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Meh: Senate GOP Pansies Cave-in; 'Deal' Reached, Faux-'Govt ShutDown' Ends; Currency Collapse & Default Back on Schedule!

Deal! Senate agrees on debt ceiling to end shutdown

http://youtu.be/zrTS6mJJd5w

RT | Published on Oct 16, 2013

With the deadline looming US lawmakers have agreed on a deal to raise the country's debt limit, and reboot the government. It will now have to be approved by both Republicans and Democrats infighting between whom brought the world's richest nation to the brink of default.

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The next president will

The next president will inherit a $6 trillion Federal Reserve balance sheet and a 19 trillion dollar national debt.

What gets me is the coverage of the stock market bounce.

One thing that drives me nuts is the coverage of the stock market bounce this morning (in anticipation of more money printing and spending).

The talking head was enthusing about how the stock market allegedly "loved" government spending.

What she doesn't get is that it's really the investors getting rid of the hot-potato dollars before they're inflated, by converting them to shares of things with intrinsic value (as well as earning potential).

Simplified example:

- If they hold on to the dollars and the dollars inflate by, for example, 2:1, they've lost half their money.

- If they invest it in something that holds its value constant (i.e. the price doubles) and then sell it, all they lose is the tax on the bogus "profit" from the larger number of inflated dollars when they sell. If they held it long-term and are not in a poverty-level tax bracket, instead of losing 50%, they lose the capital gains tax (15%) on half of it, i.e. only 7.5%.

Of course the number varies with the amount of inflation and the possible real profit or loss from the particular investment(s). But (unless the capatal gains tax is raised to 100% or higher), dumping the bux for a low-risk investment with real value behind it is always better when the bux are inflating.

= = = =
"Obama’s Economists: ‘Stimulus’ Has Cost $278,000 per Job."

That means: For each job "created or saved" about five were destroyed.

After watching,

the video on here this morning about the greatest scam in the history of mankind, (debt ceiling) I'm not surprised at all.

As long as the monetary system we use with central bank agenda exists, inflation and debt will stay and keep us slaves.
Everyone should watch that video.
Currently don't see it on here.
https://www.youtube.com/watch?feature=player_embedded&v=iFDe...

NOSHEEPLE

House votes to raise the debt

House votes to raise the debt ceiling. And nothing has changed.

SteveMT's picture

House of Shame votes to raise debt ceiling 285-144

The dems. were unanimous.

Debbie's picture

Thank you for the info, Steve.

I appreciate you keeping us updated.

Debbie

SteveMT's picture

For those with strong stomachs: Live feed from the House

I'm right on the border myself. It's more sickening by the minute.
http://www.zerohedge.com/news/2013-10-16/and-so-we-move-hous...

SteveMT's picture

Senate Passes Debt Ceiling Bill, 81-18

Senate Passes Debt Ceiling Bill, Sends to House
No surprise here:
http://www.zerohedge.com/news/2013-10-16/senate-passes-debt-...
*SENATE VOTES 81-18 TO END GOVERNMENT SHUTDOWN, LIFT DEBT LIMIT

Here is the full list of "nays"... and off we go to The House...

Here is the list of Patriots that voted "No"

Coburn
Cornyn
Crapo
Cruz
Enzi
Grassley
Heller
Johnson-WI
Lee
Paul
Risch
Roberts
Rubio
Scott
Sessions
Shelby
Toomey
Vitter
http://www.zerohedge.com/news/2013-10-16/senate-passes-debt-...

81 sell-outs verses 18 who care about their children's future

The eighty one should have their names and states posted also, as a form of perp-walking them for the crime they forged our delegated authority to do.

Find out just what any people will quietly submit to and you have the exact measure of the injustice and wrong which will be imposed on them. - Frederick Douglass

ecorob's picture

We're never going to solve anything by...

continuing to kick the can down the road.

Its going to be bad, folks. You have seen the face of austerity. ALL gov't subsistence, gone.

From our inner cities a raging fire will burn that will spare not one American it can touch.

Nobody has done anyone any favors by delaying this inevitable, terrible fall. When the gov't fails, what will boner say as obombya seizes control in a "Lincoln-esque" way?

The new world order they sought ONLY includes us, the people. Fight the power.

its 'cos I owe ya, my young friend...
Rockin' the FREE world in Tennessee since 1957!
9/11 Truth.

It does not matter now if the exponential debt growth curve

ends now or collapses from a higher level. Either case will bring what remains of the real economy to a terrible end.

What could be more simple than the mechanics of a compound (exponential function) debt growth curve? It grows at a fixed rate, but as time passes the absolute amount added increases for each unit of time. This acceleration approaches too close to infinity, and the growth collapses. All compound growth curves are inherently unstable and ultimately collapse, without exception.

This means that the debt will at some point come to a screeching halt. Since it is impossible to pay, the failure to grow (failure to be able to borrow to pay the interest and failure to be able to refinance) means default. Included in the federal government debts are Social Security, Medicare, Medicaid, government employee pensions, and the bonded debts. Default is certain; what is not certain is the time it cannot be refinanced by some method. Another certainty is that neither Congress nor the President will rationally decide to end its growth; it will be market forces that end it.

The bonded debt of the federal government beginning with yearly data from 1900 forward matches a growth curve of 8.3% compounded annually. This curve will take the present ~$16 trillion in debt up to ~$32 trillion in 2021, just 8+ years in the future. This is not an opinion. This is a mathematical function; a continuation of a force in motion. This does not include the growth in the unfunded social security, medicare, and government employee retirement benefits which currently are 7 to 8 times larger than the bonded debt. Yet between now and 2021 economic growth in all probability will be stagnant or even negative, simply because the energy we use to fuel the economy is becoming so costly that it is choking economic expansion. Imagine yourself maxed out with debt, your income not growing or falling, and your debts doubling over the next 8 years.

The USSR did not survive its debt collapse in the 1990's and the ugly consequences was that millions of people dependent on it for survival quietly died. The Western press ignored that tragedy, but they won't be able to ignore the same thing here at home.

"Bend over and grab your ankles" should be etched in stone at the entrance to every government building and every government office.

S.O.D. (Sound of the Day)

There's barely a news article from today that doesn't reference it:

http://www.youtube.com/watch?v=zkvDEVdajAM

When we try to pick out anything by itself, we find it hitched to everything else in the Universe.
~ John Muir

Fold up the tents and send the clowns home

at least, until the next "show"... Coming soon, to a TV near you

my cspan

is off the air online. is anyone else having the same problem? all three channels.

It's time! Rand Paul 2016!

"Truth, Justice, and the American Way!"

The Deal Represents the GOP Leadership M.O.

Why are we shocked, or let down? The Republican party exists to give people the duopoly illusion they have a choice, while pushing for 70% of the same expanded government the Democrats are pushing for. "The difference between Democrats and us is they want to grow the government 20%, while we want to grow it 14%" (Dole, 1996). The Ryan budget plan in 2012 was about growing the government at about the two-thirds the rate the Democratic plan would, over the same period. Ron Paul pointed out the GOP leadership was opposed to even modestly cutting the rate of increase in military spending from 20% to 18%. And so on.

The special interests (big Biz/banksters, MIC, lobbies, etc) want the government growing at 14%-20% or more, so the politicians and media they control paint that as the 'mainstream' that sensible people must relent to, and the framework we must all be restricted to. The very purpose of the major parties IS to cut those 11th hour deals that keep the Total State government permanently going, growing, borrowing, spending and taxing, and never the reverse. Their very purpose is to keep the 'radicals' who object to any of this from winning, on behalf of the elite interests they actually represent.

Republicans Need A P.R. Firm!

The Republicans are too stupid to win a debt-ceiling debate. They can't launch a full scale media assault like is necessary. The GOP should have had their asses out in front of the camera's 24-7 setting the narrative.

Instead, this false "default" narrative has been completely established and the Republicans are taking the blame for it. Why? Because they're continually pathetic at using the media to establish their own narrative.

The polls show they lost the argument, granted that's to an even more clueless public, but they lost nonetheless. Me personally, I would have still not moved if I were in the House. You're standing in front of a bulldozer and daring it to move first. If the GOP had stood firm, what could the White House have done? At some point they would have had to negotiate.

At this point the best political way forward is to let Obamacare go and be fully implemented and be the disaster it is.

I Love It

This will only further split the republican party and give a chance for a more liberty friendly party to emerge. It also continues to allow the failure of this type of government to continue; so more people will realize said failure.

Ron Paul only became relevant after enough people became upset with the current system of politics. Maybe with even more people being upset then greater change can be accomplished.

At least I like to be an optimist.

It will be too late. the

It will be too late. the american sovereignty took a big hit when repubs agreed to grant obama administration more borrowing authority to continue driving us into continuous abyss of debt.

When talking about the debt - it is already too late.

There is no possible way to pay off the debt. I'm not saying we should make it worse, only that its already too much.

What can be regained eventually is liberty, and more people waking up every day will help. That is one place where its not too late.

Does this mean ...

no more protests at the national parks ?

Awww ... and I was just starting to enjoy the show
The term ( useful idiots ) is all I can think about.

Life is a sexually transmitted disease with a 100% fatality rate.
Don't Give me Liberty, I'll get up and get it myself!

It has to pass the house.

It has to pass the house. Didn't they already say it would not pass in the house?

Republicans govern from fear

Republicans govern from fear and not from convictions At the end of the day the Republicans are worse traitors to their constituents then the Democrats. The Democrats have no qualm about destroying liberty-- the republican do it because they lack guts

MObushwhacker

I want to pull my EFFing hair out.

So the "Republicans" make an effort to kill Obamacare by defunding it. The Democrats reject their efforts and government "shuts down". In the back and forth battle of the bills the debate turns to averting a default. So now they are going to pass a bill that avoids the dreaded default and uh, OH yes, it STRENGTHENS Obamacare.

Does it seem to anyone else like it always plays out like this? This is what Democracy gets you.

http://www.bloomberg.com/news/2013-10-16/senate-leaders-reac...

YES! This is what Democracy gets you.

Now, the Democratic process?
why don't we keep that as a check and balance on power?

methinks the words are connotative and denotative. but I am bad at math....

Take a look at Boehner's facebook comments!

Boehner posted this ludicrous comment:

Thank you for all of your support and encouragement. The House has fought with everything it has to convince the president to engage in bipartisan negotiations aimed at addressing our country’s debt and providing fairness for the American people under ObamaCare. Our fight will continue.

The comments underneath are about 98% pure white hot hatred and rage. Unbelievable.

We all want progress, but if you're on the wrong road, progress means doing an about-turn and walking back to the right road; in that case, the man who turns back soonest is the most progressive.

-C. S. Lewis

Facebook link

https://www.facebook.com/johnboehner/posts/10152323936225550

Sample:

David A. Bostick You let us down John! We will vote you out of office!
about a minute ago via mobile · Like

Dawn Waldrop John, You did good.
about a minute ago · Like · 1

Karen Lancaster We CAVED AND I'M ANGRY!!!
about a minute ago via mobile · Like

Leighton Reid Absolutely pathetic display, you may not have "won" the battle but at least you could have stood firm in our core principals and gone down swinging rather than playing Chamberlain. I'm done with supporting the RINO wing of the GOP.
about a minute ago · Like

Johnny Lloyd No spine... this will come to haunt the GOP.
about a minute ago · Like · 1

Michael Clark You have up the fight you are as weak as Obama
about a minute ago via mobile · Like

Richard E. Loberger It is a shame you switched parties on us. I do hope that e manage to get a man with conviction to take your place. Congress needs real men, not RINO's that feel stealing from my kids is fine. I will not support or fund republicans after you guys fail us tonight.
about a minute ago · Like · 1

Dee DeStefano I wish you knew how to fight. I lost all faith in you Mr Boehner. You are just as bad or maybe worst than Obama. Maybe this should be your last term.
about a minute ago via mobile · Like

Mark Edwin Sanders Your a RINO and make me sick, you sold out and soon you will be voted out.
about a minute ago · Like · 1

Aaron DeLaughter Your fired
about a minute ago via mobile · Like

Steve Smith I can't believe you gave in! Unreal. I live in Butler County and you can be assured that your political days are numbered. I know we can find someone in Butler County to replace you that has a spine. So enjoy your golf trips with Obama!! You will both be in the unemployment line soon!!
about a minute ago · Like

Ugochukwu M Duru You are an incompetent bastard, think about what history will write about you and your administration. As a nation we have ways of doing things, if you want to repeal Obamacare elect a Republican as a president then go through the process. Affordable health care is the law of the land passed by the supreme court and signed by the President of the United States of America if all you morons don't like to bad.
about a minute ago via mobile · Like

Bro Paul Jussen You are just another turncoat!
about a minute ago via mobile · Like

Cat Jacob Screw you, like you screwed us.
about a minute ago · Like · 1

Pat Wellinsky mr speaker you had us at the words no way, but why did you guys back out. you should know Obama is more scared of the tea party, you guys should stick together. may be it's more about wanting something so bad your not willing to give it up so easily. please try harder on anything else that comes your way.

The Diamond Dog is a real cool cat. | Reporting on the world from an altitude of 420.

Republicans govern from fear

Republicans govern from fear and not from convictions At the end of the day the Republicans are worse traitors to their constituents then the Democrats. The Democrats have no qualm about destroying liberty-- the republican do it because they lack guts

MObushwhacker

Exactly as I predicted...

Damn I'm good. Unfortunately we are all fuct again.

Darnit, why cant we just get

Darnit, why cant we just get the crash and everything overwith. Instead they have to drag this out.
Its like leaving a band-aid on because it hurts to pull it off while you have an infection beneath that needs doctoring.

To climb the mountain, you must believe you can.

Gotta keep the war machine

Gotta keep the war machine funded in case Iran steps out of line.

http://m.washingtonpost.com/world/national-security/iran-nuc...

Our constitution was made only for a moral and religious people. It is wholly inadequate to the government of any other.

John Adams