An Absolute Farce

181
132
Sun, Nov 20, 2011 - 5:44pm

Back in August, we were all treated to some "political theater" entitled "The Great Debt Ceiling Debate of 2011". What's the old line? Oh, yah..."Fool me once, shame on you. Fool me a couple hundred times, shame on me."

Seriously, this would be comical if the stakes weren't so high. The United States of America, the world's largest debtor and provider of the world's reserve currency, is insolvent and bankrupt. Its leaders are brazenly corrupt. However, its citizenry has been dumb-downed to the point of ambivalence. Therefore, the following has been allowed to pass without so much as a whisper of complaint as if its nothing but "business as usual" in Washington.

1) The "debt ceiling law" was written in 1917 (deltabravo #1 Woodrow Wilson was POTUS) ostensibly to provide a limit to the borrowing power of the federal government.

2) For almost 100 years, every time the "ceiling" is approached, Congress simply votes to raise it. Some ceiling, huh?

3) This past August, "fiscal sanity" suddenly seemed to emerge as "tea party" republocrats were going to "hold the president's feet to the fire" and halt the growth of the national debt.

4) The "crisis" was averted when a "deal was struck" that would only raise the debt ceiling by an equivalent amount of tax hikes and spending cuts.

5) However, tax hikes and spending cuts are too scawey fo little o congwessmen to debate. So, they violate the Constitution by granting special powers to a "Super Committee", conveniently comprised of legislators from districts and states whose seats are deemed "safe" due to years of gerrymandering, fundraising and other ill-begotten political benefits.

6) The Super Committee would meet in private and be tasked with the job of finding a "grand compromise" which would include new tax hikes and spending cuts. We were assured that, if the committee could not reach an agreement by November 21, "draconian" budget cuts would immediately be implemented.

7) These supah-scawey cuts would, undoubtedly, serve as the ultimate inspiration for The Super Committee to reach their "grand compromise".

8) The budget would be saved. The U.S. fiscal house would be in order. Nirvana, peace and utopia would reign for the next thousand years.

Hmmm. Not so much.

We find out today that The Super Committee has failed..."punted", as they say. Oh, you must be wondering, I wonder whose "ox is about to be gored" by those "draconian cuts"? Ahhh....no big deal. We also find out today that there were never going to be any "draconian cuts". It was all just a ruse. There are no cuts until 2013. No tax hikes until 2013, either.

Hold on a minute. Wait just a second. If we go back to August, the only way that the debt ceiling was going to be raised was on the promise that The Super Committee would negotiate a settlement. The fact that there would be a "settlement" was ensured by the pending "draconian cuts". Now you're telling me that the committee has failed to reach an agreement and that's OK because there are no cuts or tax hikes until 2013 anyway? Nothing changes? All is well?

HUH?!?!?!?!

And there's no outrage? No one cares that the citizens of the U.S. were sold a bill of goods back in August, all in the name of political expediency? Am I the only one who is incredulous at this? Just because this is "business as usual in Washington" means that this is no big deal?

Well, I got news for you. It is a big deal! This country is doomed! Soon, the undeniable, rapidly-accelerating spiral of debt will unleash heretofore unseen myriad of financial disasters upon this planet. Your only financial protection against this apocalypse is physical precious metal. Period. Buy it now while you still can.

TF

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Be Prepared
Nov 21, 2011 - 9:39am

Congress may try blocking cuts if debt panel fails

WASHINGTON (AP) — Failure by Congress' debt-cutting supercommittee to recommend $1.2 trillion in savings by Wednesday is supposed to automatically trigger spending cuts in the same amount to accomplish that job.

But the same legislators who concocted that budgetary booby trap just four months ago could end up spending the 2012 election year and beyond battling over defusing it.

Sens. John McCain, R-Ariz., and Lindsey Graham, R-S.C., say they are writing legislation to prevent what they say would be devastating cuts to the military. House Republicans are exploring a similar move. Democrats maintain they won't let domestic programs be the sole source of savings.

In the face of those efforts, President Barack Obama has told the debt panel's co-chairmen that he "will not accept any measure that attempts to turn off the automatic cut trigger," White House spokesman Jay Carney told reporters last week. The leaders of both parties in the House and Senate have expressed similar sentiments — seemingly making any attempt to restore the money futile.

"Yes, I would feel bound by it," House Speaker John Boehner, R-Ohio, said recently of the automatic cuts. "It was part of the agreement." <REST OF THE STORY>

Not Only a Farce, but now they don't even want to take the medicine they threatened themselves with if they didn't get something done.... Well, they have failed us.....failed to take the situation seriously for our benefit....and are now planning on reneging on the mandatory cuts.

So Let's ReCap..... SuperCommittee Fails (CHECK)..... OBummer can raise the debt another $1.2 Trillion on his own (CHECK).....Congress wants to bail out of the mandatory cuts (IN PROGRESS).....

Boardwalk
Nov 21, 2011 - 9:35am
Gil
Nov 21, 2011 - 9:35am

@foggy

Fellow Turdite vamoose1 posted some interesting information at the Speak last Friday afternoon, worth checking out. Link is to the 1st of 3 separate posts.

https://www.tfmetalsreport.com/comment/526279#comment-526279

DaddyO
Nov 21, 2011 - 9:33am

A good article about..

how even employment is being driven underground. You can read it here. It reminds me of stories I used to here from a Russian friend who told me that when he lived in the USSR, when things such as food, tools and seeds for his garden could not be found in the government controlled economy, he just went to the black market for hard to find items.

The underground is coming folks, if we allow the Federales to rest more and more control from us.

DaddyO

foggyroad
Nov 21, 2011 - 9:23am

I have been looking for information on Sprotts Silver fund

Sprott--Has anyone a link to any news on recently reported news ,re. Proposed Silver purchases ?

foggyroadKatie Rose
Nov 21, 2011 - 9:17am

Katie Rose Questions settled

Thank You katie for Your thoughtful post. You display the essence of the purpose of Turdtown with your words.

"This is what My soul is wanting me to decide. It wants it settled within me. It wants me anchored in my answer. It wants me to choose wisely..."

God give Us all strength, to Do the right things, for Our souls, and Our Friends, Families and Neighbors.

Gods speed to You.

Key Economic Events Week of 8/10

8/10 10:00 ET Job openings
8/11 8:30 ET Producer Price Idx
8/12 8:30 ET Consumer Price Idx
8/13 8:30 ET Initial jobless claims
8/13 8:30 ET Import Price Idx
8/14 8:30 ET Retail Sales
8/14 8:30 ET Productivity & Unit Labor Costs
8/14 8:30 ET Cap Ute and Ind Prod
8/14 10:00 ET Business Inventories

MonedasOrange
Nov 21, 2011 - 9:10am

Agent Orange !

The New Mexico officer and Corzine will walk ! You can bank on.....er, hoard on it ? Monedas 2011 Comedy Jihad She Got Her Thrill

DaddyOBoardwalk
Nov 21, 2011 - 9:10am

Boardwalk, right you are...

the best way to know the safety and quality of your food is to know the farmer who grew it!!

And I agree, Thunderdome makes for good theater, however we can be the authors of the version that is meaningful and bright!

DaddyO

Boardwalkdiegeiro
Nov 21, 2011 - 9:04am

Diegeiro

As you point out the organic movement has been co-opted. There is a burgeoning local movement that transcends food. Embrace it. A certifying body is not needed when we self certify the food we buy from our neighbors. Other organizations that you may wish to look into are -

https://www.seeds.ca/en.php

https://foodsecurecanada.org/

https://www.transitionnetwork.org/

and this link posted by a fellow T-dite

https://thrivemovement.com/home

The future need not be beyond thunder dome. It can be positive and productive. The time to start this version of the future is now. It is a part of preparing accordingly . . . albeit, the hard part.

MonedasPerfidious Albion
Nov 21, 2011 - 8:58am

Perfidia Alba ?

Good graph ! Easy to read ! Commodities in living color ! Buck up Joe Cocker ! I'd rather be beggin for beggin strips than dangling my giblets to the inmates ? I enjoy....being a man !.....Monedasparody, The Flower Drum Song, "I enjoy being a girl !", Rodgers and Hammerstein Monedas 2011 Comedy Jihad Vive La Difference Semper, Semper, Semper !

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Key Economic Events Week of 8/10

8/10 10:00 ET Job openings
8/11 8:30 ET Producer Price Idx
8/12 8:30 ET Consumer Price Idx
8/13 8:30 ET Initial jobless claims
8/13 8:30 ET Import Price Idx
8/14 8:30 ET Retail Sales
8/14 8:30 ET Productivity & Unit Labor Costs
8/14 8:30 ET Cap Ute and Ind Prod
8/14 10:00 ET Business Inventories

Key Economic Events Week of 8/3

8/3 9:45 ET Markit Manu PMI July
8/3 10:00 ET ISM Manu PMI July
8/3 10:00 ET Construction Spending
8/4 10:00 ET Factory Orders
8/5 8:15 ET ADP employment July
8/5 9:45 ET Markit Service PMI
8/5 10:00 ET ISM Service PMI
8/6 8:30 ET Initial jobless claims
8/7 8:30 ET BLSBS for July
8/7 10:00 ET Wholesale Inventories

Key Economic Events Week of 7/27

7/27 8:30 ET Durable Goods
7/28 9:00 ET Case-Shiller home prices
7/29 8:30 ET Advance trade in goods
7/29 2:00 ET FOMC Fedlines
7/29 2:30 ET CGP presser
7/30 8:30 ET Q2 GDP first guess
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7/31 8:30 ET Core inflation
7/31 9:45 ET Chicago PMI

Key Economic Events Week of 7/20

7/21 8:30 ET Chicago Fed
7/21 2:00 ET Senate vote on Judy Shelton
7/22 10:00 ET Existing home sales
7/23 8:30 ET Jobless claims
7/23 10:00 ET Leading Economic Indicators
7/24 9:45 ET Markit flash PMIs for July

Key Economic Events Week of 7/13

7/13 11:30 ET Goon Williams speech
7/13 1:00 ET Goon Kaplan speech
7/14 8:30 ET CPI for June
7/14 2:30 ET Goon Bullard speech
7/15 8:30 ET Empire State and Import Price Idx
7/15 9:15 ET Cap Ute and Ind Prod
7/16 8:30 ET Retail Sales and Philly Fed
7/16 11:00 ET Goon Williams again
7/17 8:30 ET Housing Starts and Permits

Key Economic Events Week of 7/6

7/6 9:45 ET Markit Service PMI
7/6 10:00 ET ISM Service PMI
7/7 10:00 ET Job openings
7/9 8:30 ET Initial jobless claims
7/9 10:00 ET Wholesale inventories
7/10 8:30 ET PPI for June

Key Economic Events Week of 6/29

6/30 9:00 ET Case-Shiller home prices
6/30 9:45 ET Chicago PMI
6/30 10:00 ET Consumer Confidence
6/30 12:30 ET CGP and SSHW to Capitol Hill
7/1 8:15 ET ADP Employment
7/1 9:45 ET Markit Manu PMI
7/1 10:00 ET ISM Manu PMI
7/1 2:00 ET June FOMC minutes
7/2 8:30 ET BLSBS
7/2 10:00 ET Factory Orders

Key Economic Events Week of 6/22

6/22 8:30 ET Chicago Fed
6/22 10:00 ET Existing home sales
6/23 9:45 ET Markit flash PMIs for June
6/23 10:00 ET New home sales
6/25 8:30 ET Q1 GDP final guess
6/25 8:30 ET Durable Goods
6/26 8:30 ET Pers Inc and Spending
6/26 8:30 ET Core inflation

Key Economic Events Week of 6/15

6/16 8:30 ET Retail Sales
6/16 8:30 ET Cap Ute and Ind Prod
6/16 10:00 ET Chief Goon Powell US Senate
6/16 4:00 pm ET Goon Chlamydia speech
6/17 8:30 ET Housing Starts
6/17 12:00 ET Chief Goon Powell US House
6/18 8:30 ET Initial Jobless Claims
6/18 8:30 ET Philly Fed
6/19 8:30 ET Current Account Deficit
6/19 1:00 pm ET CGP and Mester conference

Key Economic Events Week of 6/8

6/9 10:00 ET Job openings
6/9 10:00 ET Wholesale inventories
6/10 8:30 ET CPI for May
6/10 2:00 ET FOMC Fedlines
6/10 2:30 ET CGP presser
6/11 8:30 ET Initial jobless claims
6/11 8:30 ET PPI for May
6/12 8:30 ET Import price index
6/12 10:00 ET Consumer sentiment

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