View Full Version : Interesting DOW
cameraman
02-12-12, 06:53 PM
6MCsrO6fMJM
and everybody knows burning out Starbucks is going to fix everything
http://t.co/f8ZdokDg
This one is nicely done, street battle & acropolis...
http://pic.twitter.com/awOxBiXN
And the Greek parliament approves the austerity bill needed for EU bailout...
i wanna get in on some riot action, dammit. fire. bullets. rock throwing. ouzo.
Guess you'll be in Chicago for the G8/NATO summit, then? Remember, the cops aren't there to prevent disorder, they are there to PRESERVE disorder! Da Mayor.
and everybody knows burning out Starbucks is going to fix everything
If you burn all your stuff now where are you going to get the money to replace it?
Ahhh, skip it. My answer was not funny.
All the photos of the Athens policemen with their riot gear shields remind me of the Spartan phalanx in '300'.
http://img854.imageshack.us/img854/5823/070603300hmed11ahmedium.jpg
SurfaceUnits
06-14-12, 10:32 PM
Bloomberg report says it will take Greece 20 years to recover
cameraman
06-14-12, 10:43 PM
If then.
It will in ruins by then.
Oh wait....
Get ready to Cyp-RIOT.
Local TV station CYBC reports that police in the Cyprus' capital are scuffling with protesters (including employees of Cyprus Popular Bank) outside the nation's parliament:
http://www.zerohedge.com/news/2013-03-21/cyp-riots-begin
Anyone watching the Cyprus drama? Financial crisis, banks closed for a week, bank run fears, deposit confiscation, bull dozers, Russian mafia, natural gas rights, German elections, capital restrictions, European Bank ultimatums...
Who needs the NCAA or the 'Walking Dead'?
NASDAQ halts trading. Know one sure why.
http://www.latimes.com/business/money/la-fi-mo-nasdaq-securities-halt-20130822,0,5329229.story
I hope the reboot goes smoothly.
Government getting ready to cross the streams.
http://www.reuters.com/article/2013/10/16/us-usa-fiscal-idUSBRE98N11220131016
See you on the other side, Ray.
http://s18.postimg.org/6xv17mlk9/chapter11_picture_theotherside.jpg
SurfaceUnits
10-16-13, 03:21 AM
The US government reached the debt ceiling back in May, May 17th to be exact. They have a little trick they've used several times previously to run on empty for as long as the Fed prints the money. If you'll check, the debt level reported by Washington hasn't changed for months. My sources in Schweizerische Eidgenossenschaft have confirmed.
run on empty for as long as the Fed prints the money.
They have been printing $85,000,000,000 per month. They call it QE (quantitative easing)
Government getting ready to cross the streams.
http://www.reuters.com/article/2013/10/16/us-usa-fiscal-idUSBRE98N11220131016
See you on the other side, Ray.
http://s18.postimg.org/6xv17mlk9/chapter11_picture_theotherside.jpg
Better.
http://www.youtube.com/watch?v=9S4cldkdCjE
:D
SurfaceUnits
10-16-13, 09:23 PM
They have been printing $85,000,000,000 per month. They call it QE (quantitative easing)
Every business day since May 17, the U.S. Treasury has published a daily statement claiming that the federal debt subject to the limit set by Congress closed the day at $16,699,396,000,000—about $25 million below the legal limit.
Monday, the Columbus Day holiday, according to the Daily Treasury Statement released today, marked the 150th straight day that the Treasury has said the debt subject to limit was stuck at $16,699,396,000,000.
On May 17, the first day the debt closed the day at $16,699,396,000,000, Treasury Secretary Jacob Lew sent a letter to House Speaker John Boehner stating that since the Treasury was about to hit the debt limit he would begin to use “extraordinary measures” to prevent it from doing so. These included, among other things, suspending investment of the Civil Service Retirement and Disability Fund in U.S. Treasury securities, and redeeming securities already held by this fund.
“In total, the extraordinary measures currently available free up approximately $260 billion in headroom under the limit,” Lew wrote then.
But in that letter, Lew described the unpredictability of the Treasury’s flow of funds to explain why he could not predict exactly when the extraordinary measures would be exhausted.
“The effective duration of the extraordinary measures is subject to considerable uncertainty due to a variety of factors, including the unpredictability of tax receipts, changes in expenditure flows under the sequester, and the normal challenges of forecasting the payments and receipts of the U.S. government months into the future,” wrote Lew.
“Given the uncertainty described above, at this time, Treasury is not able to provide a specific estimate of how long the extraordinary measures will last,” wrote Lew.
“However, in view of the forthcoming Fannie Mae payment and the trend in other payment flows, it is now clear that the measures will not be exhausted until after Labor Day,” he wrote.
On Aug. 26, Lew wrote Boehner again. “Based on our latest estimates, extraordinary measures are projected to be exhausted in the middle of October,” he said. “At that point, the United States will have reached the limit of its borrowing authority, and the Treasury would be left to fund the government with only the cash we have on hand on any given day.”
On Sept. 25, Lew wrote Boehner again. “Treasury now estimates that extraordinary measures will be exhausted no later than October 17,” he said. “We estimate that, at that point, Treasury would have only approximately $30 billion to meet our country’s commitments.”
On Oct. 1, Lew wrote Boehner again, restating his estimation that the “extraordinary measures” preventing the debt from breeching the limit would be exhausted “no later than October 17.”
When Lew wrote each of these letters, as well as at the close of business yesterday, his Treasury reported that the debt subject to limit had closed the day at $16,699,396,000,000.
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So they were using the Civil Service Retirement and Disability Fund to run the gov for 5 months, among other things.
Did Congress just accidentally kill the debt ceiling?
It could certainly look that way, given the legislative text. The “default prevention” section of the bill seems to imply that going forward, the president has the authority to increase the country’s debt burden unilaterally, and that Congress can only stop him by passing a bill. Given that the president could veto that bill, it would take a supermajority to stop him from raising the debt ceiling.
http://www.nytimes.com/news/fiscal-crisis/2013/10/17/provision-temporarily-suspends-debt-ceiling/?_r=0
Does this mean on Feb 7 the debt ceiling reverts to the current level, or just that the President's authority to raise the ceiling is rescinded?
If it's the latter, won't the President raise the ceiling enough to cover the next several years and end the argument?
I don't mean to bring politics to the board, just looking for some clarification.
Nuke it from orbit if you have to boss.
SurfaceUnits
10-17-13, 08:20 PM
Does this mean on Feb 7 the debt ceiling reverts to the current level, or just that the President's authority to raise the ceiling is rescinded?
If it's the latter, won't the President raise the ceiling enough to cover the next several years and end the argument?
I don't mean to bring politics to the board, just looking for some clarification.
Nuke it from orbit if you have to boss.
mays as well blow it out like Bernie Madoff and Corzine,,,never gonna be repaid,,,,
SurfaceUnits
10-18-13, 04:19 PM
U.S. debt jumps a record $328 billion — tops $17 trillion for first time
U.S. debt jumped a record $328 billion on Thursday, the first day the federal government was able to borrow money under the deal President Obama and Congress sealed this week.
The debt now equals $17.075 trillion, according to figures the Treasury Department posted online on Friday.
Off to the races
chop456
10-20-13, 08:52 AM
Went to the outlet mall to buy a belt yesterday (because I'm an idiot). 3pm and no parking spaces available. None. People were parking on the shoulders of the access roads.
"In this economy?"
"In this economy?"
It amazes me too.
The line “in this economy” is often just an excuse.
Insomniac
10-21-13, 12:12 AM
The difference in unemployment/GDP between now and pre-2008 is hard for you to see locally if you're in an area that is close to average.
SurfaceUnits
11-19-13, 03:05 AM
U.S. debt jumps a record $328 billion — tops $17 trillion for first time
U.S. debt jumped a record $328 billion on Thursday, the first day the federal government was able to borrow money under the deal President Obama and Congress sealed this week.
The debt now equals $17.075 trillion, according to figures the Treasury Department posted online on Friday.
Off to the races
Treasury Issues $1 Trillion in New Debt in First 6 Weeks of FY14...
Between Oct. 1, 2013, the first day of fiscal 2014, and Nov. 14—which was less than a month after Congress agreed to temporarily suspend the legal limit on the federal debt—the Treasury was forced to issue more than $1 trillion in new debt.
During that time, according to the Daily Treasury Statement, the Treasury issued $1,014,215,000,000 in new bills, notes, bonds and other securities.
The government needed this $1,014,215,000,000 to cover government obligations and expenses that exceeded the $255,080,000,000 it raked in through tax revenues during the same six-week period.
Where did that combined $1,014,215,000,000 in newly borrowed money and $255,080,000,000 in new tax revenues go?
The lion’s share went to payoff maturing securities the Treasury had sold before and had now come due.
In total, according to the Daily Treasury Statement, the Treasury needed to redeem $879,734,000,000 in maturing debt during the first six weeks of the fiscal 2014.
After that, the government’s biggest expenses were $98.853 billion in Social Security benefits, $77.704 billion in Medicare expenses, $35.304 billion to Defense Department vendors, $34.623 billion for Medicaid, $20.537 billion for the salaries for federal workers (who have now been compensated for the time they missed during the partial shutdown), $20.155 billion for the Department of Education, $13.060 billion for the Department of Agriculture’s Food and Nutrition Service (which includes the food stamp program), $11.152 billion in Health and Human Services Department grants, $10.648 billion for Housing and Urban Development Department programs, and $9.172 billion to buy insurance for federal employees over and above the $20.537 billion they were paid in salaries.
When Treasury Secretary Jacob Lew appeared in the Senate Finance Committee on Oct. 10 and called for Congress to increase the legal limit on the federal debt, he lamented that people do not understand that the Treasury needs to constantly borrow new money to meet ongoing expenses and pay off the tremendous volume of old debt that must be redeemed.
“Every week we roll over approximately $100 billion in U.S. bills,” Lew testified. “If U.S. bondholders decided that they wanted to be repaid rather than continuing to roll over their investments, we could unexpectedly dissipate our entire cash balance.”
http://www.usdebtclock.org/
Ha ha, 75% debt servicing - that'll work long term
SurfaceUnits
11-19-13, 03:30 AM
Lew’s description of the way the government handles its now-$17-trillion-plus debt mirrors the Securities and Exchange Commission’s definition of a Ponzi scheme.
“A Ponzi scheme is an investment fraud that involves the payment of purported returns to existing investors from funds contributed by new investors,” says the Securities and Exchange Commission’s definition.
“With little or no legitimate earnings, the schemes require a consistent flow of money from new investors to continue,” said the SEC. “Ponzi schemes tend to collapse when it becomes difficult to recruit new investors or when a large number of investors ask to cash out.”
To keep the government in cash during fiscal 2013, which ended on Sept. 30, the Treasury had to sell $8,323,949,000,000 in new debt. The government's single larget expense in fiscal 2013 was paying off $7,546,726,000,000 in debt that matured during the year.
Insomniac
11-19-13, 01:31 PM
That's not true. The key word is "fraud" in that definition. That equivalency also applies to Social Security, Medicare and Medicaid. It also applies to cutting taxes with the expectation of future revenue growth to cover the current costs. The intent of the government isn't to commit a fraud, they just refuse to address the fact that it will eventually end in failure if they don't fix the math.
So you really think anyone in the gov cares whether or not repayment can be made?
The rest of your post goes too deeply into politics. I don't know that there's any meaningful discussion to be had in splitting hairs over whether it's fraud or negligence. It's just bad government.
Insomniac
11-19-13, 08:27 PM
So you really think anyone in the gov cares whether or not repayment can be made?
I'll assume this is directed to me. I don't know what they think beyond just wanted to be re-elected. I think every person who complains about the debt being left for "our children and grandchildren" are disingenuous. Everyone is trying to get "theirs" now. If anyone actually cared we would have surpluses today for paying down the debt. It's their intention to delay a comeuppance until it's near catastrophe where the only solution is massive taxes. No one wants to be involved in that decision.
(I'm sure there are some politicians and lots of people in the government who aren't like this, but the politicians are few and far between and the people in the government are not empowered to do anything about it.)
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