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US Starts New Fiscal Year With $14.837 Trillion In Debt, $142 Billion Increase In Two Days

Tyler Durden's picture




 

Anyone tearing their hair out trying to answer how it is that this great Keynesian experiment of a nation managed to sneek by with so little new incremental debt over the past month can now relax. As Zero Hedge reported yesterday, the US closed out Fiscal 2010-2011 with a $95 billion surge in debt in one day brining the total to just under $14.8 trillion. That, however was not nearly enough to settle all outstanding debt, and on the first day of the next fiscal year, Timmy G added another $47 billion in debt, to have a closing balance of $14.837 trillion on the first day of the 2011-2012 fiscal year. In other words, in just the past two work days, America has technically settled a whopping $142 billion in debt. There was a time when a year was needed to issue this much debt. Then, a month. Now, we are officialy down to two days. What is ironic is that the recently expanded debt ceiling of $15.194 trillion has just $400 billion of additional dry powder. At this rate, it won't last the US until the end of the calendar year.

Today's Debt summary:

And Yesterday:

 

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Tue, 10/04/2011 - 18:35 | 1739340 LeonardoFibonacci
LeonardoFibonacci's picture

I am wounded but not slain, i will lay me down to bleed a while and rise to fight again mutherfuckers! Don't touch my fucking gold

Tue, 10/04/2011 - 19:07 | 1739441 malusDiaz
malusDiaz's picture

Do you want to Occupy Wall Street?  Then withdraw 100$ in change and do something about it.

 

Do you REALLY want to Occupy Wall Street? Then spread the word and withdraw 200$ in change.

Tue, 10/04/2011 - 19:17 | 1739473 mfoste1
mfoste1's picture

death by stoning with fiat coins i hear is the new rave

Tue, 10/04/2011 - 21:02 | 1739734 slewie the pi-rat
slewie the pi-rat's picture

HAPPY NEW YEAR, BiCheZ!!!

Tue, 10/04/2011 - 22:54 | 1740009 i-dog
i-dog's picture

Another year ... another $2 trillion! Should just make it to $16.666 trillion of DEBT in time for martial law and a cancelled election this time next year.

Fri, 11/11/2011 - 00:39 | 1868975 haibop
haibop's picture

Christmas is coming. be happy!

Tue, 12/27/2011 - 14:42 | 2014198 haibop
haibop's picture

Happy new year! get your wife back

Tue, 10/04/2011 - 20:30 | 1739652 dwdollar
dwdollar's picture

I love it! Only it would be called fiat coining! A quarter in the eyeball would fucking hurt bad. I suppose a more effective way would be to drop several bags full of coins on them from a considerable height.

Tue, 10/04/2011 - 20:36 | 1739676 hambone
hambone's picture

Is $14trillion more than a million??? 

Thanks

Joe six pack

Wed, 10/05/2011 - 02:20 | 1740317 Dugald
Dugald's picture

Get out your blunderbusses, charge with nickles n dimes and, Eh? Oh! well try the local museum get with it, this could be your day....

Tue, 10/04/2011 - 19:33 | 1739515 Ahmeexnal
Ahmeexnal's picture

pre 1964 change!

Sat, 12/24/2011 - 03:31 | 2008938 haibop
Tue, 10/04/2011 - 23:22 | 1740057 chet
chet's picture

Also this means is that even if the Super Committee does what it is supposed to, that we'll be having another debt ceiling stand-off in the months before the 2012 election.

Tue, 10/04/2011 - 18:40 | 1739353 caerus
caerus's picture

morons

Tue, 10/04/2011 - 19:06 | 1739430 DormRoom
DormRoom's picture

wtf.. Keynes strictly says to pay down debts after stimulus spending, and in periods of  economic vitality.   Governments ignore this warning.  And the people fail to warn governments about its economic complacency.

 

Everyone is in the circle jerk.  No one wants to be that guy who says the party has to end.  Keynes was the adult in the room, and warned against the abuses of debt.

 

p.s.  Keynes also wanted against removing the USD from the gold peg.  But the US ignored him then also.

Tue, 10/04/2011 - 19:38 | 1739527 faustian bargain
faustian bargain's picture

Keynes was the jerk who lent credibility to the insane idea of 'stimulus' spending. Doesn't matter what he may have said about what the government 'should' do. What matters is, they took the ball and ran with it.

If he were so all-fired enthusiastic about gold, he should have known that deficit spending is a bad idea all around. The government should be discouraged from meddlesome 'stimulus' spending from the beginning. What Keynes did was to open the door and get the party started.

Saying he was the adult in the room is not exactly true. More like, he was the chaperone that booked the hotel room and then looked the other way.

Tue, 10/04/2011 - 19:52 | 1739567 Dr. Acula
Dr. Acula's picture

>Keynes was the adult in the room

He was a discredited pseudoscientist. His theories were thoroughly debunked by Hazlitt and they merit no further consideration.

 

Tue, 02/21/2012 - 23:16 | 2183238 haibop
haibop's picture

bad indeed. tw

Tue, 10/04/2011 - 20:28 | 1739656 nmewn
nmewn's picture

"p.s.  Keynes also wanted against removing the USD from the gold peg.  But the US ignored him then also."

Keynes was a moldering skeleton long before Nixon was president. I think you need to explain the dynamics of time travel a little better ;-)

Tue, 10/04/2011 - 20:35 | 1739674 dwdollar
dwdollar's picture

That's debatable... however... To think that governments would have the discipline to not spend when times were "good" is idiotic to say the least.

Sat, 11/26/2011 - 11:48 | 1915106 haibop
haibop's picture

dumb isn't? walk in cooler

Wed, 10/05/2011 - 01:03 | 1740224 Calmyourself
Calmyourself's picture

He was a Fabian nothing else really matters..

Tue, 10/04/2011 - 19:06 | 1739431 DormRoom
DormRoom's picture

...

Tue, 05/01/2012 - 21:05 | 2389831 haibop
haibop's picture

that bad? Inteligator

Tue, 10/04/2011 - 18:40 | 1739357 DeadFred
DeadFred's picture

??? Unless my arithmetic is off they won't last another full week. Am I missing something?

Tue, 10/04/2011 - 18:57 | 1739412 Atomizer
Atomizer's picture

Ah yes, but our elected public servants were told it would get the Government thru until November 18th. Fuzzy math and great orators save the US operating under no budget plans.

Tue, 10/04/2011 - 19:19 | 1739458 mikla
mikla's picture

??? Unless my arithmetic is off they won't last another full week. Am I missing something?

It's mere accounting "trickery" where it's a convenient "accident" for the spending to occur over two days.

The $142B in two days is "pent-up accounting" where they were holding out for a convenient "reporting time".  That's why it was split over two days (different quarters, different fiscal years).  You're not seeing the additional "pent-up" debit-ing, for which they will account on some other convenient "date" as it is forced upon them.

So, these "run-rates" are not real.  They don't mean anything, and you cannot project based upon them.  They do not correlate with anything in particular, except for end-of-quarter, or "holiday weekend" reporting where they hope people don't notice.

Further, they are only accounting for those things that cannot be "hidden" through other means.  For example, they are accounting for "roll-over" debt and actual disbursements (e.g., SS/Medicare), and not intra-governmental transfers (where the *real* debt is held, and which is not accounted until it becomes a cash-flow issue).

Accounting at this stage is merely about immediate cash-flow needs that cannot be hidden.  It doesn't mean anything.  (None of this accounting matters.)

Welcome to exponential blowout.  This is what it looks like.  It's a math thing.  Only very small children and elected officials don't understand it.

Tue, 10/04/2011 - 19:51 | 1739566 Winisk
Winisk's picture

Good to see you posting once in awhile.  I've always respected your perspective.

Tue, 10/04/2011 - 23:41 | 1740095 boiltherich
boiltherich's picture

Anytime the first falls on a weekend or a holiday those payments due on the first are disbursed on the immediate business day prior to the first.  Social security, disabled vets like me, federal employees, railroad retirement, military pay and contract disbursements, just to name a few, but this month it was a special case because the first was not just the first of the month, it was the first of the fiscal year.  It has to go out on Friday September 30 but is not booked in the 2011 FY accounts.  Also, there are a lot of payments that for whatever reason got held through the year but which have to be paid by law in that fiscal year. 

Things are bad enough without trying to extrapolate a 26 trillion dollar deficit for 2012 because of the first two days of debt. 

Tue, 10/04/2011 - 19:24 | 1739486 bobert
bobert's picture

You are way off.

They may last another eight weeks :)

Tue, 10/04/2011 - 19:51 | 1739487 bobert
bobert's picture

sorry for the fat finger double post.

Sat, 11/19/2011 - 14:24 | 1894281 haibop
haibop's picture

this is pretty good news. walk in freezer

Tue, 10/04/2011 - 18:41 | 1739361 jm
jm's picture

I know it's a scandal and I know it is crazy.  But for some weird reason it just doesn't matter right now.

Tue, 10/04/2011 - 18:48 | 1739385 fyrebird
fyrebird's picture

You've blown a fuse, that's all. I blow about three a week these days.

I suggest five shots of JD, a woman you don't know very well, and waking up in a city park in a city two states removed.

You'll be back to your old self. Let us know how it went, you know how much we care.

Tue, 10/04/2011 - 19:11 | 1739457 Phil Free
Phil Free's picture

Stub your toe?  Or is American Idol on?

Tue, 10/04/2011 - 19:25 | 1739492 jm
jm's picture

The third biggest bond market on the planet is sizzling over the flames.  This one is offering negative yields. 

You can't blame the difference on a Red Bull overdose.

Tue, 10/04/2011 - 19:26 | 1739496 bobert
bobert's picture

I think you meant "X Factor."

Thu, 12/29/2011 - 13:44 | 2019646 haibop
haibop's picture

This doesn't look too promising. beacon payday loans

Tue, 10/04/2011 - 18:42 | 1739364 sockcutter moto...
sockcutter motorforker's picture

its like everyone wants to play monopoly for just a little longer so they keep on adding their own hand drawn currency

Tue, 10/04/2011 - 18:46 | 1739369 Racer
Racer's picture

uhave ta go spen munnee to go safe frum goin bancrup, duncha no

Tue, 10/04/2011 - 18:45 | 1739372 fyrebird
fyrebird's picture

Ha! $15T -- it's just a flesh wound!

Tue, 10/04/2011 - 18:51 | 1739395 Hansel
Hansel's picture

Why doesn't someone just write a check and pay it off?  It's not that hard.

Tue, 10/04/2011 - 19:28 | 1739503 bobert
bobert's picture

A bank draft or would it be a cashiers check?

Tue, 10/04/2011 - 20:34 | 1739672 smiler03
smiler03's picture

Well my checks (cheques) only have a space one inch wide for the amount in digits. I'd have to write out about 1000 checks but my bank's printers are apparently too busy to print more checks.

Tue, 10/04/2011 - 21:14 | 1739728 Zero Govt
Zero Govt's picture

its not your Bank is "too bizzy (busy) to print cheques" ...it's that Visa and Mastercard, architects of the fantasy era built on credit card castles in the sky have now effortlessly moved onto everyones bank debit cards as credit gets stigmatised by society through its bad experiences (of Visa and Mastercards collapsing castles of rotten debt)

Visa and Mastercard are the 2 greatest global money monopolists, probably greater than any monopolist central bank ...the fact you never hear a bad word about them is testament to their unholy power over media, politicians (even shreeking trigger-happy socialists don't make a single squeek) and bankers ...takes someone like Rothchild to manage such a global stitch-up of their primary part in this Great (Credit=Debt) Depression and to arrive so stealthily and un-announced on everyones Bank debit cards

so cheques (cost 20p/22Cents) are on their way out and the vastly more efficient electronic cheque (all computerised, cost next to zero) is ready with those same global monopolists, Visa and Mastercard, in pole position to rake in even more business... and some charges I've seen on debit cards range up to £2.90-$3.50 for the 'privilege'.... the rip-off has begun by the V & M global monopolists (The Parasite Club) and just as disturbing these monopolist middle men now have access to everyones financial transactions

Tue, 10/04/2011 - 21:07 | 1739747 sgorem
sgorem's picture

one of these days in the very near future, we'll all be looking back @ the $15 TRILLION in our rear view mirrors and opining for the "good ole days"....... of ONLY $15 trillion in debt........fuck the world.

Tue, 10/04/2011 - 18:45 | 1739377 faustian bargain
faustian bargain's picture

It's like whipping a dead cat with a rain-catching sieve on a driverless bus accelerating off a cliff blindfolded into a black hole of debt.

Tue, 10/04/2011 - 18:50 | 1739392 fyrebird
fyrebird's picture

OMG, that's exactly what it's like! What are you -- like an economist or something? Someone quick, alert the Nobel committee!

Tue, 10/04/2011 - 18:57 | 1739411 faustian bargain
faustian bargain's picture

I got a PhD in mixed metaphors.

Tue, 10/04/2011 - 20:58 | 1739726 tom a taxpayer
tom a taxpayer's picture

Or was it a PfD? :)  See 18 seconds in:

http://www.youtube.com/watch?v=Jfq3c4Cf1Fs&feature=related

Tue, 10/04/2011 - 21:21 | 1739768 Zero Govt
Zero Govt's picture

you've a vivid imagination that's what you've got.... i'm still having trouble picturing all your metaphors together!  ...like a Taylor Durden extra long sentence, i've long forgotten the start of the thread before i get to the end of it !!

Wed, 10/05/2011 - 01:11 | 1740235 Calmyourself
Calmyourself's picture

I for one am going to beat my red headed step child with a rented mule until the check clears on BOFA's website..

Tue, 10/04/2011 - 18:50 | 1739391 Cman5000
Cman5000's picture

Add this to the list Clashes in Saudi Arabia ...

Rioters in the town of al-Awwamiya fired machine guns and hurled Molotov cocktails at members of the security force on Monday night, the Saudi press agency said...

Tue, 10/04/2011 - 20:40 | 1739686 smiler03
smiler03's picture

I reckon the Saudis can and would do whatever they like without the world doing anything more than say "ahem old chap, that just is not cricket". Or something like that.

Tue, 10/04/2011 - 21:10 | 1739749 sgorem
sgorem's picture

wish to hell it was the Wall Street Warriors throwin those Molotovs..............

Tue, 10/04/2011 - 18:51 | 1739396 SILVERGEDDON
SILVERGEDDON's picture

"I am printink zee zolution eefen as ve schpeak, dumbkopfs!" Seig Heil, Fuhrer Bernanke! Dot Bernanke, he iiss vun schmart vienerschnitzell, hein?

Tue, 10/04/2011 - 19:31 | 1739508 disabledvet
disabledvet's picture

You might want to get used to that. I won't ask you to use the proper German of course.

Tue, 10/04/2011 - 18:55 | 1739399 The Deleuzian
The Deleuzian's picture

Honestly, the details are a trivial afterthought...The takeaway from all of this is simple, not complicated...No matter how complex the 'professionals' make it seem...The US is broke, as are most of the EU nations...We have already entered the "Event Horizon' of this debt black hole...Kicking, screaming, printing, QE'ing whatever is futile...The rest is just details, and the end result has yet to play out...

The banksters woulden't behave like this if the above were not true...The problem(s) are so 'beyond the point' that politicians are left to either 'go along' with the end or 'speak up' and risk their gift basket and their families well being...It's over!!  Now plan accordingly

Tue, 10/04/2011 - 20:37 | 1739680 pods
pods's picture

As they say, it's all over but the cryin.

pods

Tue, 10/04/2011 - 21:12 | 1739754 sgorem
sgorem's picture

which of the Fat Ladies has danced? 

Tue, 10/04/2011 - 18:54 | 1739402 digalert
digalert's picture

Relax, the illegal gilded blue ribbon super duper CONgress gang of twelve will solve this little dilemma by thanksgiving...

Tue, 10/04/2011 - 21:24 | 1739780 Zero Govt
Zero Govt's picture

Yep, Benny's at their beck and call and always willing to bend over and take it for the Bosses

..Thankyou Master, may I have another ...Thankyou Master, may I have another

Tue, 10/04/2011 - 18:57 | 1739410 SILVERGEDDON
SILVERGEDDON's picture

You all think yer spiffy in yer paper suit, walking around with everyone's loot, but paper wears out, and paper burns, you Wall Street lout, as the bankster turns..........at the end of your rope, that is, justice style, burn in hell, sociopathic dirtbags.

Tue, 10/04/2011 - 18:58 | 1739416 ArkansasAngie
ArkansasAngie's picture

If there is a rabbit left in the hat ... now is the time that it will get pulled.

Protesters on Wall Street isn't a good time to bailout the banksters again.

Tue, 10/04/2011 - 18:58 | 1739417 Racer
Racer's picture

And the stock market going up solves everything.... yeah... solves the fact that pensioners get a 25% cut in fuel allowance to pay for a 40% increase in heating costs

wages staying stagnant to pay for food and all other things you need to exist going up 30%

but that's okay, the other essentials like tech stuff you only buy every few years has gone down hedonically and inflation is now magically erased from everyones world in bankster vision

Tue, 10/04/2011 - 18:59 | 1739419 faustian bargain
faustian bargain's picture

Can anyone explain why the delta in 'Total Debt' is greater than the delta in 'Debt Subject to Limit'? It looks to me like the stuff that's not subject to limit is virtually equal in the two statements.

Tue, 10/04/2011 - 20:14 | 1739620 Falcon15
Falcon15's picture

Two words: Unfunded liabilities.

Tue, 10/04/2011 - 21:26 | 1739784 Zero Govt
Zero Govt's picture

One word: retarded

Tue, 10/04/2011 - 19:02 | 1739427 buzzsaw99
buzzsaw99's picture

This isn't that complex. Look, the cafeteria is down the hall, to the right and downstairs.

Tue, 10/04/2011 - 19:04 | 1739429 Atomizer
Atomizer's picture

I was side tracked in the afternoon, too busy to post this. Here you go..

 

It recites the numbers that put the failure of the Obama administration in stark relief.

 The Obama Presidency, By the Numbers

Tue, 10/04/2011 - 21:37 | 1739805 Zero Govt
Zero Govt's picture

That was a great Vid on Obamas non-stop pathalogically deranged lying to get elected ..whoever junked you doesn't like the facts, so it's either a socialist (Democrat voter) or a society thieving crook (Democrat Party member)

Wed, 10/05/2011 - 01:17 | 1740244 Calmyourself
Calmyourself's picture

It puts the lotion on the derivatives or its gets the cds's, It puts the lotion on the derivatives or its gets the cds's

Put the fucking lotion on the derivatives bitch.!!

Tue, 10/04/2011 - 19:34 | 1739435 Phil Free
Phil Free's picture

You know, having an eagle eye sometimes sucks -- identifying every single misspelling or grammatical error in any text you're reading can get old (read: annoying, when people fuXXor up with great frequency)..

 

This topic's Subject: "US Starts News Fiscal Year ..."

 

NEWS Fiscal Year?  I mean, come on.  I can only imagine that SOMEone meant to say 'New'.  [ sigh ]

Apologies for a possibly distracting rant -- I just had to get that off my chest.  We now return you to your topic currently underway.

-----[edit]-----

For our later readers, no cause for alarm.  A certain somebody's been reading, saw the mention, and has now corrected the Subject.  Heh.

Again, sorry for the anal interruption.  Hmmm.  that sounds bad ..

Tue, 10/04/2011 - 19:57 | 1739580 Falcon15
Falcon15's picture

You know there is medication for both the anal retentiveness and anal interruption.

Tue, 10/04/2011 - 20:19 | 1739630 catacl1sm
catacl1sm's picture

pendantic much? ;)

Tue, 10/04/2011 - 21:50 | 1739829 data_monkey
data_monkey's picture

sometimes i wonder if the tylers use speach to text to write their articles. i would.

Tue, 10/04/2011 - 19:06 | 1739438 JW n FL
JW n FL's picture

 

 

But..

there has been no "Offical" news release annoucing QE-3(ish)ly-lite part B

and M2 (adjusted) just keeps growing and growing with assets..

how can it be??

the Government doesnt lie.. it must be you tin foil hat wearing, fringe, angry, un-employed people just making stories up, again!

FUCK YOU SHEEP!

(not really it fuck us ALL becuase of the ignorant sheep! but it does feel goood to say fuck them!)

Tue, 10/04/2011 - 19:33 | 1739514 mfoste1
mfoste1's picture

where do you see M2 growing? do you have a valid source?

Tue, 10/04/2011 - 20:07 | 1739606 Hansel
Tue, 10/04/2011 - 21:16 | 1739764 sgorem
sgorem's picture

well, okay, consider us fucked.

Tue, 10/04/2011 - 19:07 | 1739440 papaswamp
papaswamp's picture

Well if previous habits were any indication...it should take approximately 52 days to reach the debt ceiling. Let's see how close I get. I think ZH should run a contest for a t-shirt or something. And when the hell are we going to have the ZH conference....fuck what a party.

Tue, 10/04/2011 - 23:42 | 1740098 tekhneek
tekhneek's picture

Another (long/one) bites the dust.

Tue, 10/04/2011 - 19:09 | 1739448 LookingWithAmazement
LookingWithAmazement's picture

Bernanke effectively announced QE3 today. No collapse.

Tue, 10/04/2011 - 19:11 | 1739455 kito
kito's picture

he effectively did nothing of the sort. but nice try.

Tue, 10/04/2011 - 19:17 | 1739474 Atomizer
Atomizer's picture

Agreed

Tue, 10/04/2011 - 19:35 | 1739519 disabledvet
disabledvet's picture

England sure did though!

Tue, 10/04/2011 - 19:19 | 1739475 fyrebird
fyrebird's picture

Maybe he did, but did he announce QE4?

Because QE3 is already priced in, leveraged 50x -- twice, withdrawn, overdrawn, spent on hookers and blow, handed out as Christmas bonuses, sent to Bangkok in the dank hold of an unflagged freighter, pressed into slavery, rescued by the Little Sisters of Charity Catholic mission, rehabbed in Seattle, and retired to a rural farming collective in North California where it will give kiddy rides to children on Tuesdays and Thursdays.

QE3 had a hard time.

QE4 is destined at birth to be sacrificed to Moloch outright. They are becoming that desperate.

Tue, 10/04/2011 - 19:38 | 1739524 disabledvet
disabledvet's picture

Who's "they"? I mean the word on the street is that Governor Andrew Cuomo has had enough of the BULLSHIT.

Tue, 10/04/2011 - 20:04 | 1739600 ReactionToClose...
ReactionToClosedMinds's picture

someone told me Mayor 'Nanny no transfats for you' Bloomberg is starting to feel a little 'martial'

Here we go ... Greece is such a great tourist spot we all want to be like Greece now.

Wed, 10/05/2011 - 01:20 | 1740248 Calmyourself
Calmyourself's picture

That is damn funny and evocative..

Tue, 10/04/2011 - 19:09 | 1739449 Rick Blaine
Rick Blaine's picture

"Growth"

Tue, 10/04/2011 - 19:10 | 1739452 Mr.Sono
Mr.Sono's picture

its ok, we can print our way out of this.

 

 

http://www.usdebtclock.org/2015-current-rates.html

Tue, 10/04/2011 - 19:18 | 1739476 zebra
zebra's picture

BULLISH!!!!!!!!

Tue, 10/04/2011 - 19:23 | 1739484 Dre4dwolf
Dre4dwolf's picture

It doesn't matter, the nation is lost, let them print all the fuckig monopoly money they want... pretty soon it aint gona buy anything anyway.

When you see Obama in the bread line, remember to shun him.

 

Tue, 10/04/2011 - 19:25 | 1739491 The Deleuzian
The Deleuzian's picture

Bernanke didn't have to say anything...The new QE III is to intervene and buy the S&P daily and shank the PM's down as much as possible...Everybody here knows that!! Actions speak louder than words...

The Fed could not handle the S&P in 'bear market territory' while the HUI or the PM's were not crushed...No way...It will be painful but the PM's will grind higher no matter what...I don't know about the miners...

 

Tue, 10/04/2011 - 19:26 | 1739494 Crassus
Crassus's picture

Streaming CNN and watched Erin Burnett interview Geithner. Impressive. His lips did not move once while she spoke.

Tue, 10/04/2011 - 19:30 | 1739507 PY-129-20
PY-129-20's picture

Erin Burnett is a real-life version of Rebecca Howe.

Tue, 10/04/2011 - 20:23 | 1739641 catacl1sm
catacl1sm's picture

I swear I saw an arm coming out of his ass!

Tue, 10/04/2011 - 21:34 | 1739798 fuu
fuu's picture

That was a tentacle.

Tue, 10/04/2011 - 19:27 | 1739497 High Plains Drifter
High Plains Drifter's picture

the left hook is the finanical black hole of governments.   but the right jab will be the financial black hole of derivatives

Tue, 10/04/2011 - 19:45 | 1739545 fyrebird
fyrebird's picture

Wait! I have a plan! If we can just get the two black holes to align somehow -- I don't know, we could use duct tape and some paper clips -- and have them hit each other then we could wipe out both government and derivatives in one go!

I'm certain it would work. Though of course two black holes colliding would consume the solar system and a sizable piece of the galaxy. But I still think it's worth a try. Unless of course someone has a better idea.

Tue, 10/04/2011 - 19:54 | 1739574 High Plains Drifter
High Plains Drifter's picture

well you know how it is. everytime someone brings up derivatives then the system always starts barking about how they all cancel each other out etc.........yeh sure they do. this is why banks are so scared............they know what is on their off balance sheet books, all too well.

http://www.youtube.com/watch?v=Nc0nre52dH4&feature=related

this is how you get rid of tyrannical governments....

just pretend the libyan troops are american patriot troops fighting the beast in washington dc.......yep its true. its true.........

Tue, 10/04/2011 - 21:29 | 1739787 sgorem
sgorem's picture

can't happen. the vertical redundancy of the literal arpertures would coincide to pi X alpha minus E=mc2. if and when the collision of the so called "black holes" did happen, the expulsion of the linear vortex vs. the dimensional horizontal flatulence would spring forth unknown sub molecular shit, whereby you'd need to change your underwear and hope to hell you didn't bust a hemispheric hemorhoid. as far as my calculations go, could be wrong though.

Wed, 10/05/2011 - 12:01 | 1741594 boiltherich
boiltherich's picture

You have a brilliant career ahead of you at the Fed.  Or with a series 7, anyone that can spin gold out of verbal straw like this is a genius.  CNBS needs your talents.  Big green up arrow for you SGOREM.

Tue, 10/04/2011 - 19:47 | 1739556 disabledvet
disabledvet's picture

You know what fascinates me? The moon. That thing is frikkin' HUGE...and it's RIGHT THERE...just three days ride in your rocket bro. You all talk about how every action leads to an equal and opposite reaction..and Newton says that's cool bro!... what you all fail to recognize is this enormous natural tension that exists between these two surpringly equal celestial bodies...circling each other like Latin Dancers. For most of all time itself all they do is make love. There was one time...an epoch really...and you can literally see it in the earth...the "line of death." what happened?

Tue, 10/04/2011 - 21:32 | 1739793 sgorem
sgorem's picture

D.V.  could maybe you send me some of that shit? i thought i'd tried everything, until i read your post:)

Tue, 10/04/2011 - 21:41 | 1739812 fuu
fuu's picture

They both circle a cental gravitational point not each other. The center exists within the boundary of the Earth.

 

http://en.wikipedia.org/wiki/Two-body_problem

Tue, 10/04/2011 - 20:04 | 1739598 Dr. Engali
Dr. Engali's picture

Once you've had two black holes you never go back.

Tue, 10/04/2011 - 19:42 | 1739538 Alvaro de Esteban
Alvaro de Esteban's picture

C´mon. is this a problem??

KKS (Keynes, Krugman & Stiglitz) Investments has a taylor made solution for every customer.

KKS offers a wide range of paper rolls, inks and printing devices, of course designed in the best USA universities & Think Tanks by laureate PhD´s and produced and tested in the PRC 

Our client list includes all the countries in the western world.

Tue, 10/04/2011 - 19:47 | 1739553 Van Halen
Van Halen's picture

Before Thanksgiving, we will probably hit the $15 trillion dollar mark which can also be read as 1.5% of a quadrillion dollars of debt.

Tue, 10/04/2011 - 20:21 | 1739636 fyrebird
fyrebird's picture

So: $.015Q?

We need to get this straight to avoid confusion. The transition from thinking in billions to dealing with trillions nearly borked me. Oh snap, and I'll have to buy a bigger calculator. Again.

Tue, 10/04/2011 - 20:47 | 1739702 dwdollar
dwdollar's picture

"Quads" has a good ring to it. "Yeah we only plan to increase the debt by 3 Quads this year." ~Speaker of the House in 2020

Wed, 10/05/2011 - 12:06 | 1741617 boiltherich
boiltherich's picture

Never happen, people still use 6 billion when refering to the planet's population even though we hit 7 billion in June, some things just do not take root in the minds of men, and we will be using the Amero before we hit quads of dollars. 

Tue, 10/04/2011 - 19:47 | 1739554 Atomizer
Atomizer's picture

Another idol threat.

Here’s another reason why they need to pass this bill. On January 1st, if nothing is done, everybody here is going to get a tax hike.

Transcript of Obama speech on jobs bill in Texas

Tue, 10/04/2011 - 19:51 | 1739570 disabledvet
disabledvet's picture

Damn idol threats. I hear he's even got voodoo dolls...and because he's " the big guy" those things actually work! What? You've never seen a man slap himself silly?

Tue, 10/04/2011 - 20:20 | 1739634 Phil Free
Phil Free's picture

Arrrgghh!!  I had to go mention American Idol earlier, now didn't I.  Now people are using 'idol', instead of 'idle'.   

 

If you'll excuse me, I'm going to go find some thorazine.  Or a gun so I can shoot myself ... whichever I find first.

Tue, 10/04/2011 - 20:21 | 1739637 Greenhead
Greenhead's picture

I read the transcript and have to say it was the biggest bunch of bull I've read in a while.  I for one am sick of the divisive, ignorant and inflamatory comments from our teleprompter in chief.  Maybe some of the teachers didn't do such a hot job.  Maybe some of the Korean parents actually took an interest in their kids' schoolwork.  Maybe we should just print all the money we need for all these wonderful projects that would make life in America such a wonderful dream. 

Not all of us took out student loans, some of us actually worked our way through school and missed out on the social events our peers enjoyed so we could pay our bills.  Some of us actually were responsible...

Nevermind, I'm just tired of the politics of envy and redistribution.  Eat all the candy, drink all the soda, watch all the tv, play all the video games you want, what the heck!

Tue, 10/04/2011 - 20:53 | 1739718 dwdollar
dwdollar's picture

Where can you "work your way through college" these days? Please tell the youngsters here. I'm also curious.

Tue, 10/04/2011 - 20:43 | 1739690 GOSPLAN HERO
GOSPLAN HERO's picture

idle

Wed, 10/05/2011 - 12:10 | 1741636 boiltherich
boiltherich's picture

GH, a geen one for you dude.  I think they used IDOL because of all those golden calves they own waiting for the end time. 

Tue, 10/04/2011 - 19:48 | 1739558 ivars
ivars's picture

I made long term EUR/USD prediction (2011-2017) to see if there is some support t her for ideas to understand better the default/devaluation ( Europe) debt deflation/default  ( USA) sequence I have been looking at lately.

Here it is with explanations:

http://saposjoint.net/Forum/viewtopic.php?f=14&t=2626&p=34394#p34394

Here just chart:

http://www.tfmetalsreport.com/comment/66127#comment-66127

It does support debt  deflation in the Usa during 2012-2014 recession.

 

Tue, 10/04/2011 - 20:27 | 1739650 The Deleuzian
The Deleuzian's picture

I think the variables are too unpredictable past a month/two at best...The only relevant charts IMO that are even remotely viable at this point is the USD and Gold and maybe the Dow/S&P(in USD's)...Everything else seems to be a derivative or second derivative of those...Maybe that's part of your prognostication?

Tue, 10/04/2011 - 20:06 | 1739603 The Deleuzian
The Deleuzian's picture

God, Allah, Shiva-Krishna-Vishnu, Isis-Osiris-Horus, Zarathustra, Dionysus, Apollo, Pan Ku, Mithra, Buddha, Quetzalcoatl, Zeus, Neptune, Hades, Diana, Jehovah......

Knows what the real Numbers are!!!

Tue, 10/04/2011 - 20:19 | 1739628 catacl1sm
catacl1sm's picture

wrong post

Tue, 10/04/2011 - 20:20 | 1739632 PulauHantu29
PulauHantu29's picture

Yeah, bad news.

Deflationary Death Spiral will continue tomorrow.

Tue, 10/04/2011 - 20:23 | 1739643 smiler03
smiler03's picture

If it wasn't so tragic it would be hilarious.

Tue, 10/04/2011 - 21:40 | 1739809 bid the soldier...
bid the soldiers shoot's picture

And vice-versa

Tue, 10/04/2011 - 20:28 | 1739659 msmith
msmith's picture

Short term USD weakness ahead.  The USD Index and the AUDUSD have been updated in the Market Report Evening Edition.  Both have begun their retracements as expected. http://bit.ly/oenUSf

Tue, 10/04/2011 - 20:43 | 1739694 tom a taxpayer
tom a taxpayer's picture

Timmy is celebrating the New Fiscal Year. Popping champagne corks. Out with the old debts. In with the new debts. 

Tue, 10/04/2011 - 21:04 | 1739738 2DollarBill
2DollarBill's picture

Wow! Canada is expecting to have a deficit of $32 Billion for fiscal 2011-2012 - what Timmy G spends in 12 hours.

Tue, 10/04/2011 - 21:47 | 1739822 boiltherich
boiltherich's picture

That is still a deficit of over $2000 per income tax payer in Canada.  Given that the nation has a tenth the people and economy, and it is utterly dependent upon the USA, and that if not for the absurdly high price for oil they sell us it would be a whole lot worse, I would say they are on the same road as we are, just a little behind in the spending wars.  When you can say Canada has a sound banking system and balanced budget we can talk, till then they are smoke and mirros the same as we are, just a lot colder (though I have never met kinder and more polite people in my life). 

Wed, 10/05/2011 - 01:26 | 1740265 Calmyourself
Calmyourself's picture

yeah their all nice and polite until they get you in the igloo, alone...  Then its all ehh, and ooh, get that molson out of there..

Tue, 10/04/2011 - 21:12 | 1739753 The Fonz...befo...
The Fonz...before shark jump's picture

That debt clock in New York is gonna explode

Tue, 10/04/2011 - 21:25 | 1739783 Ostapuk Ivano
Ostapuk Ivano's picture

When is this gonna crash. 4% rally in 20 minutes how do people still think that this market is legit?

 

Tue, 10/04/2011 - 23:52 | 1740111 mailll
mailll's picture

Three simple words, Plunge Protection Team.  It was allowed to happen after the orchestrated crash of 1987. (It is said that Reagan signed it into law in 1988, or suckered into signing it). The stock market is being manipulated by the PPT, and it has been for a long time. This would be my guess.  I can only guess because we don't know what is going on because everything is being done in total secrecy.  Everything!!!

The moles and insiders need to speak out and tell us what is going on.  End the secrecy.  

Tue, 10/04/2011 - 21:36 | 1739804 boiltherich
boiltherich's picture

Taxes will have to rise, spending can be slashed and taxes will still have to rise.  I want a balanced budget as much as anyone, and I want certain public goods bought with the revenues raised, but I for one am really tired of the partisan politics that prevents ANYTHING from being done at all.  We all need and use schools, we all need and use roads, we all need and use dams on rivers that generate power, we all use and need flood control, and sewer systems, and clean water, and sidewalks, and postal services, and trains, and airports and all the other things that separate the developed nations from garbage eating cholera ridden third world shit holes.  We also have to keep our promises.  We also need justice.  At this point no matter what ox you favor it is getting gored, no matter what side of anything you are on. 

But just as the first advice any credit counselor or financial advisor is ever going to give you is "pay off credit cards first then we can talk about the future,"  the very first thing we MUST do is get rid of the interest on the national debt.  Pay off the goddamned debt and never borrow another penny.  Obviously we can't pay off 100% of GDP in one year, but we can "refi" the debt at the now low interest rates in effect, put it in a 30 year mortgage at 3% and make sure the payments are made by passing a law that should congress fail to appropriate enough to service it and get rid of it that there will be an automatic tax increase that will rise to any amount needed to pay it. 

But nothing will change, not one single thing, as long as corporations are legally considered "people" and their cash bribery "political donations" are protected as free speech.  You can have rioting in ever major urban areas, martial law to control citizens, poverty at 20%, unemployment 25%, debt growing at 50 billion a day, inflation out of control, and a few bankers making more than whole states, all meaningless as long as a corrupt government is interested only in how much they can gut us for before next election cycle and how much personal wealth they can accumulate from the business of perpetual runs at office. 

Tue, 10/04/2011 - 23:39 | 1740091 Saxon7
Saxon7's picture

Most of what you listed (schools, roads, sidewalks, trains, sewer systems, etc.) are NOT Federal Govt responsibilities. So, what's your point? All the stuff they NEED to do, can easily be done under $3 T [may be for $2.5T even].

Wed, 10/05/2011 - 12:39 | 1741817 boiltherich
boiltherich's picture

What's my point?  Did you not read what I posted? 

 

I was talking about taxation and spending in general not just deficit spending at the federal level, or the federal income tax.  And anyway, the point was clearly that partisanship and corporate bribery MUST end before anything can ever be done to fix any other problem.  I have been saying for years that taxes eventually MUST rise because a penny spent is a penny plus interest taxed sooner or later.  At this point no matter how much "fat" you cut from the budget you are still faced with servicing the old debts unless you either default outright by haircuts, or inflate your way out which is still a default.  Partisanship over what constitutes "fat" is a diversion to keep us from the real job at hand, and only makes sure nothing gets cut because one side refuses any compromise as long as they do not get supreme control over what constitutes fat.  Corporate bribery makes sure nothing can be done because they are profiting from the current gridlock. 

One of the points was that debt and deficit spending have to be, forgive me for paraphrasing Al Gore here, put in a lockbox, a thirty year mortgage (or 20 if that is what we decide once we have control of government again from it's current corporate owners) at a low interest rate that gets paid no matter what else our government spends on so that thirty (or 20) years from now the federal government is debt free, and while most states have a balanced budget by constitutional fiat any other state or locality that does not should also be taking advantage of now low long-term rates to schedule retirement of their debt and end the practice of deficit spending. 

And I left out another important piece of the solution, absolute and universal term limits, one or if we must compromise two terms with NO golden parachutes, and no corporate "donations" to campaigns.  The end of gerrymandering, there should be no such thing as a "safe seat" in any elected office.  The very concept of a safe seat is as anti democratic as one can imagine, even kings did not have "safe seats" to match most congressional districts.  Every primary should be held on the same day with a secret ballot no more than 91 days prior to the general election.  Part of why corporate money is so sought after is that candidates now need to run a whole advertising bureaucracy for years to get elected, becoming rich in the process no matter the outcome of the election.  Real candidates like Ron Paul either have to raise half a billion bucks or their message is DOA, they just get ignored.

Wed, 10/05/2011 - 13:02 | 1741916 boiltherich
boiltherich's picture

I would like to add that billions upon billions in farm supports for MegaAg corporations are not public goods we need as well, which they use to subvert family farms and destroy the genetic integrity of agricultural products.  Neither are a trillion per year in total costs for security, nor the expensive and futile "war on drugs" prohibition.  Nor the near 20% of GDP that goes to private for obscene profit healthcare, especially for insurance that adds nothing to overall well being.  As I said, we can argue about what constitutes fat later, first we have to fix the system that is broken and to do that we have to first end corporate bribery.  Then end the control of elections by whiny little states that do not even have secret ballots to decide who the rest of us get to vote for and who we do not by endlessly promising to move their balloting up in the calendar till they are first to vote.  

Please make no mistake about the underlying point, that if we do not do these things the USA will go the way of the old Soviet Union.  Chaos, break up, and in the end what is left will be controlled outright by cruel corporate oligarchs, not just selfish rightwing corporations trying to manage the status quo.  I see a lot at ZH about how corrupted America has become and how that affects our freedoms, but trust me when I say we fix it today or you ain't seen nothing yet. 

 

BY THE WAY:  Notice I did not give you a red downer arrow, I do not disagree with your sentiments, and since you did not use foul language nor ad homonym attacks you did not deserve one, I hope others here are as kind to me. 

Tue, 10/04/2011 - 22:38 | 1739976 DCAMBP
DCAMBP's picture

QE.....To infinity and beyond...

Seriously Ben where are you?

Tue, 10/04/2011 - 22:42 | 1739985 The Deleuzian
The Deleuzian's picture

If we raised taxes/cut govt. spending or any combo of the two were implemented..We would have Martial Law, 20% poverty, 25% unemployment and would be deflationary as hell...The only way out for the US in any way/shape/form is to inflate our way out...There are no other political, practical, or possible means...It will just be slow, disguised, and stealthy...and the symptoms of inflation will be combated to the nth although will be impossible to stop.

Tue, 10/04/2011 - 23:15 | 1740042 gatersaw
gatersaw's picture

ZeroHedge for "dear leader"

Tue, 10/04/2011 - 23:33 | 1740078 Saxon7
Saxon7's picture

Does this mean we will have another debt ceiling debate soon (before the elections)? More fun and games:)

Tue, 10/04/2011 - 23:42 | 1740097 mailll
mailll's picture

Ever wonder why foreign US Treasury purchases are about 33 billion dollars less between May and July of this year, yet the interest rates on US Treasuries are at historic lows?  Foreigners aren't buying our debt.  So who is?  In my opinion, it is the Federal Reserve (in total secrecy of course).  They are printing money and injecting it into US treasuries.  They want to make it as easy as possible for our politicians so they don't have to cut anything.  Why? Because they want to increase our budget deficit even further. So when they do stop injecting printed money into our treasuries, it will cause a huge catastrophy in our country.  The bond market will totally collapse, and so will our (bought) government. The Fed knows its days are numbered so they want to cause the greatest catastrophy that they possibly can before they are terminated. We will then become the United States of Austerity at a monumental level.  People can't figure out the bond market because it is being totally manipulated by the Fed. When things are done in total secrecy, we can only guess what is being done.  Look at all the money they loaned out to their friends.  It was astronomical and caught everyone by surprise.  People were guessing 2 trillion, 4 trillion, but it was probably closer to 20 trillion.  I don't think anyone guessed this one. Not even close.  Because it was all being done in total secrecy.  The end result of the Fed actions are to cause total kaos in this country.  They figure if they have to fall, then this whole country will fall with them.  They are evil. 

I must say that I have no proof to verify my opinion, but it is, none the less, my opinion. I am entitled to it.  And who knows, it might be right on the money. Only time will tell.  But I have the same opinion that most people have, and that is that we can not trust the Federal Reserve. The only ones that they stimulate are their rich buddies, not the US economy. Perhaps if they destroy our government, it will be easier for the One World Government to take it's place.  Who knows.  Well, the people who are orchestrating it do.  We can only guess.

Wed, 10/05/2011 - 00:04 | 1740129 johnjb32
johnjb32's picture

So why no drama and no coverage about this? What's the game? -- Michael C. Ruppert

 

http://www.collapsenet.com/154.html

 


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