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Treasury Adds Another $20 Billion In Debt Overnight, Just $160 Billion Below Revised Ceiling

Tyler Durden's picture




 

Ok, someone please explain this one to us because we must be a little slow. Wasn't the whole thing with the debt ceiling hike such that no more Congressional melodramas would have to be inflicted upon the population until after Obama [won|lost] the 2012 elections? Because according to the one again exponentially increasing debt balance of the US Treasury (there is another $51 billion in debt/cash coming in next week), the total US treasury balance (subject to the ceiling) is $14.54 trillion (and $14.58 trillion for total), an increase of $20 billion overnight, the Treasury will hit its latest ceiling no later than the end of September. As the latest DTS statement indicates, the debt ceiling now is $14.694 trillion: a number which Tim Geithner will hit in about a month. So if this is due to a planned expansion as part of the two step plan, we would like to understand how it works, because the $400 billion additional ceiling is barely sufficient to cover the catch up in funding for the SSN and the various governmental trust funds. And the far bigger concern is that tax receipts are about to plunge courtesy of the imminent double dip. So we wonder just based on what assumptions does the Treasury believe that its issuance needs will be met by this paltry debt ceiling.

 

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Mon, 08/08/2011 - 18:48 | 1539783 jdrose1985
jdrose1985's picture

Tax reciepts have nothing to do with the debt ceiling. They go directly to IMF accounts.

Mon, 08/08/2011 - 19:03 | 1539846 Ahmeexnal
Ahmeexnal's picture

Londonistan is burning.

The UK is the latest arab country to embrace the arab spring of revolutions.

About time the proles demanded regime change.

The queen must go.

Mon, 08/08/2011 - 19:21 | 1539914 Juan Wild
Juan Wild's picture

 

 

no future for you!

 

http://www.youtube.com/watch?v=MeP220xx7Bs

Mon, 08/08/2011 - 19:47 | 1539984 Spastica Rex
Spastica Rex's picture

John Lydon for President.

Tue, 08/09/2011 - 05:28 | 1541619 Ethics Gradient
Ethics Gradient's picture

I'd rather the wilfully ignorant and biblically stupid went.

The proles wanted socialism, they wanted non-jobs, they didn't care about the debt. They didn't want to be told they had failed an exam or be disciplined at school. Now they're left with a feeling of entitlement, no skills, national and personal debt, an iPhone, Sky and a large bill from phoning X-Factor.

Let them riot. Let them announce to the world that they are the underclass and their desires are to be ignored.

Mon, 08/08/2011 - 21:33 | 1540381 phungus_mungus
phungus_mungus's picture

That must of been one hell of a BBQ Obama threw for himself... 

Mon, 08/08/2011 - 18:49 | 1539787 mynhair
mynhair's picture

You are ignoring all those cap gains flowing into the Treas from NFLX sales.
Very bullish, as the off channels are ending their summer series.

Mon, 08/08/2011 - 19:18 | 1539905 fonestar
fonestar's picture

As the exponential function kicks in we should be able to enjoy much more debt ceiling melodrama.  Perhaps weekly, after General Hospital.

Mon, 08/08/2011 - 20:01 | 1540030 Almost Solvent
Almost Solvent's picture

Damn math.

 

Can't goD just make math do what we want it to so we can continue to enjoy life the way hE promised us we could!?

Mon, 08/08/2011 - 21:00 | 1540230 Idiot Savant
Idiot Savant's picture

That's why Bachmann or Perry must win the next election. They both have open lines with God and will solve the country's problems through prayer. /sarc/

Mon, 08/08/2011 - 21:09 | 1540275 HellFish
HellFish's picture

Well the first part of your name can be confirmed as accurate.

Mon, 08/08/2011 - 18:51 | 1539788 baby_BLYTHE
baby_BLYTHE's picture

in hyper-inflated dollars/digits.

Bernanke is pulling an all-nighter tonight, one Benny boy's biggest speeches of his career coming up. 

"Tail Risk" is spinning out of control. 

Mon, 08/08/2011 - 18:52 | 1539801 mynhair
mynhair's picture

Ummm, your tail spinning.
But I digress.

Mon, 08/08/2011 - 19:00 | 1539835 baby_BLYTHE
baby_BLYTHE's picture

so everything is fine then?

Bernanke to Ron Paul "Is Gold Money?"

 

"The reason people hold gold is protection against tail risk, really, really, bad outcomes. To the extent that the last few years have made people more worried about the potential of a major crisis, then they hold gold as a protection,"

 http://www.youtube.com/watch?v=2Dj9v9s9buk

The DOW has crashed over 2k and Gold has risen $145 since that testimony

Mon, 08/08/2011 - 19:32 | 1539944 mynhair
mynhair's picture

All is fine. TSA has the list of all TEA party members.

Mon, 08/08/2011 - 19:04 | 1539857 TheFourthStooge-ing
TheFourthStooge-ing's picture

Did you ever notice that, if he lost the beard, the Bernank would be a dead ringer for Jim Lahey, supervisor of Sunnyvale Trailer Park?

Just sayin'...

 

Mon, 08/08/2011 - 19:31 | 1539942 chubbar
chubbar's picture

Good point! I don't recall ever seeing them in the same room together either! Very suspicious!

Mon, 08/08/2011 - 19:52 | 1540000 TheFourthStooge-ing
TheFourthStooge-ing's picture

Sunnyvale Trailer Park Supervisor: "He's about to enter the shit tornado to Oz."

Sunnyvale Trailer Park Weekend Trailer Park Supervisor: "That would make Bernank Dorothy, right Mr. Lahey?"

 

 

Mon, 08/08/2011 - 20:02 | 1540033 Almost Solvent
Almost Solvent's picture

The trailer park called, they want their trash back . . .

Mon, 08/08/2011 - 18:52 | 1539802 EscapeKey
EscapeKey's picture

Can't he just recycle his QE1/QE2 speech? Seems bit of a waste of taxpayer money to write a whole new speech.

Mon, 08/08/2011 - 18:57 | 1539824 bigdumbnugly
bigdumbnugly's picture

i suppose he could.  he'd just have to speak three times louder.

Mon, 08/08/2011 - 20:24 | 1540086 Taku
Taku's picture

Unfortunately, they're off limits as there is a Senate probe into QE speech writing instruments and paper supplies used, to ensure efficacy of the message this next round.

Mon, 08/08/2011 - 20:43 | 1540174 RandomRick
RandomRick's picture

Unfortunately he recycled the paper from his speech to print more dollars.

Mon, 08/08/2011 - 19:00 | 1539837 legal eagle
legal eagle's picture

Kudos to you for not responding to the flirtation from every Tom Dick and Jeffrey. Stellar stoic baby blythe. Obviously a male dominated site.

Mon, 08/08/2011 - 19:20 | 1539911 Advoc8tr
Advoc8tr's picture

Nice ... the old double reverse psychology approach. 

Mon, 08/08/2011 - 21:38 | 1540400 RichardP
RichardP's picture

Do you know the gender of Baby Blythe??  I suggest you check.

Mon, 08/08/2011 - 22:00 | 1540498 baby_BLYTHE
baby_BLYTHE's picture

Suggest you revise yourself there, Brah

Mon, 08/08/2011 - 18:50 | 1539790 iinthesky
iinthesky's picture

Where's all the fiat going?

Mon, 08/08/2011 - 18:52 | 1539803 andybev01
andybev01's picture

Not Italy...

Mon, 08/08/2011 - 18:52 | 1539809 navy62802
navy62802's picture

Well, we may not know where it's going, but we know where it isn't going.

Mon, 08/08/2011 - 18:51 | 1539796 EscapeKey
EscapeKey's picture

Wasn't the whole thing with the debt ceiling hike such that no more Congressional melodramas would have to be inflicted upon the population until after Obama [won|lost] the 2012 elections?

That sounds like a job for SuperCongress (tm).

I picture a crack team of flying superhumans, all dressed in different colors, with techno music in the background as they're on their way to sort of the debt ceiling problems.

Mon, 08/08/2011 - 18:53 | 1539807 iinthesky
iinthesky's picture

They are so heroic... finally a super duper congress we can all look up to!

Mon, 08/08/2011 - 20:41 | 1540164 Anonymouse
Anonymouse's picture

We've need to bring back "Reagan's Raiders"

http://thewonderfulworldofstupid.blogspot.com/2011/05/reagans-raiders-2....

Reagan, Schulz, Bush, Weinberger all in spandex!

Mon, 08/08/2011 - 18:52 | 1539800 Caviar Emptor
Caviar Emptor's picture

We're converting to Log scale. The numbers will seem smaller to the sheeple. 

Mon, 08/08/2011 - 18:59 | 1539833 TheFourthStooge-ing
TheFourthStooge-ing's picture

Ok, someone please explain this one to us because we must be a little slow.

Phase 1: inhale chloroform

Phase 2: ???

Phase 3: PROFIT!

 

Mon, 08/08/2011 - 18:53 | 1539805 Piranhanoia
Piranhanoia's picture

It is, in fact the two step. Sometimes called the quick step. also the knee walk,  stain em', brownies,  plotchers, charcoal biscuit, fudgies.

They are popping out everywhere!

Mon, 08/08/2011 - 18:53 | 1539808 Piranhanoia
Piranhanoia's picture

I forgot logs

 

Mon, 08/08/2011 - 18:54 | 1539811 mynhair
mynhair's picture

I dread the WB7 spread on 'SuperCongress'. Probably will have cats and dogs living together.

Mon, 08/08/2011 - 18:56 | 1539814 legal eagle
legal eagle's picture

WTF with silver? Should be rising much higher by now.....

Mon, 08/08/2011 - 18:59 | 1539830 mynhair
mynhair's picture

Tell it to the miners. Dam.

Mon, 08/08/2011 - 20:30 | 1540132 nodhannum
nodhannum's picture

Well, you know by now...it only costs $5.00 to dig it out of the ground so whats the problem?

Mon, 08/08/2011 - 22:00 | 1540506 sullymandias
sullymandias's picture

Gold is the place to be. The money of Senators. Silver is for peasants. It's time will come when the dollar is too poor a currency even for peasants.

Tue, 08/09/2011 - 23:18 | 1545110 sullymandias
sullymandias's picture

Actually I think copper is for peasants. Silver is for the middle class.

I'll bet you copper becomes money again too. Silver will be too valuable to make into small change coins.

Mon, 08/08/2011 - 18:56 | 1539819 ForWhomTheTollBuilds
ForWhomTheTollBuilds's picture

Does anyone else here ever wonder what motivated the many ridiculous trolls we've endured over the last few years?  I do.

 

They had a level of tenacity that I don't think could be explained by masochism or the simple fun of poking angry people with a stick.  I think at least a few were finance industry workers who saw us calling out the damage their living causes to honest people and so they were here to defend their own sense of self (the Administrations reaction to S&P is a somewhat related bit of theater).

 

Posting online is my therapy today.  Where the hell is Cognative Dissonance when we need him?

Mon, 08/08/2011 - 19:24 | 1539921 Advoc8tr
Advoc8tr's picture

You don't need him .... I think your conclusions are pretty close to the mark.  Human Nature.

Mon, 08/08/2011 - 18:54 | 1539821 navy62802
navy62802's picture

Just repeat after me ... the USA is a AAA nation ... the USA is a AAA nation. If you close your eyes and repeat that phrase long enough, it'll become true!

Besides, it's like Greenspan said yesterday, the US will always be able to print enough money to cover its debt obligations. So if the chanting doesn't work, the printing press will also do the trick! And voila ...

Mon, 08/08/2011 - 19:02 | 1539848 Cheesy Bastard
Cheesy Bastard's picture

Repeating over and over again that you are solvent only works if you click the heels of your silver slippers together.

Mon, 08/08/2011 - 19:04 | 1539853 mynhair
mynhair's picture

Ommmmmmm, Denniger is a moron. Ommmmmmm, Denniger is a moron.

Just like the hero he voted for, he blames everyone else.

Mon, 08/08/2011 - 19:31 | 1539940 Citxmech
Citxmech's picture

Goolsby looked like he threw-up in his mouth when Greenspan let that gem fly!

Mon, 08/08/2011 - 19:39 | 1539966 Long-John-Silver
Long-John-Silver's picture

You must be wearing Ruby Red Shoes and click them three times while saying that.

OH! Watch out for the flying monkeys!

Mon, 08/08/2011 - 20:31 | 1540138 nodhannum
nodhannum's picture

Do we have to click the ruby or is it the "traditional" slippers first?

Mon, 08/08/2011 - 19:00 | 1539839 lolmao500
lolmao500's picture

Obama just raises the debt ceiling till he can't (+2.4 trillion) the only thing that can stop him is a 2/3 vote in both senate and house.

Mon, 08/08/2011 - 19:05 | 1539855 chump666
chump666's picture

Point is, the USD is still at risk aversion buy. That won't last at all, if Bernanke does a QE3 (he has gotta do at least one trillion), and oil hasn't broken into the mid 70's (or lower). If it goes bid back to $90. He and the Fed will send a wave of oil inflation to the crippling economies of the EZ and 100% guarantee that China inflation crash. Totally doomed scenario.

 

As far as tax receipts, yes they will have to bring forward tax hikes very,very soon, otherwise any money printing (inflation) will eat up what's left. The US govt will be looking at broke alley again

Total FUBAR

 

Mon, 08/08/2011 - 19:16 | 1539893 Religion Explained
Religion Explained's picture

But I hear there is not enough income to tax to plug the hole, even at confiscatory levels.

Mon, 08/08/2011 - 19:08 | 1539869 mynhair
mynhair's picture

Gold only up almost $3? Trash that POS $!

Tue, 08/09/2011 - 00:06 | 1541135 StychoKiller
StychoKiller's picture

$1764/Toz != $3 increase

Mon, 08/08/2011 - 19:09 | 1539870 ffart
ffart's picture

What I don't get is, how does the market keep ending up making the dumbest possible decisions about everything. The US debt rating is downgraded, so everybody let's into... TREASURIES??! The dollar is virtually at all time lows, so let's cash hoard in USD? Even the sudden flight into gold seems kind of dumb. Why would the state of the economy, just now, be making gold rise $100USD a day? Something is going to snap pretty soon.

Mon, 08/08/2011 - 19:12 | 1539884 mynhair
mynhair's picture

You must never talk to Liberals.

Mon, 08/08/2011 - 19:17 | 1539900 Religion Explained
Religion Explained's picture

Well, where you gonna park billions real quick? BoA? Ha Ha...wait I have a checking account with those guys ...

Mon, 08/08/2011 - 19:23 | 1539918 Catullus
Catullus's picture

Don't tell Krugman you can still use USTs as collateral. His head might explode.

Mon, 08/08/2011 - 19:55 | 1540008 Spastica Rex
Spastica Rex's picture

I asked my wife to take our last $7K out of BoA (Her bank account, our money - Washington, community property state) last Thursday. Then I told people my wife is trying to start a bank run.

Mon, 08/08/2011 - 20:04 | 1540040 Almost Solvent
Almost Solvent's picture

Community property is such a quaint idea. 

Tue, 08/09/2011 - 00:08 | 1541139 StychoKiller
StychoKiller's picture

You remind me of that naughty Mr. Appleton, from National Lampoon comic strips!

Mon, 08/08/2011 - 19:09 | 1539873 disabledvet
disabledvet's picture

Hedge fund heaven. Missed David Goldman's interview on Bloomberg this AM. Just in time for an exclamation point on the second leg down from IOU'ville. We really will see what the government will do. Awful lot of mines and when you walk into the field and suddenly realize this fact--you don't just start running of course.

Mon, 08/08/2011 - 19:09 | 1539877 NotApplicable
NotApplicable's picture

Let's see, "about a month" is right around Labor Day, with the 10th anniversary of 9/11 approaching.

Seems like as good a time as any to maximize the pain. Add in some riots and a few false-flag events, and someone might manage to spark the prairie fire.

Mon, 08/08/2011 - 19:11 | 1539879 mynhair
mynhair's picture

It would be nice to have a job where you can only get fired every 4 years.

Mon, 08/08/2011 - 19:12 | 1539882 max2205
max2205's picture

A- coming

Mon, 08/08/2011 - 19:13 | 1539886 max2205
max2205's picture

Tea Party has eliminated any pre election year rally by closing the purse. Sweet

Mon, 08/08/2011 - 19:17 | 1539899 mynhair
mynhair's picture

Dam terrorists fail to fall for the propaganda. Off with their heads!
If Odummer had a brain, he'd supply us all with hookers, though those Lib Fems are butt ugly.

Mon, 08/08/2011 - 19:23 | 1539917 Religion Explained
Religion Explained's picture

Why are so many libs butt ugly? You spot them in a crowd 90% of the time. Try it, or if you're shy, just guess the affiliation of congressmen interviewed on TV before they announce who they are. It works good!

Mon, 08/08/2011 - 19:58 | 1540019 Spastica Rex
Spastica Rex's picture

Right. That's how the Repubs snag all the hot male pages.

Mon, 08/08/2011 - 21:07 | 1540262 Religion Explained
Religion Explained's picture

You must be ugly ...

Mon, 08/08/2011 - 19:19 | 1539909 mynhair
mynhair's picture

Levin reading the SEC definition of a Ponzi scheme.
Now we go through all 'functions' of Goobermint.
Need more beer.
uurrrpppp

Mon, 08/08/2011 - 19:27 | 1539927 Juan Wild
Juan Wild's picture

Timmah, we got your truckload of gerbils here. Open bomb-bay doors immediately!

Mon, 08/08/2011 - 19:29 | 1539934 Worker Bee
Mon, 08/08/2011 - 19:31 | 1539937 lawton
lawton's picture

http://yfrog.com/0wtduz

 

London is getting crazy...

Mon, 08/08/2011 - 19:32 | 1539943 rlouis
rlouis's picture

The Dems may not be as smart as they think they look (Repugs too) - especially worrisome since most of them are the products of the same public school system that can't teach 30% (guesstimate based on inner city literacy/high school grad rates) how to read.

Mon, 08/08/2011 - 19:34 | 1539948 nmewn
nmewn's picture

"because the $400 billion additional ceiling is barely sufficient to cover the catch up in funding for the SSN and the various governmental trust funds."

Debt ceiling mambo.

Mon, 08/08/2011 - 19:34 | 1539950 mynhair
mynhair's picture

'DHS announces Plan to Track ATM gasoline Purchases'

- more to follow, DJ News

Mon, 08/08/2011 - 19:45 | 1539978 lolmao500
lolmao500's picture

Link!

Mon, 08/08/2011 - 19:56 | 1540015 Atomizer
Atomizer's picture

Oh Fuck, used cash and hording 58 gallons (28g Lincoln navigator & 30g for Lincoln Mark LT) of premium grade gas in my garage. My SPR has been found out. Must turn myself into the DHS in morning. LOL

Mon, 08/08/2011 - 19:41 | 1539968 Dr. Gonzo
Dr. Gonzo's picture

The Tea Party is gonna go ape shit. 

Mon, 08/08/2011 - 19:41 | 1539971 mynhair
mynhair's picture

I luv England.  Proof positive of how useful gun control is.

Mon, 08/08/2011 - 19:48 | 1539987 Hansel
Hansel's picture

50 days after Obama's Aug 2 request to raise the ceiling, the debt ceiling automatically increases by another $500 billion as long as Congress does nothing.  Just FYI.

Mon, 08/08/2011 - 19:49 | 1539989 jmac2013
jmac2013's picture

Debt is being used as a weapon to destroy social spending by governments, weaken democratic instututions and enslave the masses with a heavy financial burden.  It's been used that way in the 3rd world for at least a few decades now, and it's arrived to the first world (see US, Greece, Ireland, Iceland, England, and soon everywhere else).  Everything else is just theatre.  Problem, Reaction, Solution.  Too much debt to service, financial meltdown, cut social spending by governments around the globe so that more can go to pay bankers and the "investment class".

Mon, 08/08/2011 - 19:59 | 1540023 Spastica Rex
Spastica Rex's picture

+

Mon, 08/08/2011 - 20:05 | 1540046 PenGun
PenGun's picture

 Bob is not pleased.

Mon, 08/08/2011 - 20:05 | 1540044 zorba THE GREEK
zorba THE GREEK's picture

They take our money and bail out banks who lend us back our 

money and if we don't pay them back on time, they take everything else we have 

or ever will have in the future making us their debt bitches.....hmmmm....

What's wrong with this picture?

Tue, 08/09/2011 - 01:45 | 1541473 dolly madison
dolly madison's picture

+

Mon, 08/08/2011 - 19:50 | 1539996 saulysw
saulysw's picture

I think the #DIV/0! error will be discovered, and the ceiling will move up to where it "should be". Still, it's fun to watch. After all, if S&P can be off by $2T, why can't the USG?

Mon, 08/08/2011 - 20:02 | 1540035 tom a taxpayer
tom a taxpayer's picture

Tyler -  The Budget Control Act of 2011 allows the President to request a further increase of $500 billion, according to this excerpt from Wiki. The President's request for $500 billion would stir up the hornets nest, but the path to the $500 billion would seem to be well-greased by this Act.  

 

Debt limit:

  • The debt limit is increased by $400 billion immediately.[2]
  • The President may request a further increase of $500 billion, which is subject to a congressional motion of disapproval which the President may veto, in which case a two-thirds majority in Congress would be needed to override the veto. This has been called the 'McConnell mechanism' after the Senate Minority Leader, who first suggested it.[3]
  • The President may request a final increase of $1.2–1.5 trillion, subject to the same disapproval procedure. The exact amount depends on the amount of cuts in the "super committee" plan if it passes Congress, and whether a Balanced Budget Amendment has been passed.

http://en.wikipedia.org/wiki/Budget_Control_Act_of_2011

 

Here's a link to the Act, for those who may want to ferret out the details. I started to read the Act but puked on the sickening obfuscating text.

http://www.gpo.gov/fdsys/pkg/BILLS-112s365enr/pdf/BILLS-112s365enr.pdf

Mon, 08/08/2011 - 20:45 | 1540181 Anonymouse
Anonymouse's picture

Thanks for that.  No doubt the $500B will sail through.  Very few will have the guts to vote against it.  Tea Party Caucus should start gearing up for a battle after that though.  You know the Super-De-Dooper Congress plan is going to be a complete waste (and only suitable for wiping that waste)

Mon, 08/08/2011 - 21:13 | 1540289 zorba THE GREEK
zorba THE GREEK's picture

To expound on that amount, if you look in the 2011 budget, you will see

that.......oh.. that's right, we don't even bother having a budget anymore.

Probably because Congress doesn't have even have one stinken accountant

that could draw one up, on the other hand if you need a lawyer just make a

sound like an ambulance and stand back.

Mon, 08/08/2011 - 20:02 | 1540037 electronpaul
electronpaul's picture

The populace is just going to LOVE the political class if this mess is brought up again in one month!!!! LOL

Mon, 08/08/2011 - 20:05 | 1540045 electronpaul
electronpaul's picture

Ron Paul 2012, spread the word, do your portion, Jerry....

Mon, 08/08/2011 - 20:13 | 1540065 Cthonic
Cthonic's picture

Summary of ceiling increases, this is first installment.

-- Passage of the proposal would give President Obama authority to immediately increase the debt by $400 billion. It also establishes procedures to raise the debt ceiling by an additional $500 billion as soon as September for a total of $900 billion.

http://articles.latimes.com/2011/aug/01/news/la-pn-debt-highlights-20110801

Mon, 08/08/2011 - 20:14 | 1540068 Atomizer
Atomizer's picture

Good news, our mooncricket/muslim community organizer will face the debt ceiling music during his 2012 election campaign. He will become a one term president.

Mon, 08/08/2011 - 22:37 | 1540697 Rhodin
Rhodin's picture

This is good news because??  Are you suggesting they will let the next one improv instead of reading the prompter?  Then I might have to listen :-(

Mon, 08/08/2011 - 20:25 | 1540114 vegas
vegas's picture

Hope & Change. What could possibly go wrong?

Math is hard; so says the community organizer.

Mon, 08/08/2011 - 21:18 | 1540308 silvertrain
silvertrain's picture

yikes, somebody is gonaa have to hit the fastcash payday lender..Or cash for gold...

Mon, 08/08/2011 - 21:23 | 1540331 slewie the pi-rat
slewie the pi-rat's picture

this isn't fair.  tyler is s'posed to explain this stuff to us.  does this mean waterfallsparkles won the bet?

what the hell is going on, here?

Mon, 08/08/2011 - 21:26 | 1540342 BlackholeDivestment
BlackholeDivestment's picture

Treasury ...full of corruption, such a peculiar sight to witness at such an unusual time. Man there are a ton of event's converging all at once. http://www.youtube.com/watch?v=_fJNnq4-dEI&feature=related

Mon, 08/08/2011 - 21:36 | 1540393 drawswell
drawswell's picture

We are treading on new, uncharted thin ice

Mon, 08/08/2011 - 22:06 | 1540539 dbTX
dbTX's picture

So many teachable moments; so little time

Mon, 08/08/2011 - 22:12 | 1540571 ThirdCoastSurfer
ThirdCoastSurfer's picture

Thanks for the link, Tom! Wow!  The 'pubs even got the "Joint Resolution of Disapproval" 

As I read it, if the Joint Resolution of Disapproval passes within 50 days of the $500 or 15 days of the $400, then no amount beyond that $400 can be approved -regardless of what the Super Congress decides.

Mon, 08/08/2011 - 23:16 | 1540916 Grand Supercycle
Grand Supercycle's picture

THE S&P 500 MONTHLY CHART THAT FORECAST THE CRASH.

Further downside expected.

http://bit.ly/x618

Tue, 08/09/2011 - 02:45 | 1541536 Peter K
Peter K's picture

On what assumption you ask?

Based on the empirically proven fact that Mathamatics is Racist ;)

Wed, 09/14/2011 - 05:10 | 1667524 chinawholesaler
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