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Risk Of "severe Shock" To World Markets If Us Debt Ceiling Not Raised

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http://www.zerohedge.com/article/obama-redirects-broke-us-government-playing-class-warfare-card-focuses-millionaires-and-bill

In what appears to be an increasingly tenuous attempt to redirect focus from terminal federal government failure through the imposition of yet another round of class antagonism, Barack Obama, as part of his earlier address to the nation, stressed that more revenue "must be part of any deficit-reduction deal" and criticized Republicans for protecting tax breaks for "millionaires and billionaires" in the process even invoking users of corporate jets (despite that fact that he himself boasted using the $56,000/hour taxpayer funded Air Force one to travel the 110 mile distance between Washington DC and Williamsburg, VA).

Nice, why take the limo when you can fly.

What they are more fearful of is that if the debt ceiling doesn't get increased the whole ponzi fraud of economic expansion will be exposed. The ceiling will be increased but this will then mean the final collapse will be even bigger and people will be seen to lose even more fictional value.

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What they are more fearful of is that if the debt ceiling doesn't get increased the whole ponzi fraud of economic expansion will be exposed. The ceiling will be increased but this will then mean the final collapse will be even bigger and people will be seen to lose even more fictional value.

May as well just set the ceiling at infinity to match their spending habits.

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If only the captain of the Titanic had thought to hit another iceberg it would have solved everything.

Greeces debt problems seemed to be solved now they have more debt, if its good enough for the Greeks its got to be good enough for the rest of us.

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If only the captain of the Titanic had thought to hit another iceberg it would have solved everything.

Greeces debt problems seemed to be solved now they have more debt, if its good enough for the Greeks its got to be good enough for the rest of us.

Yes it's one of those Epiphany moments............... debt is the answer!!

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Yes it's one of those Epiphany moments............... debt is the answer!!

It's coming around again. I think the ceiling has been raised 103 times in 96 years.

27 August 2013

US Treasury to reach debt ceiling in mid-October

The US Treasury Secretary Jack Lew has said that the country will reach its debt limit by mid-October and called on Congress to act "as soon as possible" to avoid such a situation.

The government will not be able to borrow if the limit is not raised.

He warned that in such a case it will be unable to meet obligations such as social security payments, military salaries and Medicare reimbursements.

The country's borrowing limit is currently capped at $16.7tn (£10.7tn).

"Extraordinary measures are projected to be exhausted in the middle of October," Mr Lew said in a letter to House Speaker John Boehner and other lawmakers.

"At that point, the US will have reached the limit of its borrowing authority, and Treasury would be left to fund the government with only the cash we have on hand on any given day," he said.

The cash balance at that time is forecast to be about $50bn, which Mr Lew said, would be "insufficient to cover net expenditures for an extended period of time".

more http://www.bbc.co.uk/news/business-23845905

http://en.wikipedia.org/wiki/United_States_debt-ceiling_crisis_of_2011

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It's coming around again. I think the ceiling has been raised 103 times in 96 years.

Its just another means by which the elite can control market timing by stealth in order to farm small investors.

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They are quickly running out of time. It has gone exponential and they need to raise the debt ceiling every couple of months now, it will not be long before they have to raise it every couple of weeks, and then every couple of days.

There really is no way out for these *******. I expect things to get very nasty very quickly.

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It's coming around again. I think the ceiling has been raised 103 times in 96 years.

Of course, the US could cut it's vast military spending..

Or raise taxes on rich people.

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I think denninger and a couple other commentators noted the debt hasnt risen since may or june, and that instead money was being 'stolen; from retirement accounts. That was supposed to be exhausted by october time, so I guess theyve been spending bigger than expected.

War, taper, debt ceiling. September could be an interesting month.

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  • 309 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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