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US Debt Ceiling D-Day: September 14, 2012

Tyler Durden's picture


Earlier today, outgoing Treasury Secretary and tax challenged part-time pathological liar (see here) Tim Geithner said that any worries of the US debt ceiling are misplaced, and that at best such an event would occur "late in the year" (and to think the August 2011 extended $16.394 trillion debt ceiling was supposed to last well into 2013). Naturally, coming from Geithner, it meant this statement was a flat out lief the second it left his mouth, which is why we decided to do our own analysis of just when the latest and greatest debt ceiling would be breached. The answer is that at the current rate of debt issuance, which incidentally is going to accelerate sharply due to the recent extension of the payroll tax cuts which will require an incremental $100-150 billion total debt to be funded, and extrapolating future issuance solely on historical patterns, the US debt ceiling D-Day will be September 14, 2012. This means that there will be just over 6 weeks for the GOP to hijack each and every presidential debate before the November election with just this topic. Because there will hardly be anything more humiliating for Obama than to have to defend his platform even as the country is once again past the verge of insolvency, and forced to "commingle" retirement funds to keep Treasury operations running. Which incidentally is just as we predicted would happen when we explained why the GOP fast shelved the payroll tax debate so rapidly. It was nothing but a prelude to precisely this. Because once it is raised, and it will be raised of course, next up will be yet another ratings downgrade by S&P and this time, Moody's as well. All of which will most likely happen before November.


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Wed, 03/28/2012 - 17:44 | 2298735 Sudden Debt
Sudden Debt's picture

I see.... I see.... A TRENDLINE!!

I guess Obama will need to be more flexible after the elections because if they throw him in the white house dumpsters he'll need to BEND LIKE BECKHAM if he doesn't want to break his neck!

And if he does get reelected...(my god) he can always lend more money from his Russian mob friends.

Wed, 03/28/2012 - 18:08 | 2298852 RiotActing
RiotActing's picture

Dude, where have you been? Obama is a JP Morgan lock... IF ha!

Wed, 03/28/2012 - 18:18 | 2298879 knukles
knukles's picture

Why did Tyler call Geithner "outgoing"?
He always impressed me as a sort of shy fellow. 
Kind of nervous; almost insecure as a matter of fact....

Wed, 03/28/2012 - 18:26 | 2298910 Tom Servo
Tom Servo's picture

I think "outgoing" means that he's got one foot out the door.  GTFO TIMMEH, you've done enough already, you no talent assclown.

Wed, 03/28/2012 - 18:41 | 2298955 cossack55
cossack55's picture

One foot in the grave would be a happier ending.

Wed, 03/28/2012 - 21:18 | 2299270 Chump
Chump's picture

And we interrupt this broadcast to mourn the passing of one of the most innovative and legendary musicians this world has seen.

I weep, but Earl, you are with your wife and son, and Lester, and the entire host of the Angel Band.

I could go on and on but I've threadjacked enough.  You will be missed, always, Earl Scruggs.


Wed, 03/28/2012 - 21:50 | 2299336 BlackholeDivestment
BlackholeDivestment's picture

Awe man, bummer. Earl was great. I got a chance to spend some time with Earl. He came through D.C. with Ricky Scaggs and Doc Watson, after doing a gig, think it was 02 or 03. He was looking prettty well along then. Seemed like he had diabetes to me but, I did not talk to him about that. Just told him how much I and all the people I know love his playing. He gave me an autograph, which I gave to a friend as a gift. 

  Can't wait to see him again soon, when he wakes up.

Wed, 03/28/2012 - 22:24 | 2299410 Chump
Chump's picture

Thanks so much for sharing that.  He changed my life.  Another song from that session (Soldier's Joy - The Three Pickers) is what convinced me to pick up the banjo.  I will forever be following in his footsteps.

Wed, 03/28/2012 - 22:13 | 2299373 Caviar Emptor
Caviar Emptor's picture

Great musician and composer

Wed, 03/28/2012 - 18:38 | 2298946 nmewn
nmewn's picture

I remember the meme of how Timmah was the only one who could save us...every pol within sprinting distance of an MSM microphone told us so...Give Us Timmah or Give Us Death!...or some

The only one who understood intimately, these "very complex financial instruments"...was, Turbo Tax Timmah!

I just don't see what's so hard about callin up Ben and telling him to warm up the presses he's gotta go scare the crap out of granny again.

Eat your peas!

Wed, 03/28/2012 - 19:15 | 2299046 jeff314
jeff314's picture

live in lie timmahhhhh

Wed, 03/28/2012 - 20:05 | 2299138 ChrisFromMorningside
ChrisFromMorningside's picture

That's because the typical U.S. Congressperson is a complete and utter moron when it comes to finance and money. The average ZeroHedge reader easily understands the U.S.'s macro financial structure far, far better than 95% of Congress. I say that in all seriousness. I am not trying to be hyperbolic. The politicians just want to pass the buck. They know they're too stupid to truly understand what's going on, let alone offer a solution, so they pass the responsibility onto someone else, which also gives them an out if and when (when!) it all goes to pieces.


Wed, 03/28/2012 - 21:32 | 2299291 Chump
Chump's picture

They know how to pass legislation.  That's it.

Please note, that doesn't mean they know how to read it.

Wed, 03/28/2012 - 22:09 | 2299365 BoNeSxxx
BoNeSxxx's picture

Having worked in Congress for five years during my early career, I can tell you that your comment is more accurate than you may think.

On the committee level, they are pretty well versed in the issues but that's where it stops for most of them.

Each morning, the parties put out their vote recommendations (down to the amendment level) and most Congressmen follow the script unless their district (or they personally) have something to lose by following the recommended vote.

What little reading is done by staff or supplied in summary form by the parties or committee chair.

Granted, it would be near impossible to read every bill but one need look no farther than the NDAA to see that, even when considering critical legislation, there are many who enjoy the warm darkness that having their heads up their arses provides.

Wed, 03/28/2012 - 21:18 | 2299268 peekcrackers
peekcrackers's picture

"Treasury Secretary and tax challenged part-time pathological liar"

 I raise my glass of scotch to that tyler!

here here...

Wed, 03/28/2012 - 22:13 | 2299379 hairball48
hairball48's picture

He's a shifty-eyed lil weasel fucker is what Timmay is. I never trust anyone who won't look you directly in the eye!

Wed, 03/28/2012 - 20:02 | 2299133 Freddie
Freddie's picture

Hope & Change

Wed, 03/28/2012 - 20:34 | 2299187 Chief KnocAHoma
Wed, 03/28/2012 - 18:25 | 2298904 Hal n back
Hal n back's picture

They will just not fund federal pensions or borrow from federal pensions or social security--check that--Clinton already borrowed from social security trust fund.

Or they just cook the books.

Wed, 03/28/2012 - 19:49 | 2299108 POpatriot
POpatriot's picture

Beautiful!  The current administration is obviously terrible at math.  The projected debt ceiling debate date is no different.  LOVE IT!!!  The few luxuries of having our current administration's expertise in community organizing.  

Wed, 03/28/2012 - 20:08 | 2299142 ChrisFromMorningside
ChrisFromMorningside's picture

Some people are getting it.

New Zealand Herald: Now is the time to de-Ponzi our pensions

Wed, 03/28/2012 - 18:28 | 2298915 Terra-Firma
Terra-Firma's picture

The USA has helicpoter Ben, Canada has tracker trailer bob....

Millions of dollars in coins and a shipment of candy have been scattered across an Ontario highway following the crash of Brink's tractor-trailer that seriously injured two people.

Police say both of the men who were in the Brink's truck are in hospital with life-threatening injuries.

The crash happened around 4 a.m. this morning on Highway 11, north of Kirkland Lake in northeastern Ontario, when the truck collided with a rock face.

Ontario Provincial Police say the crash also caused a number of chain-reaction crashes, but the injuries were minor.

One of the trucks involved in the resulting crashes was carrying candy, police say.

That candy along with $3- to $5-million worth of loonies and toonies are on the road and in the surrounding bush.

The highway has been closed by police, who are essentially standing guard.

It will be several hours before it re-opens.

Wed, 03/28/2012 - 18:36 | 2298940 SAT 800
SAT 800's picture

The highway has been closed by Police; who are essentially picking up huge piles of money and stashing it, so they can come back later and pick it up.

Wed, 03/28/2012 - 18:50 | 2298987 dark pools of soros
dark pools of soros's picture

3-5 million?? Ben would cook that up on a cocktail napkin instead of printing that chump change

Wed, 03/28/2012 - 17:48 | 2298740 DormRoom
DormRoom's picture

pretty sure debt jubilee will be announced in 2013, once China has been contained (already dozens of army bases surround her), and the US controls the Strait of Hormuz oil.

 The US has never exercised austerity, and anytime it confronts it, it goes to war.  just sayin'. 

Wed, 03/28/2012 - 18:44 | 2298961 AL_SWEARENGEN

Debt jubilee will be announced, one way or another.

Wed, 03/28/2012 - 19:45 | 2299098 Zero Govt
Zero Govt's picture

probably the other 

but if we're looking for some comedy in these grizzly debt proceedings will 'Super Committee' be called upon to (not) perform again?

I hope Superman sues the politicians for trashing the word as well as the country

Wed, 03/28/2012 - 20:01 | 2299129 AGuy
AGuy's picture

Julibee happens when the dollar is worthless and the USA transformes into the DSA - Divided States of America.


Wed, 03/28/2012 - 20:57 | 2299234 Ned Zeppelin
Ned Zeppelin's picture

There will be no debt jubilee unless the Rebels succeed. The Empire will enforce all fiat debts at gunpoint.

Mark it.

Wed, 03/28/2012 - 20:34 | 2299184 ChrisFromMorningside
ChrisFromMorningside's picture


Debt jubilee is inevitable. War is probably inevitable at this point (at the very least, VERY LIKELY). The U.S. political class will do ANYTHING to prevent austerity. Austerity would compromise their power. Money is just a means to an end. Power is their goal.

Don't know if I agree that China will be "contained" by 2013 however. Potential black swan event(s) -- domestic political unrest within the Chinese Communist Party that shakes up leadership. Namely, we're talking about populist factions within the PLA that are unhappy with the pro-Western technocratic clique that dominates the party currently.

Bloomberg: Wen warns of potential second Cultural Revolution -

In the absence of political change, Wen said China risked a repeat of the 1966-76 Cultural Revolution, which threw the nation into chaos as Chairman Mao Zedong's Red Guards attacked the party apparatus and persecuted millions of people.


Wen’s warnings on the dangers of returning to the chaos of the Cultural Revolution contrast with the policies of Chongqing Communist Party Secretary Bo Xilai, who has encouraged a resurgence of Mao-era songs and sayings to broaden his appeal to ordinary Chinese who feel bruised by 30-plus years of modernization.

Asia Times: Rumors of coup in Beijing are result of growing economic divide -

The coup canard-mongers contended that the PLA had decided to intervene on behalf of Bo and his neo-Maoist comrades against the "Shanghai leadership faction", which had been steering China's economic reform juggernaut after the demise of Deng Xiaoping in the early 1990s.

While the PLA is not entirely pro-Maoist, there are senior figures within the Chinese military who share Bo's ideology of rejecting "capitalist roaders" and reversing the party's adoption of partial free market strategies.

Bo's reputation in Chongqing was forged in a merciless "strike hard" campaign against corporate malpractices and white collar crimes that are on the rise across China in the wake of dozens of new billionaires being minted every year.

Ambrose Evans-Pritchard on the rise of young, nationalist officers within the PLA -

“The young officers are taking control of strategy and it is like young officers in Japan in the 1930s. They are thinking what they can do, not what they should do. This is very dangerous.

“They are on a collision course with a US-dominated system”.

Anyone who thinks that China's course for the next decade has been charted is about to get a rude awakening. When (not if) China has to undergo its own bout of contraction and deleveraging, the Shanghai clique will lose (some) power and that vacuum will be filled by the PLA. Western markets are going to shit their pants when they see young, nationalist, populist, anti-U.S. PLA officers playing a much greater role in policy making and, at the moment, no one is expecting it.

Wed, 03/28/2012 - 21:26 | 2299280 akak
akak's picture

Running dog nose-pickingism!

Wed, 03/28/2012 - 17:45 | 2298750 asteroids
asteroids's picture

When does CONgress retire for the election period?

Wed, 03/28/2012 - 17:51 | 2298780 dwdollar
dwdollar's picture

Probably after they give themselves another pay raise.

Wed, 03/28/2012 - 18:44 | 2298960 nmewn
nmewn's picture

And...tuck that Cannot Convict a Congresscritter for Insider Trading Rule back in some boring piece of legislation that no one bothers to read.

Wed, 03/28/2012 - 17:45 | 2298752 suckerfishzilla
suckerfishzilla's picture

Excellent timing!  Too bad Romney is from the same ball of wax. 

Wed, 03/28/2012 - 18:26 | 2298906 Dr. Acula
Dr. Acula's picture

Romney = albino Obama


Wed, 03/28/2012 - 18:33 | 2298934 meetired
meetired's picture


Wed, 03/28/2012 - 20:05 | 2299139 Freddie
Freddie's picture

Supposedly Romney and Obama are JP Morgan puppets.  Ron Paul is so buddy buddy with Romney that he is probably one too.   Maybe Santorum is a little better. 

Wed, 03/28/2012 - 17:47 | 2298758 Sudden Debt
Sudden Debt's picture

Actually.... Why not declare A ANUAL NATIONAL DEBT BREACH DAY?
5th of July kind of thing, you know, with fireworks and all?

Wed, 03/28/2012 - 17:51 | 2298783 ISEEIT
ISEEIT's picture


Freudian slip or a personal kink?

Wed, 03/28/2012 - 18:35 | 2298935 meetired
meetired's picture

What do expect from a crazy potato, for which English is a second language?

Then again....

Wed, 03/28/2012 - 18:39 | 2298945 SAT 800
SAT 800's picture

It all makes perfect sense if you're a Walloon, and speak Flemish. (I'm not making this up).

Wed, 03/28/2012 - 17:50 | 2298775 ISEEIT
ISEEIT's picture

This Tyler doesn't spell very well.

But he/she is still correct.:)

Wed, 03/28/2012 - 22:17 | 2299389 UP Forester
UP Forester's picture

2003?  Wasn't the economy "growing" at that time?

This really does mean we're in a recovery!

Thu, 03/29/2012 - 00:03 | 2299604 Chump
Chump's picture

Yep.  So buy my house.  Many thanks.

Wed, 03/28/2012 - 17:55 | 2298777 bob_dabolina
bob_dabolina's picture

I think the funny thing is that Obama thinks he's doing a good job.

He has botched his Presidency so bad, and indebted our country so far it has crossed the rubicon of rationality.

He has fucked our country up, trampled the constitution seemingly every day, and doesn't act the roll (or his family) Ever see Michele strolling out wearing some shit that looks like it came from some Tribe in Somalia - have some fucking class for christ sakes.

Not like the Congress or Senate are much better.

One last thing. FUCK TRAYVON MARTIN. Welcome to planet Earth people, we fuckin' eachother. Like this is the first victim of violence people have ever heard about. Shut the fuck up and grow up people.

Wed, 03/28/2012 - 17:59 | 2298812 mr. mirbach
mr. mirbach's picture

The TRUTH about Obama:   As per NWO puppet master marching orders, Obama IS doing a good job! 

Wed, 03/28/2012 - 18:17 | 2298877 Buckaroo Banzai
Buckaroo Banzai's picture

Well, Barry's mentor is Bill Ayers, convicted terrorist who has spent his entire life trying to bring down the USA. Looks like Bill picked the right horse to back.

Thu, 03/29/2012 - 02:10 | 2299742 CompassionateFascist
CompassionateFascist's picture

Shabbatz Goy Ayers is nothing. The cop-killing, bomb-thowing Jew wife (now a "Distinguished Professor of Law") whispers in Bill's ear, then he picks up the phone and calls Obama. U.S. is run by Zionist banksters...and a Red Jewess.

Wed, 03/28/2012 - 18:18 | 2298881 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

I get the feeling that there are two factions of the Global Cabal at work.  One, Obama's Puppet Masters, who want to destroy America before the Great Reset.  The other:  those Globalists who even though they want to stay rich and fat know that the best way to do so is to keep America somewhat intact. 

It seems that these two scenarios, where either the Muppet Americans get the crumbs or they don't, have the Globalits at a war of words.  Of course, this is a period of time, while the two Global Factions bicker over turf, where we can create some stability in our lives.  We can do that by educating others and spreading the word, as we all know, and we can do it by maintaining our purchasing power, our wealth; we can do this by buying precious metals, which in their real form, by definition, are money.  And along the way, it may, or may not, depending on the level of manipulation, squeeze the Globalists Banking Houses just enough so that when the GLobal Reset does occur, we are the ones left holding the pieces to remake our culture and society.

Wed, 03/28/2012 - 20:41 | 2299198 trying to make ...
trying to make sense of it all's picture

+100 MLH.. I read ZH several times a day and have grown increasingly tired of the "sheeple" comments. Two years ago I began gently talking to members of my family to start preparing for potential collapse. They laughed me off and tolerated my family discussions. 3 weeks ago, my oldest brother called me proudly declaring he cashed in his CD and bought PM's. Today, my 60 yr old sister called to tell me she bought 2 whole ounces of silver. it's a start folks. Be patient and keep educating.

Wed, 03/28/2012 - 20:53 | 2299221 QQQBall
QQQBall's picture

Let me know when the last holdout buys PMs... I wanna starting let some out.

Wed, 03/28/2012 - 21:03 | 2299243 trying to make ...
trying to make sense of it all's picture

3 to go

Wed, 03/28/2012 - 21:01 | 2299242 Ned Zeppelin
Ned Zeppelin's picture

Those who blame Obama and think the Republicans are better are clueless fools.  They are both the same - different flavors of the same ice cream. Are you voting for Mittbama or O'Romney this fall?

Wed, 03/28/2012 - 22:22 | 2299409 Freebird
Freebird's picture

Golden Bullet Bitchez. Anyone not understand elementary economics aside from Ben the Ridiculous Buffoon?

Wed, 03/28/2012 - 18:10 | 2298858 tsx500
tsx500's picture

+++ on Trayvon Martin !  when i saw how a  F*****G UNITED  STATES CONGRESSMAN acted today, i nearly threw a brick thru my tv .......         incredible .   god help us !

Wed, 03/28/2012 - 18:44 | 2298963 cossack55
cossack55's picture

Actually Bobbie was the only CONgressman dressed as the gangsta thugs they are.

Wed, 03/28/2012 - 22:20 | 2299403 UP Forester
UP Forester's picture

And here I thought Hank Johnson was a dipshit....

Wed, 03/28/2012 - 18:54 | 2298998 SAT 800
SAT 800's picture

Very interesting; Affirmative Action has got a lot to answer for, alright.

Wed, 03/28/2012 - 19:37 | 2299089 nmewn
nmewn's picture

And of course, Bobby Rush has a long history, how should I say this...ebony feline acquaintances.

Ahhh...memories ;-)

Wed, 03/28/2012 - 20:19 | 2299163 meetired
meetired's picture

Friggin racist cat reference.

Wed, 03/28/2012 - 20:45 | 2299205 nmewn
nmewn's picture


We know what Rep. Bobby Rush was before cleaning up his litter box...a Black Panther...the new born kittens around here, prolly don't ;-)

Wed, 03/28/2012 - 21:04 | 2299246 Ned Zeppelin
Ned Zeppelin's picture

Bottom line: Zimmerman was a rascist vigilante thug looking to kill him a n_gger. He got his wish.  Now, it's off to jail, crazy man. 

Wed, 03/28/2012 - 22:45 | 2299460 nmewn
nmewn's picture

Over zealous...maybe.

I don't know if someone can be called a racist for being stupid...if that were the case DC is pretty well ground zero ;-)

The Black Panthers and Spike Lee ain't helping any...we should be torqueing it down instead of firing people up...we still don't know if Tray turned on him for following him as one witness implies.

It needs to work itself out instead of people freaking out...we'll find out soon enough.

Thu, 03/29/2012 - 02:13 | 2299753 CompassionateFascist
CompassionateFascist's picture

Whatever. That's about 6 Whites Tray-von didn't live to kill.

Thu, 03/29/2012 - 00:08 | 2299607 Chump
Chump's picture

I'm glad you investigate and prosecute from the comfort of your living room.

Wed, 03/28/2012 - 18:11 | 2298860 SanOvaBeach
SanOvaBeach's picture

So has "da bushie" and that jerk Ronnie!  Your a fuck'in idiot/moron!

Wed, 03/28/2012 - 18:50 | 2298981 meetired
meetired's picture

Missed an 'm' in your tirade.

Wed, 03/28/2012 - 18:49 | 2298979 nmewn
nmewn's picture

"I think the funny thing is that Obama thinks he's doing a good job."

A solid A- Oprah!!!

Oprah: “What grade would you give yourself, for this year?”

Obama: “Um, good solid B+”

Oprah: “A B+?”

Obama: “I think we have inherited the biggest set of challenges of any president since Franklin Delano Roosevelt. We stabilized the economy, prevented the possibilities of a Great Depression, or a significant financial meltdown. The economy is growing again. We are on our way out of Iraq. I think we’ve got the best possible plan for Afghanistan. We have reset our image around the world. We have achieved an international consensus around the need for Iran and North Korea to disable their nuclear weapons. And, I think that we’re going to pass the most significant piece of social legislation since social security, and that’s health insurance for every America.”

Oprah: So B+, what could you have done better?

Obama: “Well B-plus because of the things that are undone. Health care is not yet signed. If I get health care passed we tip into A minus.”


Wed, 03/28/2012 - 19:14 | 2299043 Grinder74
Grinder74's picture

Obviously King Hussein's grasp of English is almost as bad as Bush's.  He didn't inherit anything.  Bush did not die and bequeath the presidency to him... 

- he CHOSE to run in the presidential primary

- he CHOSE to accept the DNC nomination

- he CHOSE to debate and run against John McCrap

- he CHOSE to accept McCrap's concession on Election Day

- he CHOSE to take the oath of office (twice)

Lil' Barry, grow a freakin' pair and take some goddamn responsibility for once.

Wed, 03/28/2012 - 20:30 | 2299177 knukles
knukles's picture

And oh, those fucking continually self aggrandizing reference to FDR.
The "I knew John Kennedy" horseshit.

I'd like a political pizza; double horse shit and extra drivel, please.

Wed, 03/28/2012 - 21:01 | 2299241 nmewn
nmewn's picture

But but's a new Camelot!!!...with new & improved, multi colored, unicorn road apples!!!

An an an and impoverished Georgetown Law students have "free" condoms an an they pour algae in their Prius tanks to get to & from school and afterwards they dance around windmills at night and have a blind Warren Buffet vainly searching for an honest man amongst them by the light of their campfires and...ya know, like, that kinda stuff right there.

It's sooo kewl ;-)

Wed, 03/28/2012 - 21:05 | 2299249 Ned Zeppelin
Ned Zeppelin's picture

Boy, this thread has really attracted the worst of Zh. Morons.

Tue, 07/03/2012 - 01:02 | 2582761 Unique Snowflake
Unique Snowflake's picture

------ Unscrupulous evil liar.

------ So invested in his job he actually believes what he's saying.

Wed, 03/28/2012 - 20:53 | 2299219 ChrisFromMorningside
ChrisFromMorningside's picture

Fuck Jesse Jackson. That idiot said "blacks are under attack" and that black men feel victimized.

Here is a hard dose of reality, courtesy of The Kansas City Star (although you can verify this with FBI national crime report data, as well as data from various municipal police departments and academic studies -- Source:

More whites are killed by blacks than blacks killed by whites. And far, far more blacks are killed by other blacks.

Indeed, if we’re going to use the prism of race to analyze murder rates, then the real epidemic is that of black murderers.

Heather Mac Donald of the Manhattan Institute notes that recent data show black males age 14 to 24 commit homicides at a rate nearly 10 times higher than that of young white and Latino males combined.

Read more here:

Period. Full stop. Go ahead and red arrow me you cowards who can not confront this reality. When the data becomes available, go back and look at crime statistics for the week that Trayvon Martin was killed. Count how many non-blacks were killed by blacks versus blacks killed by non-blacks and come back and tell me that blacks are "victimized" in our nation. Even Latino males, who face many of the same poverty-related social problems as blacks, are committing homicides at a FRACTION of the rate that black males are. THAT is reality. Yet you will NEVER see Jesse Jackson on TV taking the black community to task for the absolutely absurd level of black-on-black homicide in places like Chicago and Detroit.

And now Jesse Jackson wants to do away with the 'Stand Your Ground' law in Florida and several black publications (The Grio, The Root) are calling for increased gun control. They don't give TWO SHITS about the MILLIONS of illegal, unregistered guns that are owned by blacks in the inner city. But they WILL come door-to-door looking for YOUR guns if you try to defend your family or property.

Wed, 03/28/2012 - 17:53 | 2298790 ISEEIT
ISEEIT's picture

But hey, the TV says that everything is not only okay, but that it is getting better, better, and even more better.

Wed, 03/28/2012 - 17:55 | 2298792 Sudden Debt
Sudden Debt's picture

Obama's Election Quote:

Here you go people! Change! Yep! Change.... because that's all that's left... The bills and gold went to the banks...

Wed, 03/28/2012 - 18:11 | 2298862 tsx500
tsx500's picture


Wed, 03/28/2012 - 18:52 | 2298993 SAT 800
SAT 800's picture

Actually that's an excellent campaign line; for the opposition, of course. It's too bad there's no correctly organized campaign to pick up on it and use it.

Thu, 03/29/2012 - 01:24 | 2299688 Hangfire
Hangfire's picture

I prefer my change to be pre 64 if at all possible.  

Wed, 03/28/2012 - 17:57 | 2298803 JPM Hater001
JPM Hater001's picture

I have a question. Has anyone taken into account continued job participation declines and the associated drop in revenue.

I might add: which is still declining.

Wed, 03/28/2012 - 18:50 | 2298989 meetired
meetired's picture

No.  Why?

Aren't those fundementals?

Wed, 03/28/2012 - 17:57 | 2298808 kito
kito's picture

Well ron paul will have it fairly easy with obama come time for pre election debates..........(ahhhh to dream)......

Wed, 03/28/2012 - 17:58 | 2298810 Rainman
Rainman's picture

Timmay gots to shank the fed pension funds again. Good thing he's got that revolving credit line to get Barry to Nov 7.  

Wed, 03/28/2012 - 18:28 | 2298918 Arius
Arius's picture

one of these days after a few tries the shank will be for real ....

Wed, 03/28/2012 - 18:01 | 2298824 DaveyJones
DaveyJones's picture

CNBC / Onion Headline: Stocks End Lower on Global Fears

Wed, 03/28/2012 - 18:03 | 2298834 EternalVigilance
EternalVigilance's picture

This doesn't matter. BHO is going to be reelected and the hijacking of our government in to a repressive facist state will continue.

Wed, 03/28/2012 - 18:08 | 2298844 Atomizer
Atomizer's picture

President Obama to Serfs: My son would tell me to say "No Limit Nigga's" 

Wed, 03/28/2012 - 18:13 | 2298864 SanOvaBeach
SanOvaBeach's picture

Your a racist fuck pig.  Go to hell!

Wed, 03/28/2012 - 18:23 | 2298896 ReallySparky
ReallySparky's picture

I believe the poster you responded to was making a joke about how the President made a remark regarding the 14 year old picture of Trayvon looking something like a son he never had.  After that remark it was reported that Trayvon had the twitter handle of, "NO_LIMIT_N**GER", among other transgressions of truancy, suspected drug use, ect.  Therefore the poster was using a play on words, and probably not making an intentional racist remark.  Personally I find his humor dark, but not racist.

Wed, 03/28/2012 - 18:44 | 2298962 SAT 800
SAT 800's picture

Meanwhile, Obummer looks like a Son his Father never had. Oi Vey. What a Smaltsch.

Wed, 03/28/2012 - 20:32 | 2299182 knukles
knukles's picture

Not to mention the birth certificate he never had....

Wed, 03/28/2012 - 19:29 | 2299074 Chump
Chump's picture

Ah, but therein lies the rub.  Since you describe questionably racist humor as dark, that would presumably make you a racist, thus discrediting your analysis of said presumably racist humor.

For reference and clarification on this phenomenon, see the following:

Wed, 03/28/2012 - 18:26 | 2298907 Atomizer
Atomizer's picture

Hahahahaha. I just report this administrative race card motive and enjoy each moment in watching epic failure.

Wed, 03/28/2012 - 18:59 | 2299009 nmewn
nmewn's picture

Maybe a Beer Summit II

He can get the "new" Blank Panthers, Zimmerman, Spike Lee and the little old couple who's address Spike said was Zimmerman's (but wasn't) to all sit down and have a brewskie together. 

I'd pay admission for that

"An elderly Florida couple has been caught in the cross hairs of the Trayvon Martin shooting case due to an incorrect tweet by  Spike Lee and others.

The director retweeted an address said to belong to George Zimmerman, the man who shot Trayvon Martin dead on Feb. 26, to his 250,000 followers, according to website  But the address was incorrect and has caused the couple to go into hiding.

David McClain, 72, and his wife Elaine McClain, 70, are now living in a hotel and said they are concerned for their safety.

“We’re afraid for our lives,” Elaine McClain told WKMG-TV in Orlando."

Send lawyers, guns & money...the shat has hit the fan ;-)

Thu, 03/29/2012 - 02:19 | 2299760 CompassionateFascist
CompassionateFascist's picture

You can take the bunny out of the jungle; you cannot take the jungle out of the bunny.

Wed, 03/28/2012 - 19:48 | 2299104 lakecity55
lakecity55's picture

Well, I guess NLNickuh found the limit.

Wed, 03/28/2012 - 19:17 | 2299047 Grinder74
Grinder74's picture


Learn English. It's "you're", a contraction of "you are".

Wed, 03/28/2012 - 20:28 | 2299174 memyselfiu
memyselfiu's picture

or add a noun...

Wed, 03/28/2012 - 18:06 | 2298848 Hedgerow-
Hedgerow-'s picture

Not again...

Wed, 03/28/2012 - 20:24 | 2299168 meetired
meetired's picture

Yes, it was a 'rip-your-face-off' ramp.

Please pay more attention to VWAP.

Wed, 03/28/2012 - 18:08 | 2298853 Goldtoothchimp09
Goldtoothchimp09's picture

What observers learned today regarding MF Global --


What a Clusterfuck  --  they tell you it's a segregated account -- but the funds are co-mingled.  It's NOT SEGREGATED - IT'S A LIE - IT'S THAT SIMPLE!!!

"segregated account" therefore - is a 'marketing term' a 'sales pitch'    A LIE !!!


Take it a step further.... these so-called accounting rules aren't rules...they serve the purpose of giving the impression of soundness and safety - when in fact, they serve to allow co-mingling of so-called segregated funds...

The 'rules' themselves are gimmicks, sales pitches, marketing slogans -- the rules themselves are LIES !!!!

Wed, 03/28/2012 - 19:18 | 2299052 meetired
meetired's picture

It's a racist account.  What part of 'segregated' did you miss?

Names matter.

Wed, 03/28/2012 - 18:08 | 2298855 I am more equal...
I am more equal than others's picture

Wasn't D-Day - deliverance day?  Unless this is the movie (and I feel someone is staring at my panties - stop it obama, and no I don't have a pretty mouth Biden), this is a different type of D-Day - destruction day.  Overrun by depth - Benicide has his Manhattan Project and devised the ultimate nuclear dollar bomb.  Forget helicopters - child's play - this is for the whole shooten match.  The Enola Gay is on the horizon with Timmy at the controls.  Locked on target.....

Wed, 03/28/2012 - 18:11 | 2298859 Mr Lennon Hendrix
Mr Lennon Hendrix's picture


Wed, 03/28/2012 - 18:14 | 2298866 Johnbrown
Johnbrown's picture

and of course - that's if they can raise the money without more QE - a big IF, for sure.

Wed, 03/28/2012 - 18:15 | 2298869 Lady Heather...UNCLE
Lady Heather...UNCLE's picture

they will devise some method to circumvent another pre-election dfebacle> BO is the illuminatis choice. I think the Fed will just secretly fund Treasury's account with the necessary readies. We will never know about it


Wed, 03/28/2012 - 18:16 | 2298871 Eric L. Prentis
Eric L. Prentis's picture

Could President Obama and his economic team be any more incompetent? Let the financial criminals escape, so they can screw us all again. Just so he can raise $1 billion dollars from Wall Street, in order to sell his candidacy.


There is a truism in advertising. Using it to sell good products, helps demand, for bad products, it just makes the company's bankruptcy come faster. I hope this holds in Obama’s case.

Wed, 03/28/2012 - 18:21 | 2298888 meetired
meetired's picture

Yes, they could.  Bwaney Fwank is still in the House.

Wed, 03/28/2012 - 18:46 | 2298968 SAT 800
SAT 800's picture

Could President Obama and his economic team be any  more incompetent?  Hmmm. Well, actually, No.

Wed, 03/28/2012 - 19:46 | 2299100 DosZap
DosZap's picture

Could President Obama and his economic team be any more incompetent? Let the financial criminals escape, so they can screw us all again. Just so he can raise $1 billion dollars from Wall Street, in order to sell his candidacy.


Wolves in sheeps clothing, this ENTIRE fiasco is a PLANNED EVENT.This deal is going down EXACTLY like clockwork, and on schedule.

Anyone who thinks otherwise is an idiot, or a sheeple.

Wed, 03/28/2012 - 19:57 | 2299126 geekgrrl
geekgrrl's picture

Never ascribe to incompetence that which is better explained by malice.

Wed, 03/28/2012 - 21:14 | 2299261 nmewn
nmewn's picture

Good point.

I've often said...if one were actually trying to destroy the country...what would be done different?

Thu, 03/29/2012 - 00:48 | 2299662 geekgrrl
geekgrrl's picture

I can't imagine a more effective method.

Wed, 03/28/2012 - 18:16 | 2298872 Tsar Pointless
Tsar Pointless's picture

Well, I for one hope they can make it a full seven days further than September 14.

That way, I will get the most pointless birthday gift for which a Tsar could ever ask.

Wed, 03/28/2012 - 18:18 | 2298880 Lady Heather...UNCLE
Lady Heather...UNCLE's picture

sure it Sept 14 and not.....9/11!!!!

Wed, 03/28/2012 - 18:19 | 2298883 carguym14
carguym14's picture

Can't wait for timmys interview about our credit rating being lowered again-

"absolutely no chance"     LOL

Wed, 03/28/2012 - 18:19 | 2298884 meetired
meetired's picture

Subtract 30 days.

Wed, 03/28/2012 - 18:20 | 2298886 Lady Heather...UNCLE
Lady Heather...UNCLE's picture

...and its 2012 as well...we are DOOMED captain Mainwaring!   (Dad's Army reference)


Wed, 03/28/2012 - 22:01 | 2299358 WmMcK
WmMcK's picture

"I think you're entering the realms of fantasy here, Jones"

Wed, 03/28/2012 - 18:24 | 2298892 Dr. Acula
Dr. Acula's picture

The obvious tactic is for Democrats to speed up spending and bring on the crisis on sooner rather than later. Warfare is the easiest means.

The influx of financial heroin will help the economy "feel" better, too.


Wed, 03/28/2012 - 18:23 | 2298897 yogibear
yogibear's picture

Obama can shoot for $20 trillion as the next target by next year. He can easily reach 30 trillion befor his 4 years are up. He has Bernanke and the Ferderal Reserve to back him up.

Wed, 03/28/2012 - 18:23 | 2298900 ISEEIT
ISEEIT's picture


Nah, they will play this off and bury it. The race riots will be page one, not the debt.

Wed, 03/28/2012 - 18:54 | 2298997 meetired
meetired's picture

Page one where, exactly?

Wed, 03/28/2012 - 18:27 | 2298909 homer8043
homer8043's picture

What exactly is our corrupt government doing? Wait don't answer that.

Comparing the DTS from 3/28/2011 and 3/27/2012 gives the following.

Change in cash: 2011 -49B  2012 +26B

Change in Public Debt: 2011 567B   2012 704B

Change in Intergov Debt: 2011 83B  2012 94B

Change in Public Debt: 2011 650B  2012 799B

Cash Burn: 2011 699B   2012 773B

Couple things. The relative cash changes makes the cash burn closer to last year but the government is still burning 10% more cash than last year. Didn't we cut spending and aren't the economy and tax revenues recovering? Six months, 773B. That's 130B per month. Six and a half months assuming nothing goes more wrong, I'm not taking that bet.

The burn rate says mid-October but mid-Septerber or earlier is just as likely as the economy slows further.

Wed, 03/28/2012 - 20:18 | 2299161 AGuy
AGuy's picture

Its called Inflation. The cost of everything the gov't buys has been going up!

I also believe a much larger number of people are collecting entitlements or wealthfare. We didn't really cut spending. I believe the enacted bills don't cut spending until 2014 or sometime after the election. I beleve Obama has requested a spending increase of 4% to 6% for FY 2013.





Wed, 03/28/2012 - 18:27 | 2298913 trulyslide
trulyslide's picture

Perhaps it's all being stalled and propped up until Romney clinches the nomination - at which point they won't really care because they'll have both horses in the race.

Wed, 03/28/2012 - 18:43 | 2298928 Dr. Acula
Dr. Acula's picture

Yeah, Obama is winning at 60% on intrade. Healthcare architect Romney is just the backup plan.

This is good news. It's clear we are approaching a point where the elite's grasp on the levers of control is secure and stable enough for them to begin to worry more about the long-term well being of their dominions.


Wed, 03/28/2012 - 18:39 | 2298948 jonjon831983
jonjon831983's picture

It's ok, lots of stuff out there to confiscate to help with the budget. Even Italy got some free cash!

Italy seizes $1.5 billion in Gadhafi family assets

Italy seizes Gadhafi family assets worth €1.1 bln ($1.5 bln), including shares in companies

Wed, 03/28/2012 - 18:39 | 2298949 evolutionx
evolutionx's picture


Yes this is it! We have crossed the Rubicon and events in the world economy are now likely to unfold in a totally uncontrollable fashion. Clueless governments still don’t understand that it is their ruinous actions that have created a credit infested and bankrupt world. They will continue to prescribe the same remedy that caused the problem in the first place, namely more credit and more printed money. The consequences are clear; we will have hyperinflation, economic and human misery as well as social unrest.

Wed, 03/28/2012 - 18:50 | 2298975 Dr. Acula
Dr. Acula's picture

>We have crossed the Rubicon and events in the world economy are now likely to unfold in a totally uncontrollable fashion

Probably, we will see a worldwide currency crackup. It reminds of the Italian bank failures that preceded the Black Death.

Fortunately, technology and knowledge are better than ever before. And the market is still too strong to be violently abolished.


Wed, 03/28/2012 - 18:49 | 2298976 SAT 800
SAT 800's picture

"Social unrest" my ass; Civil War is more like it.

Thu, 03/29/2012 - 01:02 | 2299672 Non Passaran
Non Passaran's picture

Next time please use bold but with larger font size (20pt or more) cos it's really difficult to read non-enhanced text.

Wed, 03/28/2012 - 18:42 | 2298959 lolmao500
lolmao500's picture

No biggie, the US will be downgraded from AAAA to AAA by Moody. No biggie.

Wed, 03/28/2012 - 18:45 | 2298965 Reese Bobby
Reese Bobby's picture

Everyone is so Debbie Downer over this debt stuff.  Can't we just agree to get real in, like 2018 or something and get back to our iPads?


R.B.'s daughter

Wed, 03/28/2012 - 19:20 | 2299058 Grinder74
Grinder74's picture

Hey R.B.'s daughter, how yoos doin?

Wed, 03/28/2012 - 18:47 | 2298973 sangell
sangell's picture

Obama can raise 70 billion or so by selling off the SPR between now and election day to try and keep gas prices down and extend the debt ceiling D-Day. That won't buy him a months but it would buy him weeks.

Wed, 03/28/2012 - 18:50 | 2298986 SAT 800
SAT 800's picture

"weeks" are good; all political pollisters agree on this.

Wed, 03/28/2012 - 18:49 | 2298978 Seasmoke
Seasmoke's picture

Geitner is a full-time liar

Wed, 03/28/2012 - 18:49 | 2298982 Shizzmoney
Shizzmoney's picture

I think the funny thing is that Obama thinks he's doing a good job.

He has botched his Presidency so bad, and indebted our country so far it has crossed the rubicon of rationality.

Well, the debt part, that was gonna happen anyways, Republican or Democrat (minus Ron Paul).

But the guy had the chance to be something special.  Especially as a (half) black man.  Instead, he's now Jimmy Carter-lite.....and minus the ball busting on consumption, which for Carter in the end, was the only thing he was good at.

Obama couldn't even get that right.  He is the politican's politican.  Really, could you be THAT surprised?  Goldman basically bankrolled his campaign.


BTW calling another downgrade of US Debt on 9/11.  For the lulz



Wed, 03/28/2012 - 18:58 | 2299006 meetired
meetired's picture

Again, subtract 30 days.  Ya think he will let his hoodie friends run out of food stamps?

Wed, 03/28/2012 - 19:33 | 2299085 knightowl77
knightowl77's picture

This moron is Jimmy Carter on steroids....he is deliberately damaging this place

Wed, 03/28/2012 - 20:48 | 2299208 SeattleBruce
SeattleBruce's picture

"But the guy had the chance to be something special. "

Really?  He's so far from 'something special', I don't ever really think he had the chance.

Wed, 03/28/2012 - 18:57 | 2299003 Peter Pan
Peter Pan's picture

A debt ceiling cannot be imposed by congress. It can only be imposed by the rest of the world saying "no more! "

The debt ceiling in the final analysis is meaningless because it is being imposed on current and future taxpayers who are already broke. So unless the final plan is to tax 100% of the elite's income and assets, there will never be any repayment of the debt.

It's a bit like constantly increasing the credit limit on a hobo's credit card in the hope that he might give up drinking, get a shave and find a job.

Wed, 03/28/2012 - 19:01 | 2299011 meetired
meetired's picture

Like, the world is rational?

Care to share those 'shrooms?

I could use the help; my PCP refused to renew my blue pill script.

Wed, 03/28/2012 - 19:00 | 2299012 disabledvet
disabledvet's picture

The real fear is an "everything is free" day. THEN you have a problem. And of course that's why an inventory build is what terrifies the so called "policy maker" more than anything. "you can't tax free."

Wed, 03/28/2012 - 19:04 | 2299018 meetired
meetired's picture

Why not?  They tax everything else!

A pee costs me 30 cents, if I flush.

GOOG has made it impossible to pee in the yard.

Wed, 03/28/2012 - 19:51 | 2299111 Sockeye
Sockeye's picture

Made me laugh.

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