAY, YOU MARXIST PIECE OF SHIT!  We need survival of the fittest, where everyone fights for whatever crumbs the plutocracy leaves for us.  Just because you're a pussy and can't fight for yourself, doesn't mean the entire country needs pussy policies. If everyone learned how to fight, we wouldn't have become a nation of dependent pussies.  Minimum wage is only for the poor parasites, anyway. If we can get rid of the stray dogs, the entire neighborhood will look better, if you know what I mean. 

Ron Paul 2012

 

 

Thu, 01/26/2012 - 14:08 | 2100231 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

Minimum wage keeps people from getting a wage they deserve.  If you accept the minimum of anything, you will the minimum.  Don't you see the logic?  No?  Read Mises then.

Thu, 01/26/2012 - 14:15 | 2100265 Max Fischer
Max Fischer's picture

 

 

Exactly.  

If we could pay some people (and we both know what people I'm talking about <wink, wink>) two or three dollars an hour, then the corporations would become richer.  When the corporation becomes richer, the 1% gets rich and they, in turn, "trickle down" their wealth onto the masses.  The liberal faggots seem to think that the "trickle down" is nothing but bullshit, a "golden shower" from the plutocracy, but that's only because they're perverts and that's just the way they think.  Real trickle down economics has proven to be a success in many different countries, including the US over the last 30 years.  

Ron Paul 2012

Thu, 01/26/2012 - 14:37 | 2100357 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

Or we could have no minimum wage and workers could go on strike until they recieved fair comp vs. corporate earnings which would be much higher than the minimum.  Of course with most corporate jobs overseas due to NAFTA it would need to be a revolution against the fascist government/corporate system.

Thu, 01/26/2012 - 16:11 | 2100687 Silver Dreamer
Silver Dreamer's picture

Logic is not allowed.  You must rely solely on emotions to defend your positions.  The minimum wage makes me feel better about myself after all.

Fri, 01/27/2012 - 00:10 | 2101667 StychoKiller
StychoKiller's picture

Well then, why not increase the minimum wage to something really useful, like $2000/hr?  (Hint, because it would draw attention to the logical fallacy of demanding minimum wage(s)!)

Thu, 01/26/2012 - 14:29 | 2100314 LawsofPhysics
LawsofPhysics's picture

Precisely.  A "minimum" wage implies that there is some "minimum" level of work that will insure your survival.  If Nature can not insure your survival, why would anyone believe that any man-made law or institution could.  This reminds me of visiting Russia during communism and trying to get good service in a restaurant.  Why should any of the waiters work a little harder, they were all getting paid the same regardless.

America isn't a third world country yet, but there certainly are some "minimum wage" neighborhoods that come close.

Thu, 01/26/2012 - 14:02 | 2100216 LawsofPhysics
LawsofPhysics's picture

"The minimum wage has brought prosperity to millions of people"

LOL!!!  BAh ha ha ha ha ha!  Yeah, supersize me.

You are indeed halarious MDB.  Again, print all you want, my commodities portfolio will be very happy.

Thu, 01/26/2012 - 14:08 | 2100237 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

+1

Prosperity of the minimum wage earners.  Pure comedy gold.

Thu, 01/26/2012 - 13:58 | 2100183 Max Fischer
Max Fischer's picture

 

 

Yeah. And there's all kinds of liberals, to. Faggots in San Francisco. Faggots in Miami.  Faggots in NYC.  

HAHHAHAHAHAHAHAHAHAHAHAHAHAHAHA!

Ron Paul 2012

 

Thu, 01/26/2012 - 14:11 | 2100250 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

You are such a duche.  You are the biggest duche.  You are filled with hate.  How dare you lump such a stereotype!  Ron Paul supports State's rights you idiot!  He supports marriage for whomever wants it.  He supports whatever each State wants!  You are the greatest duche in the universe.

Thu, 01/26/2012 - 14:19 | 2100276 Max Fischer
Max Fischer's picture

 

 

Why are you arguing with me?  I know Ron Paul supports gay marriage! That's why most Ron Paul supporters are the most faggot tolerant voters in America.  Go to any Ron Paul forum, and you'll find the most friendly, tolerant, diverse group of individuals anywhere.... including faggots.  

 

Thu, 01/26/2012 - 16:44 | 2100752 flattrader
flattrader's picture

>>>Go to any Ron Paul forum, and you'll find the most friendly, tolerant, diverse group of individuals anywhere.... including faggots.<<<

and his Christian Reconstructionist nutball Old Testament bible banging core supporters!!!

At least the campaign is diverse...if not schizophrenic...and I'm being serious.

Public Stonings 2012!!!

Gay Marriage 2012!!!

Legalized Pot 2012!!!

No Abortions Under Any Circumstances 2012!!!

Thu, 01/26/2012 - 14:34 | 2100348 tinsmith
tinsmith's picture

All of the 'tongue in cheek' posting around here is making it hard to discern who is troll baiting, who is trolling, who is serious and who is flat out crazy/delusional. I have a hard time deciphering MDB sometimes. His posts seem to walk the tightrope of ridiculous baiting and drooling delusion. Either way, I enjoy ZH for the information/education/multiple viewpoints but the back and forth between MDB and others is getting a little tired. Don't know why I posted this as a reply to you in particular, it just seemed to fit in the flow.

Thu, 01/26/2012 - 14:42 | 2100385 LawsofPhysics
LawsofPhysics's picture

I made the mistake of going down that road once with MDB, he is indeed serious.

Thu, 01/26/2012 - 15:48 | 2100613 trav7777
trav7777's picture

no he's not.  And he and Fischer are one and the same.

Thu, 01/26/2012 - 16:15 | 2100695 Silver Dreamer
Silver Dreamer's picture

I'm not sure what's more entertaining.  Is it his posts or the angry responses to them?

Thu, 01/26/2012 - 16:30 | 2100737 viahj
viahj's picture

if not, then they should switch names and then all will be right again here in ZH comments

Thu, 01/26/2012 - 17:00 | 2100822 flattrader
flattrader's picture

>>>but the back and forth between MDB and others is getting a little tired.<<<

It's Fight Club...it will wear your ass out.

Thu, 01/26/2012 - 16:13 | 2100692 Silver Dreamer
Silver Dreamer's picture

You wrote "duche" many times.  Who's the douche now?  /tease

Thu, 01/26/2012 - 14:24 | 2100300 WillyGroper
WillyGroper's picture

wasting alot of energy on 1 group of people to hate, Maxi

Thu, 01/26/2012 - 13:44 | 2100064 X. Kurt OSis
X. Kurt OSis's picture

......The elegy of every twisted Marxist experiment in the history of the world.

Thu, 01/26/2012 - 13:42 | 2100113 STP
STP's picture

Idiot thinking and par for the course for MDB. " ...support programs for the poor. The government has a MORAL responsibility to provide these things...."

What an Alinsky driven fool, who's probably never heard of the Cloward-Piven strategy of the "Weight of the Poor"

MDB would love to see the size of an already huge Government, grow and grow, like some Chimera until it's oppressive weight suffocates the private economy (well, what's left of it anyways).

MDB only has to look to California, to see what rampant, stupid socialism will do to the budget.  The top taxpayers are fleeing the state, even with the call for 'more taxes on the rich', even though the top 15% pay 85% of the Income Taxes on the State.

Meanwhile, California will pay for your baby and the next one, and so on.  And the TAXPAYER (not the goddamn Govt, where do you think the money comes from fool?) will pay for this and California's First Five, and CALWORKS babysitting and free school breakfasts, lunches, snacks and so on.

Hey buddy boy, who said I have to pay for someone else to reproduce on my dime? 

And through Section 8, I pay for their housing.  Don't forget Food Stamps (or Obama voters!)

 

Thu, 01/26/2012 - 15:49 | 2100620 trav7777
trav7777's picture

that socialism WORKS in all-white states in the NE.

It only DOESN'T work when you bring 50% of the population in as mexicans.

there's a reason africa is africa and mexico is mexico and canada is canada.  It's the fuckin PEOPLE.

You cannot extend a social contract to people who don't uphold their end of it.

Thu, 01/26/2012 - 13:58 | 2100190 AC_Doctor
AC_Doctor's picture

MillionDufusBoner with more Socialist propaganda drivel.  Sorry, but I appreciate your compassion for the poor and weak but this spending binge is going to stop soon with a startling crash and the world may be finally free of this oppressive Keynesian spending.

Thu, 01/26/2012 - 14:11 | 2100253 Zymurguy
Zymurguy's picture

I just love MDB... the purity of the comments is uncanny.

Communist, yes... but still incredibly uncanny.

Thu, 01/26/2012 - 14:51 | 2100418 Rincewind
Rincewind's picture

I like that logic. I will build a bigger house as soon as possible, take out a huge mortgage and ensure my children will pay it off for me when I am dead, because it is my MORAL responsibility to provide them with luxuries they can pay for later. </sarc off>

Thu, 01/26/2012 - 16:04 | 2100663 Ignorance is bliss
Ignorance is bliss's picture

The debt ceiling increase also funds wars, war machines, 150 plus milirary bases around the world, bombs in Libyia, Guantanamo Bay, FEMA camps, etc...

Aside from straight up death and destruction our debt ceiling also provides donations and subsidies to companies like Solyndra, GM, Monsanto, etc...

If we spent our resources just on roads, schools, and taking care of our elderly and sick, then I would be okay with it.

However, we waste it on Global  destruction and manipulation of the ameircan way. 

 

 

Fri, 01/27/2012 - 00:02 | 2101657 StychoKiller
StychoKiller's picture

We're also supplying bombs to kill brown people on various parts of the planet, Multi-Trillion foreign bank bailout$...how convenient, you leave out the ugly facts in yer post!  -1,000,000 for you, PAY UP!

Thu, 01/26/2012 - 13:28 | 2100037 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

I hate it when there is more than one troll at the top of the thread.  I don't know which one to aim at first.

Thu, 01/26/2012 - 13:54 | 2100172 RichardENixon
RichardENixon's picture

Hey Lennon, my eyes aren't what the used to be, what is that new avatar of yours?

Thu, 01/26/2012 - 14:12 | 2100257 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

12 Monkeys

Thu, 01/26/2012 - 14:27 | 2100315 Max Fischer
Max Fischer's picture

 

 

family portrait 

Thu, 01/26/2012 - 15:50 | 2100625 trav7777
trav7777's picture

FTMWF...i actually LOL'd at that

Thu, 01/26/2012 - 13:27 | 2100031 The Big Ching-aso
The Big Ching-aso's picture

 

 

Just more B-Grade Kabuki theater on the Potomac.   Season tickets still available.  

Thu, 01/26/2012 - 13:43 | 2100121 SheepDog-One
SheepDog-One's picture

They wouldnt even have staged the 'vote' unless they already knew it would pass.

Thu, 01/26/2012 - 13:28 | 2100038 economics1996
economics1996's picture

I though Republicans were Democrats?  

When was the last time we had a two party political system?  

1892 when Democrats were for hard money.  

Its been a one party system ever since.  If you are playing the red team/blue team game you are a idiot.

Thu, 01/26/2012 - 13:30 | 2100043 Max Fischer
Max Fischer's picture

 

 

<deleted>

 

 

Thu, 01/26/2012 - 13:32 | 2100060 economics1996
economics1996's picture

Sad but true.  

Thu, 01/26/2012 - 14:08 | 2100232 fuu
fuu's picture

Best thing you've said in months really.

Thu, 01/26/2012 - 14:12 | 2100260 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

Ever

Thu, 01/26/2012 - 13:30 | 2100049 JPM Hater001
JPM Hater001's picture

Hang on, I'm laughing so hard about that "moral case" thing.

I laughed so hard my great grand kids are hurting.

I'm going to go cry now for the future that has been sold...

Thu, 01/26/2012 - 13:37 | 2100085 SilverIsKing
SilverIsKing's picture

Increased spending accessorized by an expanded debt ceiling is certainly the moral thing to do.  Anything else would be...well...immoral.

Thu, 01/26/2012 - 13:50 | 2100148 SheepDog-One
SheepDog-One's picture

The balls are usually in ObaMao's mouth, I think you meant to say, MDB.

Thu, 01/26/2012 - 16:29 | 2100724 GenX Investor
GenX Investor's picture

Amazing people talk about how much money AAPL has on its B/S, when put in this perspective, it wouldn't cover 30 days of just the deficit spending!!!

Congrats everyone, well done!

Thu, 01/26/2012 - 13:20 | 2099998 misterc
misterc's picture

Olli Rehn says Greece needs a few billions more shortly. This will be the 3rd rescue package.
Ponzinomics Warp 10! 

Thu, 01/26/2012 - 13:58 | 2100193 55 men
55 men's picture

WOW! 52-44... sounds like it was a really good game. Did anyone DVR that, I would love to see that one.

Thu, 01/26/2012 - 13:34 | 2099969 TruthInSunshine
TruthInSunshine's picture

Paul Krugman's 1 Point Plan to Erase The U.S. National Debt:

 

1)  Have Treasury print 16.4 trillion USD, plus an additional number of USD, in an amount sufficient to cover 'off the books' debt (estimated to range from 45 trillion to 185 trillion, by the likes of David M. Walker & Laurence Kotlikoff), and have The Bernank monetize it.

 

[Treasury can even print some extra to allow Big Brother/Dear Leader to be able to benevolently provide fuel, energy and food subsidizies to the now even more indebted debt serfs in the face of the resulting inflation, which will tide them over for at least 2 1/2 weeks]

 

Problem solved, bitchez.

And that's how Nobel Laureates in Economics are won. Snap!

 

* Watch David M. Walker in the I.O.U.S.A. movie trailer - YouTube

* U.S. Is Bankrupt and We Don't Even Know It: Laurence Kotlikoff

* Sounding the national debt alarm - Houston Chronicle

* Boston University's Kotlikoff Explains Why The US Is Bankrupt

 

***Make sure to buy & read Paul Krugman's upcoming book, 'Debts Are From Mars, My Debt Solution Hails From Uranus,' to be sold at all fine bookstores and on Amazon.com soon.

Thu, 01/26/2012 - 13:35 | 2100074 economics1996
economics1996's picture

Print $20 trillion and drop it from the helicopter.

Thu, 01/26/2012 - 13:38 | 2100092 TruthInSunshine
TruthInSunshine's picture

The real reason the DoD is honing drone aircraft technology so finely is to allow The Bernank to more 'surgically' deposit/drop money. Dropping it from helicopters risks having some of it get into the hands of normal, everyday Americans, whereas drones can deliver large bundles of fiatski with surgical precision to the best friends of the New York Branch of The Non-Federal Reserve-less Non-Bank (Geithner's old stomping grounds).

Thu, 01/26/2012 - 13:50 | 2100151 A Lunatic
A Lunatic's picture

Why don't we just invent a helicopter that is also a printer?

Here's some debt ceiling humor for you.

DEBT LIMIT - A GUIDE TO AMERICAN FEDERAL DEBT MADE EASY. - YouTube

Thu, 01/26/2012 - 14:11 | 2100249 tarsubil
tarsubil's picture

Don't give them any ideas!

Thu, 01/26/2012 - 14:17 | 2100267 Zymurguy
Zymurguy's picture

Fucking best idea I've ever heard.

Just fly and print and dump.  With enough choppers we'll pay off all this debt in no time.

That's what we should do, just print us up trillions of dollars and use it to pay off all our debt's and then start over with a clean slate.  Stop with all these silly little incremental debt ceiling hikes... just get it over with already.  It's all fake worthless paper anyway.

Thu, 01/26/2012 - 13:43 | 2100118 Clueless Economist
Clueless Economist's picture

I ENDORSE THIS PLAN

The only solution to the debt crisis, is more debt

--P. Krugman Nobel Winner

Thu, 01/26/2012 - 14:10 | 2100246 GetZeeGold
GetZeeGold's picture

 

 

Worked out well for Enron......thanks Paul.

 

 

Thu, 01/26/2012 - 13:44 | 2100123 SilverIsKing
SilverIsKing's picture

Don't you mean, "Debts Are From Mars, My Debt Solution Hails From Your Anus?"

Thu, 01/26/2012 - 13:50 | 2100149 Chupacabra-322
Chupacabra-322's picture

From a speech in Congress in The Bankruptcy of the United States Congressional Record, March 17, 1993, Vol. 33, page H-1303, Speaker Representative James Trafficant Jr. (Ohio) addressing the House states:

“…It is an established fact that the United States Federal Government has been dissolved by the Emergency Banking Act, March 9, 1933, 48 Stat. 1, Public Law 89-719; declared by President Roosevelt, being bankrupt and insolvent. H.J.R. 192, 73rd Congress m session June 5, 1933 – Joint Resolution To Suspend The Gold Standard and Abrogate The Gold Clause dissolved the Sovereign Authority of the United States and the official capacities of all United States Governmental Offices, Officers, and Departments and is further evidence that the United States Federal Government exists today in name only.

The receivers of the United States Bankruptcy are the International Bankers, via the United Nations, the World Bank and the International Monetary Fund. All United States Offices, Officials, and Departments are now operating within a de facto status in name only under Emergency War Powers. With the Constitutional Republican form of Government now dissolved, the receivers of the Bankruptcy have adopted a new form of government for the United States. This new form of government is known as a Democracy, being an established Socialist/Communist order under a new governor for America. This act was instituted and established by transferring and/or placing the Office of the Secretary of Treasury to that of the Governor of the International Monetary Fund. Public Law 94-564, page 8, Section H.R. 13955 reads in part: “The U.S. Secretary of Treasury receives no compensation for representing the United States…

Prior to 1913, most Americans owned clear, allodial title to property, free and clear of any liens of mortgages until the Federal Reserve Act (1913) “Hypothecated” all property within the Federal United States to the Board of Governors of the Federal Reserve, in which the Trustees (stockholders) held legal title. The U.S. Citizen (tenant, franchisee) was registered as a “beneficiary” of the trust via his/her birth certificate. In 1933, the Federal United States hypothecated all of the present and future properties, assets, and labor of their “subjects,” the 14th Amendment U.S. Citizen to the Federal Reserve System. In return, the Federal Reserve System agreed to extend the federal United States Corporation all of the credit “money substitute” it needed.

Like any debtor, the Federal United States government had to assign collateral and security to their creditors as a condition of the loan. Since the Federal United States didn’t have any assets, they assigned the private property of their “economic slaves,” the U.S. Citizens, as collateral against the federal debt. They also pledged the unincorporated federal territories, national parks, forests, birth certificates, and nonprofit organizations as collateral against the federal debt. All has already been transferred as payment to the international bankers.

Unwittingly, America has returned to its pre-American Revolution feudal roots whereby all land is held by a sovereign and the common people had no rights to hold allodial title to property. Once again, We the People are the tenants and sharecroppers renting our own property from a Sovereign in the guise of the Federal Reserve Bank. We the People have exchanged one master for another.”

  • In 1944, Washington D.C. was deeded to the International Monetary Fund (IMF) by the Breton Woods Agreement. The IMF is made up of wealthy people that own most of the banking industries of the world. It is an organized group of bankers that have taken control of most governments of the world so the bankers run the world. Congress, the IRS, and the President work for the IMF. The IRS is not a U.S. government agency. It is an agency of the IMF. (Diversified Metal Products v. IRS et al. CV-93-405E-EJE U.S.D.C.D.I., Public Law 94-564, Senate Report 94-1148 pg. 5967, Reorganization Plan No. 26, Public Law 102-391.)

http://dev.republicoftheunitedstates.org/what-is-the-republic/history/

Thu, 01/26/2012 - 17:37 | 2100884 flattrader
flattrader's picture

You may want to find other credible sources for those claims...and there are plenty...rather than the Congressman of Crimetown.

http://www.tnr.com/article/politics/crimetown-usa?page=0,8

I think there's a documentary coming out.

Edit--Coming Soon  (the trailer is GREAT!)

http://www.kickstarter.com/projects/traficant/traficant-the-congressman-...

Thu, 01/26/2012 - 13:17 | 2099990 Fidel Sarcastro
Fidel Sarcastro's picture

Keynes bitchez!

Thu, 01/26/2012 - 13:39 | 2100099 SHEEPFUKKER
SHEEPFUKKER's picture

Raise the roof. Vaulted ceilings. 

Thu, 01/26/2012 - 13:40 | 2100107 Don Birnam
Don Birnam's picture

Missiondweller, use this. You'll never get that stuff out of your keyboard.

http://schulz.bytework.de/kotztuet/sic_sac_gr.gif

Thu, 01/26/2012 - 13:46 | 2100132 Eireann go Brach
Eireann go Brach's picture

Whats the difference between watching politicians in the senate and monkeys at the zoo flinging poo at each other?

Thu, 01/26/2012 - 14:39 | 2100374 Theta_Burn
Theta_Burn's picture

What no Drama?

For the $470.000 in fed dept that me & my family are responsible for i want FUCKING entertainment....

Mitt and Newt smiling like douchbags just aint cutting it for me anymore.

And they labled Greece as irresponsible...

What a joke

NOT WORK SAFE....http://www.youtube.com/watch?v=XnNgMvO7shI

Thu, 01/26/2012 - 21:52 | 2101474 Buck Johnson
Buck Johnson's picture

You know most of this debt is to us, the US liabilities.

Thu, 01/26/2012 - 13:34 | 2099941 hedgeless_horseman
hedgeless_horseman's picture

 

 

Farce: A comic dramatic work using buffoonery and horseplay and typically including crude characterization and ludicrously improbable situations.

 

The circus has been let completely loose, with the president now expected to address the nation following the Senate vote on the debt ceiling which by implication is expected to pass without a hitch. Naturally should the Senate vote by some miracle fail, Obama may be forced to scramble as his prepared and teleprompted remarks end up being completely useless. Watch what is hopefully the very last chapter of the farce (at least for another year) live here.

 

http://www.zerohedge.com/news/obama-address-nation-following-senate-vote-watch-live

A year, Durden?  It only took the USA six months. 

 

 

Which campaign slogan best represents the increase in debt?

A)  Change

B)  Hope

C)  Yes we can

D)  Winning the future

 

Thu, 01/26/2012 - 13:36 | 2100081 a growing concern
a growing concern's picture

E) America, fuck yeah!

Thu, 01/26/2012 - 14:41 | 2100382 tarsubil
tarsubil's picture

F) Don't worry everyone. Everything is bone!

Thu, 01/26/2012 - 13:05 | 2099942 Irish66
Irish66's picture

Don't you need people to vote, looks empty

Thu, 01/26/2012 - 13:06 | 2099946 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

They didn't need people to vote for the creation of the Federal Reserve.  That measure passed 2-1!

Thu, 01/26/2012 - 13:06 | 2099945 GeneMarchbanks
GeneMarchbanks's picture

Quick look at Europe!!!

Thu, 01/26/2012 - 13:07 | 2099949 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

Gold should be at $1900 here in a few days....

Thu, 01/26/2012 - 13:20 | 2100002 GeneMarchbanks
GeneMarchbanks's picture

Without the minute-by-minute threats from the S&P and minus the CNBC theater to create the illusion of a market, it all just seems kinda sad.

Thu, 01/26/2012 - 13:07 | 2099947 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

USA!  USA!!  USA!!!

Thu, 01/26/2012 - 13:25 | 2100022 GeneMarchbanks
GeneMarchbanks's picture

'Update: the Senate has failed to reject a bid to stop the debt ceiling hike. US now has $16.4 trillion in debt capacity.'

Go ahead... pop that champagne you've earned it.

Thu, 01/26/2012 - 13:33 | 2100066 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

But they voted no...did they need 2/3?  What just happened?

Thu, 01/26/2012 - 13:46 | 2100135 inkarri9
inkarri9's picture

The voted "no" on a resolution to stop the increase in the debt ceiling.

Thu, 01/26/2012 - 14:07 | 2100222 A Lunatic
A Lunatic's picture

So the sheeple see "NO" in the 10 second 5 o'clock news soundbite and go back to ipodding........or whatever it is they do.

Thu, 01/26/2012 - 14:43 | 2100390 tarsubil
tarsubil's picture

LOL, don't you love this? What a joke. They didn't want to do this until after the next election so you better believe they have no clue what they are doing. This is not part of any coherent master plan.

Thu, 01/26/2012 - 15:05 | 2100468 A Lunatic
A Lunatic's picture

 In return for their "no" votes, insider trading will be allowed to continue unabated.

Thu, 01/26/2012 - 13:07 | 2099950 AC_Doctor
AC_Doctor's picture

96-97 nooses of thick rope needed here.  Maybe spare 3-4 with some hope and visions for rebuilding America.

Thu, 01/26/2012 - 13:22 | 2100004 Pinktip
Pinktip's picture

...."big tall tree and a short piece of rope"........

CDB,  Simple Man

Thu, 01/26/2012 - 13:22 | 2100010 Schmuck Raker
Schmuck Raker's picture

Speaking of remodeling, some new carpet...

some sort of flames motif seems apropos.

Thu, 01/26/2012 - 13:48 | 2100143 Clueless Economist
Clueless Economist's picture

This country does not have the stomach to kill politicians.

Just look at the outpouring of grief when some politico/crook responsible for the screwing of this great country got shot in AZ.

Thu, 01/26/2012 - 14:45 | 2100398 tarsubil
tarsubil's picture

If you spare 2 or more, partisan bs will pop up the next day. Eagle Eye had it right. Best to just leave one.

Thu, 01/26/2012 - 13:12 | 2099951 Cognitive Dissonance
Cognitive Dissonance's picture

Where are the cheerleaders? Oh, that's right. They're all in the back rooms furiously pumping 'key' Senators.

Don't look now but........Thar she blows.

Titanic in 5 seconds.

http://www.youtube.com/watch?feature=fvwp&v=OuSdU8tbcHY&NR=1

Thu, 01/26/2012 - 13:26 | 2099995 Fred Garvin
Fred Garvin's picture

Bernanke in 5 seconds (5 seconds = $1,600,000.00 dollar increase in US debt)

http://www.youtube.com/watch?v=sGIevO3BNBA&feature=related

Thu, 01/26/2012 - 13:08 | 2099953 john39
john39's picture

as long as the russians and chinese continue to buy U.S. debt, everything will be ok...  oh wait...

Thu, 01/26/2012 - 13:08 | 2099957 Fred Garvin
Fred Garvin's picture

5 second synopsis of debt cieling resolution...

http://www.youtube.com/watch?v=sGIevO3BNBA&feature=related

Thu, 01/26/2012 - 13:11 | 2099966 Kaiser Sousa
Kaiser Sousa's picture

"dont stop til u get enough"

(hee, hee, hee!!)

Thu, 01/26/2012 - 13:12 | 2099970 NEOSERF
NEOSERF's picture

Can we have a chart of the rate of increase of the debt ceiling vs. the GDP of the US...this latest increase is 8% and seems to last less than 6 months...

Thu, 01/26/2012 - 13:22 | 2099972 LouisDega
LouisDega's picture

Debt ceiling, Schmedt ceiling, as long as the markets up. Now go to bed and leave me alone.

Thu, 01/26/2012 - 13:24 | 2100020 CrockettAlmanac.com
CrockettAlmanac.com's picture

I'd expect a guy who literally pulls money out of his ass to say something like that.

Thu, 01/26/2012 - 13:53 | 2100163 LouisDega
LouisDega's picture

Not me. Im broke. I have nothing

Thu, 01/26/2012 - 14:28 | 2100318 CrockettAlmanac.com
CrockettAlmanac.com's picture

Louis Dega carried his money roll in his rectum in order to smuggle it into French Guyana.

Thu, 01/26/2012 - 13:13 | 2099973 Derpmonger
Derpmonger's picture

Put your knee pads and goggles on boyz,  we are about to get showered with some trickle down.

 

 

Thu, 01/26/2012 - 15:07 | 2100475 TruthInSunshine
TruthInSunshine's picture

[The Bernank pisses on taxpayers & releases a statement reading "the economic outlook is ripe for episodic storm clouds and periodic showers."]

Thu, 01/26/2012 - 13:14 | 2099978 youngman
youngman's picture

It makes me sick to my stomach...I wonder if it makes them too....?????

Thu, 01/26/2012 - 13:15 | 2099981 drink or die
drink or die's picture

Gonna need more than $1.2T to fight the aliens.  The S.S. Krugman is going to cost $5T alone.

Thu, 01/26/2012 - 16:42 | 2100772 viahj
viahj's picture

can't we just duct tape a few space shuttles together?

Thu, 01/26/2012 - 13:16 | 2099985 CoconutPete
CoconutPete's picture

This must not be important- I haven't heard about it on the nightly news

Thu, 01/26/2012 - 13:26 | 2100028 CrockettAlmanac.com
CrockettAlmanac.com's picture

It's part of the Ron Paul blackout which was reinstituted after New Hampshire. Can't let the good doctor get a bump from reality.

Thu, 01/26/2012 - 13:18 | 2099993 Catullus
Catullus's picture

Any republican that votes for this should get no support at the RNC in Tampa. He or she should be booed royally for this. This is the year you get to tell them that theyre going to lose campaign support for this shit

Thu, 01/26/2012 - 13:20 | 2100001 drink or die
drink or die's picture

You appear to have missed all the republican debates where the audience was full of fat idiots cheering on more wars/debt after each candidate (sans RP) talked about blowing up other countries.  Since when has the republican party cared whatsoever about reducing debt in any fashion other than lip service?

Thu, 01/26/2012 - 13:26 | 2100029 Catullus
Catullus's picture

The people they let into the debates are significantly different than the people in the conventions and standing outside the debates.

Thu, 01/26/2012 - 13:28 | 2100034 CrockettAlmanac.com
CrockettAlmanac.com's picture

Ron Paul is the only office holder in the Republican race and he has voted against raising the debt ceiling for like the 27th time.

Thu, 01/26/2012 - 13:18 | 2099994 trampstamp
trampstamp's picture

funny how this debate at one point lowered our rating...

Thu, 01/26/2012 - 13:39 | 2100015 SheepDog-One
SheepDog-One's picture

Now it doesnt even make the news.

To me it just further shows how close it is to all blowing up.

Thu, 01/26/2012 - 13:20 | 2099997 AC_Doctor
AC_Doctor's picture

I guess who gives a shit because we are NEVER going to pay this back.  Might at well keep the party going until Obozo gets another term due to the lack of a decent presidential contenter other than Ron Paul who the media will do everything to keep him from getting elected.  Can't have an outsider for POTUS...btw, F B Obozo.

 

Thu, 01/26/2012 - 13:21 | 2100008 taniquetil
taniquetil's picture

As long as we spend the money building the USS Paul Krugman we'll create infinite billion jobs right?

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