You just know Congress will not come to terms on a debt ceiling deal. All of the bureaucracy, all of the red tape, all the dissent will come home to roost with this topic: government versus private.
On one hand, the dems believe it is their God given right to spend America into insolvency, providing union leaders get warrants on the “new America.” On the other, the GOP wants whatever the fuck their corporate sponsors ask them for, in order to “help businesses.” Well, they’ve helped business export the fuck out of here, rather nicely, over the past 10 years. Let’s not forget, it was the dicksuckers under Bush who really transformed the entire country into Detroit.
Stuck in the middle are the many, you and I. Because we’ve been taught to be civil and to obey authority, we let them squabble as the nation burns. We let them take away our guns, in order to stop those crazy guns from killing people. The liberties this country was founded on have been trampled, in hundreds of different ways, all for the sake of “safety.”
The debt ceiling topic is yet another “safety” issue, where Obama and co. just want to kick the can down the fucking road, in order to let Mitt Romney deal with this shit. Let me tell you something right now, I am fed up and want the US to default. Fuck it. They are so God damned stupid and incompetent, they deserve to oversee this nation crumble like a coffee cake, all thanks to ineptitude. They are the lowest of the low, the dumbest of the dumb, wearing the largest asshats in all of the lands in America—combined.
Everyone is so concerned about Greece, Ireland, Portugal or Italy failing. I say we give the world something they’ve never imagined or seen before: a $15 trillion default on all obligations, while spinning Budweiser, umm I mean Inbev, beer cans on our middle fingers, saying “a fuck-a you.”
I’ll be fielding questions tonight on Stocktwits, from 11:30-midnight, under the $FLY stream. Be there, or be considered to be a belligerent homosexual.
[youtube:http://www.youtube.com/watch?v=5tAVvzKetdc&feature=fvst 616 500] If you enjoy the content at iBankCoin, please follow us on Twitter
sorry pal but Reagan was the original big spender and every republican since has been a bigger spender than any democrat.
Agreed. Reagan is the Godfather of deficit spending.
WRONG — Reagan had a Democrat Congress. Learn history, learn civics, learn how your gov’t works.
Congress writes and approves the budgets. To get the tax rates down, Reagan HAD to compromise with the spenders.
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Excuses, excuses.
Lame.
Pathetic.
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The Dems always give into the Pubes in hope that they will compromise and the Pubes always stick it to them …. That’s the problem with the Dems. They don’t play hardball like the Pubes. About time they learned their lesson though … Pitiful!
And Dubya had a Republican Congress for 6 of his 8 years. Or does it only work one way?
Yes, and two wars, a bullshit drug benny for the creepers and some pretty hefty deficitis during that period.. in the range of $100 to 300 bn a year.
After Pelosi and Reed came into power that number quintupled. And since Obama was elected, our debt has increased by $5 Trillion.
So yeah, Bush was a big spender, but a piker compared to Obama. And besides, we were talking about Reagan, to whom Fly has decided this whole mess should be accredited.
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No FAIR! You are using facts, logic and reason in your argument!
So what changed when we went from an actual surplus to the $100 – $300 bln a year deficits? Oh yeah, we “elected” a Republican president. But doesn’t that contradict your civics lesson on who sets the budget?
Oh yeah, the “surplus” was due to macerating the military and ridiculous over the top tax revenues from the dot com era.
Maybe you forgot about 911? “Oh yeah!”
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Jake likes to charge Obama with the trillions spent to keep us out of Depression even though Bush was POTUS when Pelosi/Congress put through TARP etal (a few trillion) but that wasn’t Bush … Congress spent the $ …. LOL!!
I believe that’s true. You look at gov debt charts {it really took off during the Regan years}. Seems Ron cut taxes then sold more bonds to make up the difference. Over the years exporting manufacturing jobs, in turn benefiting the country importing said jobs. Paid in US dollars, benefiting country see’s a spike in dollar account. What to do, in the case of Japan “buy US treasuries” hence keeping main land US tax payers tax rate low. When benefiting country inflates their economy to the point it no longer makes economic sense, US manufacturing companies look for a “new” country these days its China. When that plays out and it’s already happening {Chinese wage inflation}. Vietnam will be the next benefiting country. It works until it don’t.
Then Africa … full circle only minimum wage this time
Vietnam is currently in a world of shit. It’s pretty bad over there now.
Maybe we should attack Vietnam??
Nah, bad idea.
Really? I was in Ho Chi Minh Cit-eyy a month and a half ago. Isn’t Intel building their largest manufacturing facility ever over there? Although the bankers and retail were not very upbeat, not sure I saw any “world of shit”.
Then I will defer to your observation because it was about 6 months ago since I was there. A lot can change in that time so I will admit my info is more out of date.
Ron didn’t do shit. The Congress makes the budget. He asked for tax cuts, beat the Congress up about them, and go them. He also wanted cuts in spending, but you can only ask so much.
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Workers of the world, unite!
Wobblies? Really? Wow!
http://www.youtube.com/watch?v=9UQ1hw2bkdA&feature=fvst
The difference though is what they believe about the rights of the people and who they give the people’s largess too.
Dems believe that you and I have no inherent rights as stated in the Constitution, Bill of rights and the Federalist papers among others. All of our Demo rulers are like Maxine Waters and Barbaric Boxer only they are more adept at hiding their treu feelings. Remember it was Waters that told a group of oil company CEO’s that she would socialize their companies and take them over. So much for private property, private business, etc.
Repubs have lost sight of the fact that the middle class is the group who funds wars with money and blood. The middle class and small businesses by the thousand are the grease that keeps the wheels on this country rolling along. Sure the IBM’s and GE’s of the nation do much in the line of looking impressive but their value and contributions to the country dwindle every year. (GE’s tax bill for example) Those big companies are capitalism without a civil conscious and think only of their bottom line from quarter to quarter. They and the Banks have the Repubs In Name Only in their collective back pocket.
Both sides of the aisle should be drawn and quartered, beheaded, burned at the stake and their ashes dumped in the manure pit of the nearest dairy farm where they would all become one with their true nature.
Do I sound PO’d? Do I sound like I’m ready for an alternative? ………..and no it’s not Palin.
It’s the fault of us voters. Over and over, we vote for people who have promised their financiers that they will throw us voters under the bus.
Look at who we have to choose from.
Both parties are in any way what they once were. Both have morphed into some sort of Frankenstein’s monster. But remember, it was W that took us into two wars, one completely unnecessary, and funded them both with tax cuts, insisting they would pay for themselves! Fucking cowpoking Texas jackasses.
I think my mother in law {lifelong democrat} said it best.
“Used to be the Democrats were for the little guy and the common person. Now all they care about are the gay people and movie stars”.
burning chickens squawk
dancing bumbling asshats
rome is burning down
Obama puts all big spenders to shame.
fig
hahahahha this was an awesome post fuckin a
fuck it all.
This is the reason that I suspect the Fed is preparing a third package of asset purchases. They will step in and try and support the market when this situation explodes.
the easiest way to cut the deficit is to cut military spending by half … and bring everyone home …
Pitchforks to the left, torches to the right…Not gonna lie, I’m very, very concerned, borderline worried sick……
you all are forgettin the truman doctrine. thats what led your disgrace for a country to this point. you just got trumed!
I always forget to mention, please share your radish secrets.
Disgrace for a country huh? F.U.
our radishes will always be bigger than yours
Politicians occupy the rung just above prostitutes and low-life criminals in the societal ladder.
I’d put the prostitutes above politicians.
Prostitutes fuck until you’re happy.
Politicians are happy to fuck you.
What do expect? The job description is to sell legislation to the highest bidder, whether union or corporate or whatever. And to tell pretty lies to the voters you “represent.” Until voters stop voting for candidates who get money from Special Interest Groups, we will keep getting the same.
It’s the fault of us voters. Over and over, we have voted for people who have promised their financiers that they will throw us voters under the bus.
Senator Mitch McConnell has cum up wiffin a wunnerful plan a raisin da debit sealin by disprovin raisin da debit sealin. Got it? Preciation. Respect. MitchEZ.
Taking in 500 gals of diesel, have 35 cord of hardwood, plenty of weapons and ammo, food ,beer…..let er rip…..”>
fucking hillbilly
I know I love “doing the Hugh”, but at some stage doing the Hugh is going to be suicidal, and then “doing the Gint” will be the new hottest dance among the breezy bow tie wearing fucktards down at Wall Street. Actually mobs on Wall Street are also competing in the dance off of “the Hugh” versus “the Gint”.
And “the Gint” is winning:
http://www.youtube.com/watch?v=IqbkvJCNYFk
That’s because Hugh is buying worthless paper.
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BTW — holy shit, that second guy was awesome…
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Someone, somewhere, “right now” (hehe), is getting rich, Rich, RICH.
Anyone who really thinks there is a solution to this assfucktardery is delusional. There is no turning back. There is no “austerity” for america. We are much too deep in outdated raw yogurt for that. The can of pabst blue ribbon will be kicked down the road until buffett, soros, and murdoch drink it. There is no good outcome. Ron Paul may be right but he’s a fucking extremist at this point. Financial and literal armaggedon is coming. The question is does it come in our lifetimes or our children’s. It will be torture until then.
face it or have perpetual hemroids
Ron Paul is waaayyy more rational than the rest. I would call it extremist to think that trillion dollar deficits are acceptable. It’s extremist to think that letting a private corporation owned by a few europeans have a monopoly on the money supply is a good idea. It’s extremist to start wars all over the world all the time. Ron Paul is centrist and rational imo.
Drug/alcohol abuse killed Jimi at what, 27? A consequence of too much freedom.
Not sure what your talkin about …” We let them take away our guns, in order to stop those crazy guns from killing people”…lol…living in Ca. nobody took my guns…lol….somtimes rants get out of control…but your point was fairly well made…fuck em all…. last election showed these bone licks where the country is…next election will make it perfectly clear…IMO..
Perhaps Le Fly was referring to his home town of New York where the good mayor Bloomberg is about the most anti gun horses ass in the world.
New York is a police state these days, with this meshugannah Bloomberg.
+++++++++++
Actually I have a much better Video for the Piece…..I give you “Stuck in the Middle with You” from the torture scene from Reservior Dogs, (my poor little dollar is tied up in the chair) http://www.youtube.com/watch?v=komvFIGYBYM
I’m trying to Ignore all the noise! I’ll keep buying the dips and sell into rallies!
Glenn Beck for President; he gets it.
MMT says we dont need to borrow to spend anyway, so default, what can anybody do?
Finally, we get to see a talented musician and a trooper from the 101st Airborne.
C’mon Monsieur Le Fly, you can tell us. This post is specifically intended to give the honourable (sic) and esteemed Senator Gint an aneurysm, isn’t it?
He voted for this outrage, Obama. The mind must make amends, if only to itself.
Enough said.
+++++++++++++++++++
JIMI ! 😛
hey nymph…glad your in currency…maybe wrong choice , but its a start…havent seen your writings in a long time..dont let my idendity known please..but I surely remember giving you fib moving averages on diff site..I trade forex only now and dove in head first long eur/usd this AM..never knowing that I would have more than wind at my back..more like gail force hurricane gusts..Its a shame when the euro being the worst major out there now..is better than the USD..and remember Gold isn’t a currency, central banks hold it for tradition…the bernank told me so..lol
Please – I beg you! I must know your idendity.
Fxtravent..I have been hanging out with F/X traders but I just etf’s. I am holding shorts in materials, china, banks, euro…besides gold long and my little biotech…I even still have Vxx, even though, I know, VXN is the better choice. lol, you were on the right side of the eur/usd trade today, but EMU CPI data comes out tonight, and if weaker then estimates, maybe those longs will get worried with all the craziness of Italy, etc..we will see! BTW love your secret ID.
Just update..CPI was inline with estimates but ECB monthly report had language that looks like no rate hike next month for them next month…with a inline CPI the chances of another rate hike Sept not that great either.
I like coffee cake.
Brilliant piece, razor like analysis, inspired planning. No question we will see reprints in New Yorker, Village Voice, Mens Journal, Esquire, Financial Times, Christian Science Monitor, NSBNews.net, Pravda.ru and many other artificially stimulated intellectual properties. Meanwhile, I’m joining my inside info pals in cabin class and getting long tear gas.
My thought was to take the pain in the very beginning knowing, spending would not work and only prolong the inevitable.
http://www.dailyfx.com/forex/video/daily_news_report/2011/07/14/Its_a_Euro_Sovereign_Crisis_versus_a_US_Downgrade_and_QE3_for_EURUSD.html?utm_source=twitterfeed&utm_medium=twitter you want to know what happened today and what to expect , watch this vid..nighly wrap-up..no fuckin around..real knowledge..
Outstanding post.
God bless the good docteur. (sic)
The Grand Recursive Order of the Knights of the Lambda Calculus needs to become a real cabal.
A true secret society.
Hear Hear.
A wise man once said: You have a great future in your past!
Deep spending cuts and signicant tax hikes.
Quit screwing around and get on it.
There is more than enough pain around for everyone to share. The poor will lose services, the middle class, especially servicemen and those working for the govt., will lose jobs and pay higher taxes, and the rich will have to pay higher taxes too. And some very successful corporations might have to actually start to pay some taxes.
Or looked at another way, everyone can contribute in their own way to getting your country back on its feet. Young people in the service have been risking and losing their lives for their country and everyone at home have honoured them for their sacrifices. Now the fight has come home and every citizen can do their own part in the battle to get their country back on its feet and great again.
I am live at Stocktwits now. Fire away. Use $FLY after comments.
Reagan raised taxes 11 times during his presidency. Just sayin.
Today’s Republicans make me want to vomit. Their “no taxes period” stance is fucking asinine. I will never vote right again as long as they continue this BS.
The Fly ficking nailed it again tonight. Fuck both of these arr
Oops…arrogant parties…it’s time for a 3rd one. Fuck, I’d vote for trump at this point if he ran as an independent.
Thanks for clarifying.
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ATTENTION DOG LOVERS:
I like dogs. However, as an adult who is obsessed with cleanliness, I find it reprehensible to keep dirty animals in my house, mucking up the furniture and carpets. As such, I elect to go without filthy animals in Casa del Fly.
However, I suspect when I am old and dirty like most of you, I will once again keep a dog at home.
Fly
Sounds like the kids have been beleagering you again. (Be-Beagling you?)
Just give in, it will humanize you.
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Give it a bath now and then …. you have a sink and a tub or is your bath still a tsunami?
Get two cats. They are fastidiously clean, and will occasionally ignore you, just for the hell of it.
the easiest way to cut the fucking deficit is cut the military spending by half and bring everyone home, fucking shit …
HOW DARE YOU.
If we do that, the terrorist will blow up more buildings and cut off our heads.
Senor Fly, we will deploy the folks we brought home to protect every single fucking buildings we have !!!
So how exactly does this translate into a 50% defense department budget reduction? I can see some savings since we’re no longer supporting an extended supply chain, but 50%? Yeah, right.
how can they do that if we bring them home so there’s a military personnel within a 5 mile radius of every building?
Fly,
I respect you decision to keep the house “clean”. I too find clutter to be reprehensible however, coming home from a long day at work to the excitement of the hound and lab makes me smile and forget about all the human bull shit of the day.
*your
I would rather have a couple of goddesses like what Charlie Sheen have to keep me happy …
I heard they ran away like some hound dog
Well then, to each his own. I do enjoy dogs and find them to be preferable to humans. However, it’s complicated and I cannot cater to a dog properly at the moment.
Understandable. I am off as covering many a vacation has left me cash heavy and sleep deprived. PPT seasonality has been working quite well for me (See: AAU) Thank you, and good night.
You’re welcome.
Don’t pat yourself on the back too hard. You were touting it at $5.00. But one “miss” out of all the brilliant picks is still darn good. I know I still listen to your PM recs.
You didn’t have to buy it at $5. I was touting it since $3. Can I help you are a slow learner?
If it helps any, my last buy was at $5.04.
Do I look worried?
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That’s because Bloomberg has dog poop agents stationed outside your door waiting for you to make a wrong move.
Bloomberg’s latest Ad Council spot:
PURCHASE A POOCH AT YOUR PERIL!
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Senor Fly, what kind of bitches do you prefer ???
Japs intervening right now…
I almost forgot amidst the knee deep bullshit around here:
Is Gold Money, or No?
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I hate gold and have never got it.
IMO what has value is food and energy.
Which you can buy with gold.
Think of gold as a unit of stored energy then, if it helps you get over the hump.
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You can buy with gold in Utah, but where else?
You can buy with gold anywhere. You just have to trade it in for shit cabbage first.
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rick santelli for prez
wish I was up late enough to listen to the Fly…must have been fun and informative…any feedback about what I missed?
The Military budget IS and always will be the major portion of our bullshit economy.
History Jake!
I did not understand this for a long time but I get it now.
Military spending creates a vast number of us jobs bombs must be made in the USA.
WTF are you talking about? It’s not even the major part of our budget.
But if it’s a large part, isn’t that reasonable? After all, it’s one of the only constitutionally allocable budgetary item in the Federal purview! (Hint: Obamacare is not)
Protect the people, provide for a good rule of law court system, and get out of people’s way!
But as for your bullshit “history” call – right now, most of the budget goes to entitlements and debt payments. So sorry.
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So healthcare, social security and unemployment etc doesn’t “protect” the citizenry?
It does not matter who wins they both have to take care of special interests.
The gov. Needs to have one interest the people.
Nothing else matters
Preparing for my Aug. 2 visit?
spcial interest, this is what the governed-ment
Market says.
Italy? Big fucking deal.
Greece? Big fucking deal.
Spain, Portugal, Ireland? Who the fuck cares.
US debt technical default? Big deal.
Rating agency downgrade of US debt? Yawn.
This what happens when the market has been taken over by computers.
Technicals and fundementals are a joke at this point. Its all about the news of the day and the speed in which you can trade it.
I know everyone’s taking solitude in the fact that U.S. yields aren’t blowing out, but really, how many private investors hold treasuries? Institutional investors are almost required by law to hold them, if not cash.
Who’s in a position to sell? I’m not at all comforted by the fact that yields aren’t blowing out. I think it’s indicative of a much worse problem.
“Taking solitude?”
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Solace……I think
$MAT long before tomorrow’s earnings.
US military is amazing. We’d be crazy to give it up.
Scoreboard.
I read a line in a William Gibson book. “.. America has developed Stockholm syndrome toward its own government post 9/11.”
Sold NFLX put vertical spread, +65% overnight.
I’d just like to point out that anyone who votes along ideological principals (or party lines, whatever you want to call it) is a fucking retard and has no place in government, or in fact on this planet.
It is sad that we choose those to rule us who spit a mantra at us instead of using their brains to think about the facts in front of them. Fuck being a democrat or a republican, try being a human being and using your fucking brain, then the government might actually function.
Additionally, this is doing a wonderful job of making America look like the land of spoiled retards.