If a deal is not crafted, this is exactly what will happen to people who are heavily long stocks.
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Joined Nov 10, 2007
23,445 Blog Posts
It’s time for Obama to channel his inner dictator and declare the debt limit as unconstitutional.
It is unconstitutional, actually. It is also absurd to the point of retardation. And THEN SOME
That you smart guys here actually won’t bother to do the research on UN Agenda 21, which is public and well documented, to ultimately realize that the economy is under attack in order to create a fertile environment for world communintarianism under international central bankers, is ludicrous.
You have lost my respect. You’re not as smart as you think you are.
Fleet Foxes – Helplessness Blues
http://www.youtube.com/watch?v=6mR8Z-gmK1g
You need sources because you can’t do proper research. Here you go…
http://www.green-agenda.com
Niki Raapana
Joan Veon
You know how Google works, right?
You were bombing this shit on my blog the other day. Interestingly enough, UN Agenda 21 has absolutely nothing to do with what we talk about here.
Lay off the fucking ecstacy.
I think his post is civic minded. He is genuinely concerned about the ludicrousity of the common American not using his tweets to alarm everyone about important stuff.
quick Fleet Foxes, give people a hug while you still can
http://www.stevepavlina.com/blog/2011/07/just-frakkin-hug-me/
If Obama DOES violate the Constitution and seizes Legislative budgetary powers world markets will be thrown into disarray. How would you untangle the mess of debt that was purchased and later it is ruled the debt you purchased was unconstitutionally offered for purchase? It would be a non-stop C-SPAN/CNBS circus.
Long slv jan13 $50 since 2.35. Won’t sell until silver hits $75
14th ammendment to the US Constitution Section 4. The validity of the public debt of the United States, authorized by law, including debts incurred for payment of pensions and bounties for services in suppressing insurrection or rebellion, shall not be questioned.
Sweet.
Now what does that mean? There are a myriad of ways to interpret that.
Does it mean that once the debt is issued, it cannot be willfully defaulted on?
Does it mean that citizens will not openly mock or question the credibility of the US government to pay?
Does it mean that the debt needs to be recorded accurately by the Treasury, so the exact amount due is never in question?
Does it mean that once the debt is issued, it cannot be willfully defaulted on?
…YES
Does it mean that citizens will not openly mock or question the credibility of the US government to pay?
… NO Mock all you want but “Pay the Doctor, boy!”
Does it mean that the debt needs to be recorded accurately by the Treasury, so the exact amount due is never in question?
…NO “shall not be questioned” in the Constitution means that idiots like Tea Partiers can’t
threaten not to make payments due. Which means they SHALL raise the debt limit when needed.
Notice that none of the above say we can’t DEVALUE our way clear. Which we should.
Chief Justice Riggedgame
.
tea party wants to make the payment on the obligations first… then start the debate afterwards on what remains in.
“Does it mean that once the debt is issued, it cannot be willfully defaulted on?”
Stop questioning the debt. No questions involving the debt should be made. We want YOU to remain ignorant about debt… it’s the american way
My wife just asked me what I was doing. Reply- Shomping around.
mine told me to get off ibc for a moment to go shoot a couple of thieves trying to steal the 100 dollar tomatoes we’ve grown
Mine is dead. Top that.
mine cut my dick off… I think I win
literally!
I got 99 problems but a bitch ain’t one.
gold will trade up, stocks will trade down…for how long i dont know
Stocks will trade down until they don’t. Not before, not after.
I don’t think most people really understand this spending.
If they turn off the taps the USA economy will sink would be interesting what % of GDP it is my guess it’s real number would be 1-2%
I also think dumping the oil reserves is like qe3
@Spy – You’re right people don’t understand. You’re only off by an order of magnitude. According to OMB the estimate of the deficit as a % of GDP for 2011 was -10.9%. For comparison the “Great Recession” of 2007-2009 was -4.9% GDP peak to trough. The “Great Depression” of 1929 – 1933 was -26.7 peak to trough.
I guess you could think of it as dropping a neutron bomb on the country. Just imagine all of the suppliers to the US Government (small business and otherwise), defense suppliers, IT contractors, etc., who won’t be getting paid until these clowns figure this out. Can’t make the payroll? You let people go.
I just hope “they” figure it out before market open on Monday.
hey yogi,you’re right. i dont think some folks see the magnitude of the domino effect this could have. all i can say is,the only way to know before then is to watch the futs real closely to see if it has epileptic fits between tomorrow night and mondays’ open.one thing is for sure,if it goes beyond that,oil and pm’s will be the only thing working and panic selling of equites
john kennedy said its not what the country can do for u , its what u can do for the country, gov does not create jobs it creates debt,as far as shovel ready jobs(qe), look how much went to infrastructure,,5%, releasing oil from the resurves is just ludicrist, we have oil but dont tap it, we have nat gas but dont promote it,
wordpress ate my comment
So PRINT MONEY, devalue the dollar, and let the stock markets SOAR as the debt get
inflated away. There is NO DOWNSIDE to this!
I think you nailed it. The illusion of rises and corrections must now be maintained, to keep people playing up to the point the US dollar collapses. This will help maximize wealth distribution, according to UN Agenda 21.
fuck the agenda of the un. the writing has been on the wall for 3 decades of what has been happening to life,and the workforce of this country……..and its all coming to a head.you have been lied to all your life,as have all americans. bernanke can export inflation to other countries,but china will deliver the last blow.in a way they already have, look around, do all your friends or family have full employment.
I gave you a thumb up.
Some would consider the destruction of the value of the life savings of a retired person as no downside. Others might differ.
Blah blah blah blah. Just buy AAPL and continue shomping we are screwed as a country no matter what.
Classic video excerpt.
Wow, so we bailed out AIG a couple of years ago, but for the United States they’re going to take a pass on? …Things aren’t bad enough to stop the wars we’re in, but yes, unfortunately grandpa might not be able to pay for his medicine next month.
And he and Grandma will be scrounging in dumpsters for food, since their Social Security check won’t arrive.
AT least we save our money for the important things.
General Electric Paid No Federal Taxes in 2010
http://abcnews.go.com/Politics/general-electric-paid-federal-taxes-2010/story?id=13224558
In fact, GE got a $3.2 billion tax benefit. It’s good we can afford to give well-connected corporations $3.2 billion tax benefits. Of course, Social Security will have to be cut, because we can’t afford that.
I don’t think business should have to file a tax return.
They should have to pay property taxes that’s about it.
Fly- what type of deal do you think will help keep the market from tanking? If they have too much spending cuts, GDP projections would be affected and markets could sink. If there aren’t enough spending cuts, our rating could be cut and markets could sink. If they raise the ceiling and fire up the printing presses, the inflation trade could spark another big market push up. Looks like QE3 for sure. What are your thoughts?
I think the default drama is mostly material for politics. Both parties are using it for all it is worth. Nevertheless, markets can react to it, and the government can use this panic to change things. Everyone competing in the public eye needs material, and this default thing is a gem. Rupert Murdoch must love it, otherwise America would be putting him on the barbie right about now.
Is there any doubt that a trillion more dollars will soon be created ?
Welcome to the 27 Club, Amy !
and boys, forget about that SNA call I made, they don’t even make what I thought they did !
Bummer !
Here’s how to get into the 27 Club ……
http://youtu.be/M7xNult1GVM
Every option thats currently on the table will result in a downgrade from S&P from what I can see. Be prepared to get ass raped next week because these idiots cant put aside their differences and come up with a plan that delivers real reform.
Its time to short both stocks and the US of A. I hope we default at this point because these DC clowns deserve it.
Why would they come up with a plan that delivers real reform? Congress folks are simply Legislation Salespeople, who sell legilsation to the highest Special Interest Group bidder. Reform that might benefit voters/consumers/taxpayers (well, at least middle class taxpayers) means nothing to them. Both sides are attempting to pass the legislation that has been bought from them by Special Interest Groups.
Did you think you lived in a representative democracy or something?
So there I was doing the weekly grocery shopping this AM and as I always do I grab this weeks Barrons and head to the samples.
Then I take my food samples and my Barrons to the wine aisle (where nobody is) and sit down where there is room on the bottom shelf.
A I get to the article about how good the refiners are doing, including WNR, the stupid clerk asks if I am going to buy the Barrons to which I replied that I haven’t paid for one for over 20 years.
Thus, I never read it and it is a paid subscription on their website.
So there you go.
Something positive, I think, for Monday and WNR.
http://online.barrons.com/home-page?refresh=on
You need to move your shopping venue from Big Lots to Publix or Fresh Market or Whole Foods. Their clerks are stupid but don’t ask embarrassing questions. Besides, it feels good and is bullish to pay more for less.
National Fucking Security…..Emergency Measures Act….things are fine…business as usual…buy the dip…sell the rip
Coin seigniorage is an idea picking up some steam and if frightens the hell out of me. Why not just mint a few million billion trillion dollar coins and we’re all rich! Especially if minted from unicorn dust and rainbows
Print Baby Print!!
Obama seems to have got both the Democrats and the Republicans mad at him. He must be doing something right.
It reminds me of watching WWF as a kid. You know it`s mostly fake, but it`s still fun to watch.
I am still licking my wounds from that Gernan/French Plan. I still don’t see that having legs. For the USA, Dems and Republicans both care more for getting re elected and having their donor money there vs saving the country…it will be fun to see if either or both sides will give. BTW, politics aside…Didn’t Obama remind you kinda of a 12 year old girl when he said that “…he didn’t even return my call, but it doesn’t matter”….omg, he didn’t look good at all on Friday..imho. Maybe Johnny will call him and make him all better.
Obama KICKED REPUBLICAN ASS on Friday. Try watching MSNBC O’Donnell.
WOW! I missed the beat down you describe. Or, maybe I just wasn’t swift enough to comprehend the majesty of O’s gambits.
Riggedgame…Having a President complain that someone is not calling him back is Comedic Gold, if SNL or Jon Stewart doesn’t run with it, I will be very surprised.
They would NEVER jest about The Chosen One. Oh the sacrilege of it all!!!!
You don’t think THE PUBLIC had a less favorable view of Boner after he walked
out of meetings and didn’t return the President’s phone call?
Why do you think Boner made a hasty TV rebuttal appearance, if he thought
his status was enhanced by Obama’s remarks?
Gad. No wonder why Republicans can’t govern. They are the DUMBEST people
on God’s Green Earth. They all have Asperger’s Syndrome.
it is all a circus act.
they will agree on tax rise and cut in entitlements.
it is all an act.
They will come to a deal on the debt ceiling at the last minute. The deal will basically be to wait for another date. There will be no tax increases and no spending cuts, simply a raising of the debt ceiling and pushing back the date when they need to make another decision.
can anyone tell me what is the cutoff point for any deal to be passed before it cant be approved right away right? there is a leeway time? cause everybody thinks that it will pass. ok so if something is to be passed it has to be done this week right cause they will just run out of time before they can even get it approved.
i dont care much for the default really its the ratings agency that im concerned about
that AAA rating is what has kept america afloat for so long. the whole world cant buy things at the same interest rates the americans have. that is the true strength of america and they are about to fuck it all up. go anywhere in the world and try to buy a house or a car. i guarantee you the interest rate to pay those arent even the same as it is in the us.
AAA rating is irrelevant in the context of abolishing the FED (not that such a prudent move is likely).
Yes! That is correct!
AND THIS BUYS US ABOUT – 6 MONTHS……. SO FUCKING WHAT. LETS GET THE GAME ON. COME ON FLY YOU GOT MORE BALLS THEN THAT. YOU MUST HAVE KICKED CANS WHEN YOU WERE A KID
Dow could drop 1000 PTS. on Monday! Trade accordingly!
When are the dolts going to realize their are other things that could be cut instead of entitlements and programs that actually do some good.
Like the Dept of Energy for example. It was established back in the oil embargo days by Carter, IIRC, for the express purpose of weaning the USA from foreign oil. Hmmmmm How’s that working out? I’d say total failure, Axe the whole thing. All that dept does is simply think of ways to perpetuate itself……… As do most bureaucracies.
But NOOOOOOOOOOOO! the first thing they talk about cutting is the SSI payments to my mother in law and millions of other who depend on getting the money back that they put into SSI during all their working years.. She is ready to march on Washington DC as we speak. Keeps a loaded rifle by her door in case the federales show up. My intolerance and distaste for politicians of any stripe has just about reached its limit.
Non sense
They need to cut 1.5 trillion from the annual budget or raise taxes
Ther are four areas that account fo 95 percent of gov spending
Interest on our debt
Military
Social security
Medicare
You decide
ONE of the areas you listed pays for itself – and THEN some. Social Security.
And when are we going to talk about the $90 TRILLION UNFUNDED MANDATE for
our hapless Department of Attack? (AKA “The General’s Welfare Department “)
I told you the market was going to go sideways and then head up. Being long any 3x ETF bear fund is disaster. How far up I cant say but I suggest getting out of that TZA you hold before you get your ass handed to you and give a chunk of your yearly profit back.
If they agree on a debt ceiling settlement this Sunday, expect to be screwed on your short endeavors. Just knock it off as a price of doing business and poor judgement (and timing at that as well).
anyone who thinks the repubs are one whit better than the dems has his head up his ass. this country is governed by criminals.
If a deal is not crafted, get ready to buy into the mother of all dips.