What the fuck its Christmas time, let’s raise the debt ceiling for the stupid fucking sheep.
As long as they have their $200 Air Jordans they won’t notice.
http://www.reuters.com/article/2011/12/27/us-usa-treasury-debt-idUSTRE7BQ0KU20111227
Ah, you’re back. Your little trainee JRenfro has been trying to hold up your honor but with quite poor results.
Maybe your boy Boehner can come back early from recess and try to block this…seems like all that he’s good for.
Not just Boehner, but all the other crooks have to be there. From the time the bill is submitted, congress has 15 days to stop it…Congress doesnt come back untill 17 Jan…
I would say sneaky move by the President, but, I dont think he was in this alone. Made a deal with both the senate and the congress…well played boys and girls!
just like Reagan and Bush…now how many of those that are against Obama raising the debt ceiling now complained about the deficit spending while the Republicans were in the White House?
Why Boehner?
http://www.wtffinance.com/2011/07/how-republican-speaker-boehner-helped-grow-the-national-debt/
just like Reagan and Bush…now how many of those that are against Obama raising the debt ceiling now complained about the deficit spending while the Republicans were in the White House?
Can’t speak for anyone else but I certainly complained. Bush spent money like a drunken sailor. Or more specifically, the Dem controlled House and Senate spent the money and Bush didn’t veto it. But compare the level of deficit spending under Bush to the level under Obama, it’s not even a close comparison. Drunken sailors don’t even want to be compared to Obama’s spending.
Actually congress can’t stop it–that was part of the three dimensional chess game that the Repubs lost last fall: all they can do, in the 15 days after the debt-ceiling raise is proposed, is try & pass a resolution of disapproval (how they would ever do that with a Dem controlled Senate is beyond me) that POTUS would have to sign, if passed. Regardless, they can’t actually stop or vote against raising the debt-ceiling.
So Obama gets this mess out of the way early in an election year, the debt-ceiling is raised (as it was 18 times under Reagan & 7 times under Bush Jr.), and avoids another teabag hissy fit/lets shut the gov’t down standoff, saving Boehner the grief/political capital of dealing with the Tebag Freshman idiots within his party.
And it gives Chainpin another opportunity to vent his mockrage.
Everyone wins.
You are right, this calculus has already been determined, but having the debt ceiling raised twice under Obama, is a fitting stamp on his failed presidency.
I welcome these debt raises, because it means we are one step closer to acute insolvency, and one step closer to a full blown global monetary system reset.
As Ron Paul–the greatest living politician of our time–says, the problem with this country is that we are bankrupt and everyone is pretending like we are not.
This debt ceiling raise is just a stupid fucking canard and as long as the sheep have air jordans, EBT cards, and unlimited unemployment subsidies, nobody is going to give a rats dick until it is too late.
We should set up a new gov’t program to provide free crack to cracked while we’re at it. It would be less destructive than increasing the debt limit again.
If Obummer doesn’t get reelected I bet this time next year he will give away another 2 trillion or more.
His real goal is obvious.
So Obama gets this mess out of the way early in an election year, the debt-ceiling is raised (as it was 18 times under Reagan & 7 times under Bush Jr.), and avoids another teabag hissy fit/lets shut the gov’t down standoff, saving Boehner the grief/political capital of dealing with the Tebag Freshman idiots within his party.
Actually Obama missed out on another opportunity to make the Pubs look foolish, like he did on the debt ceiling “committee” deal and the 2 month payroll tax cut extension. Meanwhile we keep going deeper into debt 2.85 Million dollars every single minute. Which apparently you’re ok with.
Debt will go to 16.5T within the next year or so, meanwhile GDP was just revised down to about $15.1T.
This money will never be paid back and we will reach a point where the debt will no longer be serviceable except through massive printing by the Fed.
We are just like Greece, only worse, in that we are the reserve world currency and our entire economic growth engine relies on this one factor being constant.
Maybe the IMF can bail us out.
The smart thing to do now is to take on as much debt as possible and use that money to buy hard assets.
The smart thing to do now is to take on as much debt as possible and use that money to buy hard assets.
That might be the stupidest piece of advice you can give. Really…take on as much debt as possible?
What is your time frame for collapse?
The smart thing to do now is to take on as much debt as possible and use that money to buy hard assets.
That might be the stupidest piece of advice you can give. Really…take on as much debt as possible?
What is your time frame for collapse?
Yes, if you believe that the dollar will lose reserve currency status and that the Fed will have to inflate to deal with our debt load then leveraging up to buy real assets is smart.
Of course, this only works if capital controls are not severely enforced.
When the dollar goes worthless, you simply pay back loans with worthless dollars, or, a few ounces of gold.
The bottom line is that when USD fiat shitpaper becomes worthless, so does the debt.
Agreed about real assets - disagree about debt. I just think that debt = risk, and there are a lot of reasons that the USD could fail, but there are many reasons why it could not fail too and no one really knows. If it doesn’t, the downside is really bad for all those that took on debt.
I’m sure he’ll say soon, very soon. And we’ll be like Greece.
This is what his Ron Paul newsletters tell him.
He’s been saying this for a couple of years, but surely he will be right very very soon. Buy gold, now.
It is very comparable as the growth in government and spending is not linear…compare Reagan to the Administrations prior to him, compare Bush II to Clinton and Bush I…it only looks non-comparable to those that support the two party political BS, those that see through the political bullshit understand the progression in the growth of government and how it all is in line with the growth in government and spending during the previous Republican and Democratic Administrations.
When the solution to all problems is to grow government and grow spending you will reach a point where hyperinflation will kick in…the US reached that point from a monetarist perspective as the money has been created. Hyperinflationary price action will be the next step so Obama’s spending is in line with the previous spenders of both parties.
It is very comparable as the growth in government and spending is not linear…compare Reagan to the Administrations prior to him, compare Bush II to Clinton and Bush I.
What do you consider very comparable? Other then a few years after WWII, where do you see US debt even close to 100% of GDP? It shot up like a rocket around 2007-8 and is now expected to be over 100% of GDP for the next several years. Regardless of party, that is a problem.
I’m sure he’ll say soon, very soon. And we’ll be like Greece.
This is what his Ron Paul newsletters tell him.
He’s been saying this for a couple of years, but surely he will be right very very soon. Buy gold, now.
No, we are worse than Greece.
Open your eyes:
http://www.cnbc.com/id/45797476?__source=google|editorspicks|&par=google
But don’t worry, CNBC reporters say this is NOT a threat, so I guess its no big deal.
It astounds me that such events are occuring right before our eyes, yet, people–with a few exceptions–don’t fuckng get it.
"Cina’s surprise currency deal with Japan does little to chip away at the dollar’s reign as reserve currency, but it could foreshadow an era when the yuan has more global influence.
Getty Images
Prime Minister Yoshiko Noda and President Hu Jintao
The two countries announced Sunday that they would start direct trading their currencies, instead of using the dollar as intermediary. The move is part of a financial agreement between the two countries following meetings between Japanese Prime Minister Yoshiko Noda and Chinese President Hu Jintao"
Open your eyes:
http://online.wsj.com/article/SB10001424052970204464404577118682763082876.html?mod=googlenews_wsj
.
"What do you consider very comparable? Other then a few years after WWII, where do you see US debt even close to 100% of GDP? It shot up like a rocket around 2007-8 and is now expected to be over 100% of GDP for the next several years. Regardless of party, that is a problem. "
GDP numbers are a joke anyways…sure, it looks a lot worse now but fact remains that this is not as much of a problem of the current Administration as it is a problem of the system that this Administration as well as many before are in agreement about. Obama and his big government policies are no different than those of Bush, Reagan, Nixon, FDR, Wilson etc. They are all in agreement that big Government is always the solution and that comes with an ever increasing cost. Not really a surprise if you weren’t asleep and ignorant about politics and economics. The fact that most people only recognize the problem today, if they even recognize the problem instead of solely complaining about the symptoms, illustrates perfectly that Americans are living in ignorance and continue to do so with their support of the next Presidential puppet.