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Happy in the hills
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Discussion Starter · #1 ·
I don't know how many of you watch the debt, or market-ticker, but here is a look at some funny goings on.

Did Treasury Just Strategically (Intentionally) Default? - MarketTicker Forums

Note that the pink line did not move much. In fact, it went down.

It should have gone up - a lot - because the "Trust Funds" (you know, Social Security and Medicare?) that you folks on the left keep bleating about being "money good" and "actual debt" had a coupon payment from Treasury due yesterday.

IT WAS NOT MADE.

IF IT HAD BEEN, IT WOULD HAVE BLOWN THE DEBT LIMIT.

That's a default, and it instantaneously destroys both the claim that such activity is not "selective" or, if you prefer, "strategic" and it also destroys the argument that Medicare and Social Security Trust fund "debt" - not just public debt - is subject to the 14th Amendment and thus is "protected" against the Treasury choosing to blow it off.

By the way if you're curious about how much this should amount to (~$90 billion, more or less) have a look at the June 30th, 2010 DTS statement.

Oh, and as for Geithner? He said that any default on any obligation would trigger an immediate market panic. Well, this did - straight up on the S&P and DOW. So much for Timmy's lies.
 

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The Future?
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If reducing the debt is this easy they might as well keep going!
 

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Just getting started. Always.
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Wow, Im not really sure what to say about this. I posted this to FB, and my comment was :
Boy oh boy. Im glad noone pays any attenion to stuff like this. We would be in a world of hurt.
Will they pull some more accounting bs over the weekend to hide this?
The founding fathers would be rolling over in their graves.
 

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Hey, someone should email Gov. Dayton of Minnesota---he could use this trick about now!!!:ignore:
 

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Banned
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Info from one source said this happens on June 30th and again on Dec 31st.
It is an indication of the shape we are in but just normal opperating procedure for the govt.
 

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Member
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IMO they are estimates each month anyway. No way can the cash line be balanced each month when we're talking trillions!

That's $13,000,000,000,000. 12 ZEROS !!!!! :gaah::gaah:

I can't comprehend that number in real life terms....:dunno::dunno:

Jimmy
 

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Happy in the hills
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Discussion Starter · #7 ·
Info from one source said this happens on June 30th and again on Dec 31st.
It is an indication of the shape we are in but just normal opperating procedure for the govt.
Isn't that technically against the law? Or at least the 14th amendment? Thanks for bringing this up, I didn't know they fudged the numbers every 6 months.

I wonder if they pay it later, or if it's just skipped? I'll have to watch the numbers today.
 

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Banned
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IMO they are estimates each month anyway. No way can the cash line be balanced each month when we're talking trillions!

That's $13,000,000,000,000. 12 ZEROS !!!!! :gaah::gaah:

I can't comprehend that number in real life terms....:dunno::dunno:

Jimmy
That would be a big pile of cash.
Don't think I have ever seen 13,000,000,000,000 of anything. The ants in my yard might be as close as I will ever see.
 

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That would be a big pile of cash.
Don't think I have ever seen 13,000,000,000,000 of anything. The ants in my yard might be as close as I will ever see.
Yep...good one....:thumbraise::D

Jimmy
 

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Just getting started. Always.
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Now they are questioning the legality of the debt ceiling, saying it may be unconstitutional.
Look! Theres something shiny!
 

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That would be a big pile of cash.
Don't think I have ever seen 13,000,000,000,000 of anything. The ants in my yard might be as close as I will ever see.
I have .............. FIRE ANTS LOL
 

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Seeking The Truth
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I forgot the name of the ants in my yard. They ran the fire ants off. Now I just wish I had fire ants.
Big black and red ants are carpenter or cow ants.They bite and its ike a bee sting.They have been known to kill cattle,very aggressive.
 

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Big black and red ants are carpenter or cow ants.They bite and its ike a bee sting.They have been known to kill cattle,very aggressive.
The ants I now have are very small. They have never stung me or bit me. They will eat plants but would rather have meat. They can kill a 6' tomato plant in one night and also kill small newborn animals and birds. Much worse than fire ants. They don't have one hill, they build many different nests covering large areas.
 

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Do people realize the U.S. has been in debt ever since it became a country. For a period of approximately 1 year we were out of debt. That was in 1835. We have not been out of debt since then.
The last time we paid one cent on the gross federal debt was 1957. Now we are borrowing money to pay the interest on the debt we already owe. Along the way when we borrow to pay the interest we tack a little extra on for the politicians.
 

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Aesops Ant (not Aunt)
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Do people realize the U.S. has been in debt ever since it became a country. For a period of approximately 1 year we were out of debt. That was in 1835. We have not been out of debt since then.
The last time we paid one cent on the gross federal debt was 1957. Now we are borrowing money to pay the interest on the debt we already owe. Along the way when we borrow to pay the interest we tack a little extra on for the politicians.
Sounds good to me... we just need to keep doing this til nobody will let us borrow money then we just go to war with anyone who tries to collect? I really dont know how this would work. Im just being sarcastic.

Government is always in debt because government (any government) doesnt produce a damn thing they are always a cost... a liability on the balance sheet. The only way the government can pay for something is to take it from someone who actually produces.

The answer is to cut governement down to absolute bare essentials (read: national defense) and let the states cut themselves to bare essentials (read: infrastructure like roads and the like) and let the people of this great nation do what they do best: FIGURE IT OUT - USING THE MUSH BETWEEN THEIR EARS AND THE SWEAT OF THEIR BROW. That is how our nation was formed.
 

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If the politicians not wanting to raise the debt ceiling will just hold out we might get to cut back on a lot of the fluff. I don't have any doubt they will cave in. Somehow they will make it look and sound like, to most people, they both won the battle. The real problem is many will believe them.

Good to see you back.
 

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Supporting Member
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If the politicians not wanting to raise the debt ceiling will just hold out we might get to cut back on a lot of the fluff. I don't have any doubt they will cave in. Somehow they will make it look and sound like, to most people, they both won the battle. The real problem is many will believe them.
I'm afraid of the same thing. :gaah:
 
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