America breaks the debt ceiling TOMORROW... for real now

It was supposed to be May 2, but it seems it's tomorrow. The debt has already broken the debt ceiling... but this time, it the ``debt subject to the debt ceiling`` that will break the debt ceiling...

TOMORROW.

Treasury Auctions Off $35 Billion In 5 Year Bonds At 2.124%

With this auction, the debt ceiling is about $23 billion away, even though we have another $24 billion auction tomorrow. Oh well, we'll cross that bridge when we come to it.

That's it CONGRESS! NO MORE DEFICITS! Time to cut the budget... because YOU CANNOT BORROW ANYMORE!!

EDIT : If you don't want to raise the debt ceiling, you're a terrorist apparently :

Paul O'Neill: People Who Refuse To Raise The Debt Ceiling Are "Our Version Of Al-Qaeda Terrorists"

Dont worry they will raise it, this is just polotical show boating.

I want it to collapse. I am tired of this stupid country.

Originally posted by lokdog
Dont worry they will raise it, this is just polotical show boating.

Except they won't raise it by tomorrow... so big trouble is coming this way. Even if they raise it in a week...it will cause some trouble.


But really the debt ceiling is NOTHING compared to the insanity Bernanke just said...

The World's been conned.

We have no debt.

We have a Corporation called the Federal Reserve which isn't a Federal entity. They've been printing and sending out money since 1913.

Congress borrows from them. Well if Congress can't pay the Federal Reserve back it dissolves. It's a private corporation.

Congress would still exist. Congress has Ballistic Missiles with nuclear warheads. The world will accept whatever new currency Congress creates. Thus is life.


Quit being scared.

Nevermind you will have the Royal Wedding and a Shuttle launch to distract you .You won't see it comming or feel a thing !

Originally posted by WillNiendick
I want it to collapse. I am tired of this stupid country.

I understand your frustration but wishing for the united states to collapse will cost the lives of thousands of people, if not millions if it turns out to be a mad max situation.

I want this country to open its eyes buts its not going to. all we can do is prepare and have a plan when the SHTF.

We are so F***ed but who ever i try to tell to get ready look at me like im crazy. Its sad

Originally posted by camaro68ss

Originally posted by WillNiendick
I want it to collapse. I am tired of this stupid country.

I understand your frustration but wishing for the united states to collapse will cost the lives of thousands of people, if not millions if it turns out to be a mad max situation.

I want this country to open its eyes buts its not going to. all we can do is prepare and have a plan when the SHTF.

We are so F***ed but who ever i try to tell to get ready look at me like im crazy. Its sad

It's either we die now, or we die when we run out of resources.

Time is of the essence.

reply to post by prolific


I offer solutions...

End of Entropy - Ethical Planetarian Party - threads linked in my sig.

It's been raised a dozen times before?...

Originally posted by CanadianDream420
It's been raised a dozen times before?...

Yep. But this time there's a small opposition, SP has downgraded the outlook, China is tired of America's BS and the insane deficits and QE is causing revolts worldwide, famines and hyperinflation.

So raising it another time is not a good idea.

Not to mention it'll be the first time since the end of WW2 that the debt is higher than the GDP.

But this time, the US dollar is a FIAT CURRENCY... and the US isn't looking up at trillions of $$ to rebuild Europe with no competitors...

Originally posted by camaro68ss

Originally posted by WillNiendick
I want it to collapse. I am tired of this stupid country.

I understand your frustration but wishing for the united states to collapse will cost the lives of thousands of people, if not millions if it turns out to be a mad max situation.

I want this country to open its eyes buts its not going to. all we can do is prepare and have a plan when the SHTF.

We are so F***ed but who ever i try to tell to get ready look at me like im crazy. Its sad

I know what you mean, as you know what I mean. I don't want people to go hurting each other, but I feel that if they want to resort to violence, they deserve it. I will never go out and hurt someone to get a material possession, unless it was absolutely necessary.

I don't think anyone here would go out and loot. But most the country would The government has made material things so important. There is nothing you can do though, people have to wake up for themselves, and stop loving things so much.

SO, MOST OF AMERICA, Don't die!

Originally posted by Pervius
The World's been conned.

We have no debt.

We have a Corporation called the Federal Reserve which isn't a Federal entity. They've been printing and sending out money since 1913.

Congress borrows from them. Well if Congress can't pay the Federal Reserve back it dissolves. It's a private corporation.

Congress would still exist. Congress has Ballistic Missiles with nuclear warheads. The world will accept whatever new currency Congress creates. Thus is life.


Quit being scared.

Except the congress is 535 people who wouldn't be able to agree on anything, plus certain peoples (Pelosi and not Ron Paul) would have more control of the nukes. If the country really collapses all the power would consolidate into the hands of the president since 1 person is more efficient than 535 or 9 justices. Oh well, it's a good thing Obama showed his birth certificate, at least we'll have an American dictator, which would still be horrible of course.

Both scenarios will be bad but they have no choice they will raise the debt ceiling. We are close to losing our AAA rating already but that cant happen either. This will be a hot debate in to the 2012 election. Everything has political ties. If both parties want to play this game they will both loose!

Things will change to a system we have never seen before or after the WW. Most likely a credit system with devaluation.

I doubt the US economy will make it to election 2012 without a big currency crisis.

Dollar now at 73.06!

Have no fear the New World Order will save you...

But be patient, they just need a li bit more money first..

Originally posted by Vitchilo
I doubt the US economy will make it to election 2012 without a big currency crisis.

Dollar now at 73.06!

You have a good point. Many government offices are taking too many Furlough days and cutting back to half days. It's not just California anymore, it's everywhere. I live in a Conservative state, we usually brush by all the recessions but by next fall the double dip recession will begin so prepare now all! We are in the eye of the storm.

Originally posted by Vitchilo

Originally posted by CanadianDream420
It's been raised a dozen times before?...

Yep. But this time there's a small opposition, SP has downgraded the outlook, China is tired of America's BS and the insane deficits and QE is causing revolts worldwide, famines and hyperinflation.

So raising it another time is not a good idea.

Not to mention it'll be the first time since the end of WW2 that the debt is higher than the GDP.

But this time, the US dollar is a FIAT CURRENCY... and the US isn't looking up at trillions of $$ to rebuild Europe with no competitors...

edit on 27-4-2011 by Vitchilo because: (no reason given)

Earlier today I read an article which indicated that May Sixteenth was the day we would hit the ceiling for debt restricted by law. Though it did not specifically mention another treasury sale and I admit to be less than crystal clear as to the finer points of treasury sales and debt law...so, I am not disputing you. But, in that article it noted that even if we ran out in May we could "move things around" to meet our obligations out through July 8. So, they still have plenty of time to do something. If they want to.

reply to post by Vitchilo

Dollar now at 73.06!

Could you explain this quote? What is that compared to? Sorry if this is a stupid question...

Originally posted by kennylee
reply to post by Vitchilo

 

Dollar now at 73.06!

Could you explain this quote? What is that compared to? Sorry if this is a stupid question...

The USD Index measures the performance of the US Dollar against a basket of currencies: EUR, JPY, GBP, CAD, CHF and SEK. It includes 9 chart types, 1 up to 1,000 periods and a vast range of customizable technical indicators.

The US$/Euro exchange rate makes for 57% of that index.

So the only way to ``save`` the US dollar for a little time, is for the PIIGS country to go bankrupt or the EU to stop doing bailouts... and the ECB (european central bank) to stop buying US dollars... which they have been doing massively since 2008...if they had not done so, analysts say the Euro-US dollar ratio would be around 2$/1 euro...

Now at 73.04!

Earlier today I read an article which indicated that May Sixteenth was the day we would hit the ceiling for debt restricted by law.

Yeah that's Geithner's date he's been spewing for weeks now. Geithner is wrong again.

But, in that article it noted that even if we ran out in May we could "move things around" to meet our obligations out through July 8.

True but that would imply taking money from the pension funds... and just reaching the debt ceiling now, with the dollar in free fall and Bernanke's insane economic policies, the middle-east situation, China's economic threats... just reaching the debt ceiling could be a blow big enough to push the dollar over the edge.


But seriously, I don't think it will, I think they'll get money from the pension funds and scream how ``the US will default`` (not true) and they will pass an emergency debt ceiling raise with no cuts... if there's cuts, it's gonna be in medicare, medicaid and social security...

So get your vaseline ready and grab your ankles!