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The Debt Crisis Of 2017: Once Their Vacation Ends, Congress Will Have 4 Days To Avoid A Government Shutdown On April 29

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April 2017 could turn out to be one of the most important months in U.S. history that we have seen in a very long time.  On April 6th, Donald Trump attacked Syria on the 100th anniversary of the day that the U.S. officially entered World War I, and now at the end of this month we could be facing an unprecedented political crisis in Washington.  On Friday, members of Congress left town for their two week “Easter vacation”, and they won’t resume work until April 25th.  What this means is that Congress will have precisely four days when they get back to pass a bill to fund government operations or there will be a government shutdown starting on April 29th.

Up to this point, there has been very little urgency by either party to move a spending bill forward.  It is almost as if everyone is already resigned to the fact that a government shutdown will happen.  The Democrats will greatly benefit from a government shutdown because they can just blame the entire mess on the Republicans.  But for the GOP, this is essentially the equivalent of political malpractice.

To me, there is simply no way that Congress is going to be able to agree on a bill that funds the entire government in just four days.  And it turns out that this upcoming deadline comes exactly on the 100th day of Trump’s presidency

The U.S. government is poised to shut down on Day 100 of Donald Trump’s presidency, unless Congress can pass a new spending bill or a continuing resolution before the current one expires on April 28.

Since Congress is currently on a two-week recess, there will be a sense of urgency to get a new bill passed once they reconvene on April 25. Leaders in both chambers would have four days to craft a new proposal that each side can agree on and get it on the president’s desk for Trump to sign.

If the Republicans control the White House, the Senate and the House of Representatives, why will it be so difficult to get an agreement on a spending bill?

Well, first of all, look at how difficult it was for the Republicans to agree on a bill to repeal and replace Obamacare.  At this point, it doesn’t look like that is going to happen at all.

More importantly, any bill to fund the government is going to require 60 votes in the Senate.  The “nuclear option” that the Republicans just used to push the Gorsuch Supreme Court nomination through is not available in this case under current Senate rules because a spending bill of this nature would not qualify.

So the Democrats have leverage, and they plan to use it to the maximum.  Senate Minority Leader Chuck Schumer is already promising to block any spending bill that includes funds for a border wall or that defunds Planned Parenthood

The threat from Senate Minority Leader Chuck Schumer and other Democratic leaders sets up a climactic first showdown with the president, particularly with their inclusion of Trump’s signature border wall proposal.

“If Republicans insist on inserting poison pill riders such as defunding Planned Parenthood, building a border wall, or starting a deportation force, they will be shutting down the government and delivering a severe blow to our economy,” Schumer said in a statement.

Up until now, Trump hasn’t needed Democratic votes to stock his cabinet or advance the repeal of Obamacare, but a spending bill keeping the government open is subject to a 60-vote threshold in the Senate.

Do you understand what this means?

President Trump is going to be under an immense amount of pressure to end the government shutdown once it begins, but to do so will mean that he has to give up his goal of getting a border wall.

Do you think that Trump will just throw in the towel and forget about his beloved border wall after giving countless speeches promising one?

It is a game of chicken between Trump and the Democrats, and I don’t think that either side will give in easily.

Of even greater importance is the debate over the funding of Planned Parenthood.

There are members of the Freedom Caucus that will absolutely not vote for any spending bill that includes funding for Planned Parenthood.  But without the Freedom Caucus, there aren’t enough Republican votes to get a spending bill through the House of Representatives.

Alternatively, Senate Minority Leader Chuck Schumer is vowing that his party will block any funding bill that attempts to defund Planned Parenthood in the Senate.

If Planned Parenthood is not defunded now, it never will be defunded.  This is one of the most pivotal moments in recent U.S. political history, and the outcome is going to have extraordinary consequences for our nation.

For those that are optimistic that there will not be a government shutdown, do you actually expect me to believe that this battle over the funding of Planned Parenthood will somehow get resolved in just four days?

Give me a break.

And of course there are dozens of other major issues that have to be resolved as well.  For example, Senator McCain is promising note to vote for any bill unless it includes an enormous increase in military spending, while many Senate Democrats would be very much against such a move.

I don’t see any way that a government shutdown is going to be avoided at this point, and the longer it goes on the more financial markets are going to get rattled.

Meanwhile, we continue to get even more signs that a substantial slowdown has begun for the U.S. economy.  Last week, we learned that only 98,000 jobs were added in March, and that was only about half of what most analysts were expecting.

And since it takes approximately 150,000 jobs a month just to keep up with population growth, that means that we are losing ground.

At the same time, the Atlanta Fed’s GDPNow forecasting model is now projecting that U.S. GDP growth for the first quarter of 2017 will be just 0.6 percent on an annualized basis.

That is absolutely pathetic, and as I have said before, I wouldn’t be surprised at all if we actually end up with a negative number for the first quarter.

If we do indeed get a negative number for the first quarter and that is followed by another negative number for the second quarter, that will mean that a new recession has already started right now but we just haven’t gotten official confirmation yet.

And lots of other things are already happening which have not happened since the last recession.  For instance, this is the first time since the last financial crisis when there has been no growth for commercial and industrial lending for at least six months.

In addition, commercial bankruptcies spiked during the last recession, and now it is happening again

Commercial bankruptcy filings, from corporations to sole proprietorships, spiked 28% in March from February, the largest month-to-month move in the data series of the American Bankruptcy Institute going back to 2012.

Of course consumer bankruptcies are rising at an alarming rate as well.  The following comes from Wolf Richter

In December, bankruptcy filings rose 4.5% from a year earlier. In January they rose 5.4%. It was the first time consumer bankruptcies rose back-to-back since 2010. I called it “a red flag that’ll be highlighted only afterwards as a turning point.”

In March, consumer bankruptcy filings rose 4% year-over-year, to 77,900, the highest since March 2015, when 79,000 filings occurred, according to the American Bankruptcy Institute data.  The turning point has now been confirmed.

If you would like, I could keep talking about the bad economic news for a couple thousand more words.  U.S. credit card debt has just surpassed the one trillion dollar mark, a major crisis has arrived for the U.S. auto industry, thousands of retail stores are closing all over America, our pension funds are underfunded by trillions of dollars, and the U.S. national debt is now sitting at a grand total that is just shy of 20 trillion dollars.  The only reason that we have not crossed that 20 trillion dollar mark yet is because the debt ceiling deadline has already passed, and that is another thing that Congress needs to address very quickly if they want to avoid a major crisis.

Needless to say, the last thing that we need at this point is another war or two on top of everything else.

Unfortunately, a U.S. aircraft carrier strike group headed by the USS Carl Vinson is heading toward North Korea right at this moment, and Russia and Iran are promising to “respond with force” to any new U.S. attacks on Syria.  I will be writing quite a bit more about all of this on End Of The American Dream later today.

Those that were hoping for some sort of “reprieve” under Donald Trump can forget all about that now.  The pace of global events is really starting to accelerate, and the U.S. is already in a more precarious position than it was at any point in 2016.

The clouds have been building for a very long time, and now the storm is almost upon us.  I hope that you have been getting prepared, because a day of reckoning for the United States of America is closing in very rapidly.

 
  • Guest

    I really don’t know what to make of Trump. He’s either a deceiver or he has already surrendered to the Deep State. I did not vote for him. I did not vote in the last election because I knew that it didn’t matter who became the next president. The president is just a puppet doing the bidding of the globalists.

    • HE WILL NOT DIVIDE US

      Kushner runs the show…

      • socalbeachdude

        Kushner needs to be fir3ed along with that idiot wife Ivanka. They are both an extreme embarrassment to the country and utter imbeciles.

        • awb22

          Jealous, much? It’s funny you would call someone an imbecile, Patel.

          • socalbeachdude

            What’s a “Patel?”

          • LIZ THE SHIZ

            the guy’s obviously a Brit of some kind and a Patel is a slang insult against Indians or non-whites

          • FirstGarden

            A man from India. In retail, they were among our very worst customers. There are some exceptions, though… somewhere.

      • awb22

        What complete and utter nonsense!

      • Poptoy1949

        Almost. It is who Kushner represents that is the Evil behind everything called Global.

      • LIZ THE SHIZ

        he is a possible Mossad agent doing Israel’s bidding from within , did you see the video clip where Bibi Netanyahu commenter he knew Jared since he was a small child

    • The Real Farmer

      You are full of horse scheit.

    • anonymous

      Remember when Obama was first “elected,” I felt the same way I do now. I want to believe everything Trump promises, but you don’t get to where he is without owing favors. I guess we’ll find out soon enough huh….

      • SnodtBlossom

        Hillary would have been soooo much better

        • SnodtBlossomSucks

          I guess we’ll never know. Bwahahahahaha!!!!

          • SnodtBlossom

            a shame really

          • awb22

            Not really

          • SnodtBlossom

            no really

          • awb22

            I disagree.

        • anonymous

          I love the sarcasm.

  • FirstGarden

    “And it’s a hard rain’s a-gonna fall.”
    – Bob Dylan

    “When it all comes down
    I hope it doesn’t land on you
    When the truth is found
    I hope it will be true to you.”
    – Hoyt Axton

  • Guest

    Jared Kushner, Trump’s son-in-law, owns an office building in New York City located at 666 5th Avenue. As most here already know, Kushner is an adviser to his father-in-law. One of the things Kushner is responsible for in his role as an adviser to the president is Middle East policy. Hmmm. Interesting.

    • socalbeachdude

      #FireKushner Dominates Twitter

      http://dailycaller.com/2017/04/07/firekushner-takes-over-twitter/

      Donald Trump needs to get rid of that stupid son-in-law Jarred Kushner and his imbecilic daughter Ivanka from any official role whatsoever in the Trump Administration. Both of those imbeciles have proven to be far more than just an inane distraction and annoyance. Both Ivanka and her stupid husband apparently are not capable of analyzing facts at all and are pushing Donald to react on issues based on PERCEIVED PUBLIC OPINION and that poses a very serious threat for the credibility of the Trump Administration.

      • awb22

        Once again with the British perspective, eh, Patel?

        • socalbeachdude

          Huh? What I stated is a very American perspective shared by many if not most Americans. What’s a “Patel?”

          • awb22

            That’s your name, D Patel.

          • socalbeachdude

            Huh? I never heard of that name before and Liz below says that “Patel” is UK racist insult to non-white people. Why are you putting up racist insults here?

          • Babycatcher

            Patel is a derogatory term for a convenience store owner or cheap motel owner. The name is Indian (think Mumbai) and many shop/ businesses are owned by Patels. We were told by the local motel owner ( yes, he’s a Patel) that it is like the name Smith in America.

    • Cinderella Man

      Oh my God!!!!! Trump’s son in law is de debbil!!!

    • GSOB

      You find being superstitious, interesting…. now that’s interesting.

  • Mark

    Jesus is the Way, the Truth and the Life. Our only hope is in Him.

    • Guest

      Amen, Mark. Believers need to become more prayerful and watchful than ever.

      • Carl

        When has the prayers of a group of believers to change conditions on this earth ever actually happened? If a group of believers prayed for an end to debt slavery would your god honor this prayer? If he would, then what are you waiting for? Prove gods power by praying to end poverty in Africa. Or pray to stop the toxic dumping of waste by corporations into third world countries. Or start here at home and pray to end animal or child abuse.

        None of these things will happen. Instead christians pin there hopes that god answers prayers on the trite and mundane. Thus fooling themselves into believing that prayer actually works. If it did work I would assume christians would prayer for big things to help humanity.

        I had 5 cases of old people who were sick and dying in the past 2 months. For each of these people everyone said they were praying. IN only 1 case did the person get a reprieve from their illness.

        People ignored the 4 failed prayers which resulted in death for said people and not healing and attributed the 1 case of someone actually leaving the hospital as evidence that prayer works.

        Yet no comment about the failed prayers for the other 4.

        So people pick and choose their supposed god answered my prayer theory and ignore the failed attempts.

        Jesus said that anything you ask in his name will be given to you. There are no stipulations to this statement. Yet we know that it is not true and people make excuses for this very direct statement of fact. Why put that in the bible if it is a lie?

        • awb22

          If it was God’s will that hunger end in Africa, it would be done. The stipulation is that what is prayed must be in alignment and harmony with his will, or one could pray for you to die, and it would be so. Where is the godly profit in that?

          You pick and choose what you will to criticize the truth, without any understanding.

          • Carl

            “The stipulation is that what is prayed must be in alignment and harmony with his will.” THAT IS NOT WHAT YOUR JESUS SAID. HE SAID ANYTHING YOU ASK FOR IN HIS NAME WILL BE GIVEN – NO STIPULATION.

            Yeah god really enjoys watching human beings starve to death apparently, BUT he really has the USA’s back because we need more fiat spending on cheap junk to make the world go round.

          • Cinderella Man

            Mouth full of Muslim. Rape any kids today Carl?

          • GSOB

            Notice how you are only concerned about the things in the world. What about the soul?

          • Troll Patrol

            Let me ask you, you should know.
            How does S a t a n ‘ s d i c k taste?

        • GSOB

          ….”When has the prayers of a group of
          believers to change conditions on this earth ever actually happened?”….

          John 3:7

          Daily prayer gives Christians an opportunity to share all aspects of
          one’s life with God.

          Believers prayers and deeds can make a difference! Christians can even pray for the salvation of someone who does not love the Lord.

          1 Corinthians 16:22

          God might answer by giving that person a new heart, spiritual rebirth.

          Salvation is due to God’s sovereign grace alone, not prayers, words, or deeds. But, surely Jesus wills to use them to build His church and bring in His kingdom. Predestination does not render prayers and actions pointless.

          If God wills the end, He also wills the means.

          Daily prayer is an act of worship and obedience. Because He is all wise and all powerful, knowing “the end
          from the beginning” (Isa. 46:10), He’s able to weave believers prayer requests into his eternally good purposes.

          ….”If a group of believers prayed for an
          end to debt slavery would your god honor this prayer?”….

          God does not answer our prayers if they are not according to His will. But, there is a soul salvation in Christ for repentant sinners.

          ….”If he would, then what are you waiting for?”….

          Isaiah 40:31
          “But they that wait upon the LORD shall renew their strength; they shall mount up with wings as eagles; they shall run, and not be weary; and they shall walk, and not
          faint.”

          ….”Prove gods power by praying to end
          poverty in Africa.”…..

          Luke 4:12

          ….”Or pray to stop the toxic dumping of
          waste by corporations into third world countries.”….

          Luke 24:47

          ….”Or start here at home and pray to end animal or child abuse.”…..

          Romans 3:23
          For all have sinned, and come short of the glory of God…

          ….”None of these things will happen.”…..

          John 15:5

          ….”Instead christians pin there hopes that god answers prayers on the trite and mundane.”……..

          Define what is trite and mundane….
          Ps 89:7

          …..”Thus fooling themselves into believing that prayer actually works.”…….

          Prayer is the vehicle for daily
          dialog with the One who created us.
          Daily prayer gives Christians the
          chance to express gratitude for the things in life that He provides.

          Colossians 2:6-7

          …..”If it did work I would assume
          christians would prayer for big things to help humanity.”……

          1 John 1:8
          If we say we have no sin, we deceive ourselves, and the truth is not in us.

          Mark 16:15-16
          Matthew 28:20 Hebrews 11:6

          …..”I had 5 cases of old people who were sick and dying in the past 2 months.”…….

          Job 14:4
          “Who can make the clean out of the unclean? No one!

          Job 25:4
          “How then can a man be just with God? Or how can he be clean who is born
          of woman?

          …..”For each of these people everyone said they were praying.”…….

          Who and how many is everyone?

          Proverbs 20:9
          Who can say, “I have cleansed my heart, I am pure from my sin “?

          Ecclesiastes 7:20
          Indeed, there is not a righteous man on earth who continually does good and who never sins.

          ….”IN only 1 case did the person get a
          reprieve from their illness.”……
          Romans 9:14

          …..”People ignored the 4 failed prayers
          which resulted in death for said people and not healing and attributed the 1
          case of someone actually leaving the hospital as evidence that prayer works.”………..

          Genesis 18:25

          …..”Yet no comment about the failed prayers for the other 4.”…..

          Deuteronomy 29:29
          “The secret things belong to the LORD our God, but the things revealed
          belong to us and to our sons forever, that we may observe all the words of this
          law.

          ….”So people pick and choose their supposed god answered my prayer theory and ignore the failed attempts.”………

          James 5:16

          Job 13:15

          Luke 17:17

          ….”Jesus said that anything
          you ask in his name will be given to you.”……….

          Who was Jesus talking too?

          ….”There are no
          stipulations to this statement…..”

          Luke 16:15

          Acts 1:24

          ….”Yet we know that it is not true and people make excuses for this very direct statement of fact. Why put that in the bible if it is a lie?”….

          2 Timothy 3:16-17
          Romans 15:4

          No privilege is greater than that of approaching God in the name of His Son; no blessings of salvation can be conferred on any who do not come in His name.

        • Troll Patrol

          You wouldn’t believe even if you witnessed miracles and answers to prayer. You are one d a m n-E D soul.
          By your own choice.

        • Gay Veteran

          interesting how “god” never regenerates the limbs of amputees

    • NO. He ain’t coming anytime soon..once its all done…he will come

      • awb22

        He will come, and restore order is the only thing that matters, not the timing.

      • SnodtBlossom

        there is no god

        • James Staten

          You should go to the new movie “The Case For Christ”. They were just like you

          • Carl

            Take your case for christ along with cinderella up there and shove it up your phony collective rears.

          • James Staten

            Jesus does Love You and Snottly. 1 Corinthians 15:1-4

          • Carl

            Why don’t you reign in your brethren cinderella with some good bible quotes. After all he is one of your own.

          • James Staten

            If need be, then the Lord will do it.

          • Troll Patrol

            Truly, truly, EVIL resides in your bosom.

          • Carl Is Evil

            Imagine the absolute horror of waking up & looking in the mirror and seeing that you are Carl.

        • Daddyotis

          There is no Madame President Hillary Clinton.

          BWAHAHAHAHAHAHA!!

          • SnodtBlossom

            Hillary would have been a better president.

          • SnodtBlossomSucks

            NOT.

        • Troll Patrol

          Oh SHUT UP!!!

          • SnodtBlossom

            no

          • SnodtBlossomSucks

            YES!!!

          • GSOB

            Purple was more attractive

        • FirstGarden

          “Only fools say in their hearts, ‘There is no God.’ They are corrupt, and their actions are evil; not one of them does good!”

          Psalms 14:1

        • SnodtBlossomSucks

          Your God is Lucifer.

    • Carl

      Hope for what? What does believing in your jesus change here on earth? What will he do on earth that will change the the future for people suffering on April 10, 2017? What did he do for those suffering 80 plus years ago that are now dead and buried?

      • awb22

        Hope for salvation.

        • Cinderella Man

          Carl is a sex offender he’s not worth replying to

          • Carl

            Just proves my point about christians with every lie you tell cinderella girly man. God exists only in the brainwashed minds of human beings. Whom as we see are still capable of spreading vindictive, vicious lies.

          • Cinderella Man

            This Christian winks at sexer POS like you Carl from the smart end of my rifle. Carl I would love to meet you in real life. Let’s have it out man to sex offender. I’m willing to exchange numbers. But I know you won’t cuz you’re a keyboard warrior you’re real tough punching those buttons attacking Christians and children but you would wet yourself in real life.

          • Carl

            More than likely you are the sex offender you claim to hate so much. Many new stories have been written to show sometimes those who profess to hate something so much are doing the very thing they hate.

            Again what were their ages Cindy?

          • Cinderella Man

            They were Muslim children sex offender Carl. Hey I bet you’re just delighted at the news that your fellow rapists and murderers ahem Muslims killed a bunch of Christians yesterday in Egypt. Call me Cindy all you want you sex offender scumbag. The offers open to meet up in real life keyboard online predator

          • Troll Patrol

            Yup. Carl hates Christians too.
            He has an agenda to disrupt and ruin any good thing.

          • Troll Patrol

            Go back to your black mass, evil one.

          • Troll Patrol

            You are exceedingly putrid soul rot.

            Dark and wicked to the core.

      • Troll Patrol

        You are only here to argue, not for answers. You are the most disingenuous being to ever crawl the earth.

  • Chappie

    All bow down to Mossad President Jared Kushner and First Lady Ivanka. Bwahahahahaha!!!!

  • pulltheweeds

    Trump is gambling on the Ronald Reagan playbook. With a little bit of Theodore Roosevelt for good measure.

  • Orac4Prez

    Wait until congress isn’t paid. Then they might start to worry. Anyway, he’s off to war and doesn’t care.

    • Guest

      During a government shutdown, members of Congress still get paid. But most Congressional staffers don’t.

      It’s a win-win situation!

      /sarc

  • FirstGarden

    I wasn’t under the impression that vacation ever ended for congress.

  • Bill

    Congress takes a two week recess and allows four days to settle on a budget of immense importance. Tells me they have their heads where the sun doesn’t shine.

  • trump the king of dept

    putin just called trumps bluff,so he’s gonna need trillions in cash for fresh new wars on multiple fronts,and if trump doesn’t fight he’ll spend 4 years getting smacked around like a girl the way Obama did

    • socalbeachdude

      There are no “trillions in cash” for any more warmongering and the US government ran a $1.4 deficit last year in Fiscal 2016 and is on track to run in excess of a $1 trillion deficit again this year in Fiscal 2017. They can’t even run up more than $20 trillion where the federal government has hit its debt ceiling without either suspending that debt ceiling once again or significantly increasing it.

      • awb22

        sure there are, it’s just 0’s and 1’s in a ledger.

        • socalbeachdude

          Absolutely false. The US government has no power or authority whatsoever to create any money and must raise money either through 1) higher federal taxes and fees, or 2) borrowing more money in the US Treasuries markets where it has already run up a $20 trillion debt. Until and unless the federal debt ceiling is either substantially increased or suspended the federal government cannot issue more net new US Treasuries.

          • Spatial Memory

            To the homeschooled money, currency and capital are interchangeable synonyms on blogs. ROFL

          • socalbeachdude

            Your extreme ignorance is mind boggling.

          • GSOB

            Another point with a meaningless distinction made.

          • socalbeachdude

            Huh?

    • alan

      I see the same thing. We are our own worst enemy.

    • Cinderella Man

      Putin got punked with no response Trump showed the world America is back and the leader has ballz

      • socalbeachdude

        What utter and total nonsense.

      • Gay Veteran

        we’re a declining empire

  • socalbeachdude

    Why is Congress on “vacation” when this crucial issue is facing the US and Congress is the only party that has the authority to address it and authorize spending?

    • David

      Congress doesn’t care. they get paid regardless if the rest of us have to suffer the consequences of a shut down.

      • socalbeachdude

        They’re not there to get paid and nearly all are multi-millionaires so they don’t really care if they get paid or not as to their meager salaries. They’re there to RUN THE COUNTRY AND ITS BUDGET and that is what they are failing to do.

        • GSOB

          To protect the peoples is the primary function of government. Not ‘run’ the country and re-distribute wealth.
          You are still a hardcore, FRB loving socialist who thinks he’s a capitalist.

          • socalbeachdude

            You just don’t get it at all, do you?

  • socalbeachdude

    The looming budget disaster, in four charts

    The Congressional Budget Office in its 2017 Long-Term Budget Outlook issued a dire warning to D.C. policymakers about the likely consequences of continued inaction on the budget deficit.

    Thanks largely to the growing costs for programs like Medicare and Social Security, the federal debt will reach 150 percent of gross domestic product by 2047, the CBO projected, up from an expected 77 percent at the end of this year. CBO projections assume that federal policy stays the same and calculates outcomes based on the expected changes in other factors like health-care costs, interest rates, productivity growth and labor force participation.

    That 150 percent expected debt level is based on the most likely value for each of those variables. For example, as the Fed raises interest rates from historic lows, the existing debt will be more expensive to finance. Health-care costs are expected to continue to grow faster than inflation. If economic circumstances are worse than expected, public debt could balloon even faster.

    http://www.cnbc.com/2017/03/31/cboinfourcharts-fahey-170330-dc-.html

    Comment: This utterly clueless report from the CBO apparently doesn’t realize that the US federal debt of $20 trillion is now already 107% of US GDP of $18 trillion and that the only 3 interest rates set by the Federal Reserve have no bearing whatsoever on the interest that the US government has to pay on its federal debt which is all established by the yields (interest rates) in the US Treasuries markets which have been soaring upwards since last July. How can the CBO be so totally clueless and state such stupidity publicly?

  • socalbeachdude
    • GSOB

      There is no balancing the budget. There is no way to pay off the debt.
      When will people acknowledge that? The system and government needs to be reformed.

      • socalbeachdude

        It is EXTREMELY EASY to balance the federal budget with the options I have provided above.

        • GSOB

          When was the last time you exercised? Can you run a mile in under 8 minutes?

          • socalbeachdude

            I have no interest in “exercise” at all.

  • socalbeachdude

    Global debt now exceeds $220 trillion of which only about $67 trillion is in the US and only about $20 trillion of that in the US is debt of the US government.

  • socalbeachdude

    Trump’s Budget Versus the Debt Ceiling

    When President Donald Trump announced his skinny budget last week, Wall Street analysts and Washington insiders pronounced it “dead on arrival.”

    “The proposal should be seen as a starting point for congressional negotiations,” Goldman Sachs wrote in a note to clients. Appropriations bills need a minimum of 60 votes, eight of which will need to be Democratic, to pass the Senate.

    Since Democratic Senators have adopted a strategy of resisting Trump at every point, it would be even more remarkable if they endorsed his massive cuts to the Environmental Protection Agency (EPA), the Department of Agriculture, and the Department of Labor.

    If tax cuts and infrastructure spending are executed wisely, they will lead to more robust growth and fiscal revenue down the line—but not in the short term.

    In the short term, these measures will boost deficits, which have to be financed by more debt. This will no longer be possible, however, since the 2015 temporary public debt extension expired on March 15.

    If Trump wants to issue more debt, he will have to broker a deal with Congress to raise the debt ceiling to well beyond the $20 trillion we carry now

    http://www.theepochtimes.com/n3/2234488-trumps-budget-versus-the-debt-ceiling/

    • GSOB

      And then approved, and let the currency printing continue.

      • socalbeachdude

        There is no “currency printing” in the US.

  • socalbeachdude

    $20 trillion debt deserves as much attention as DOW 20,000…

    http://nypost.com/2017/03/20/20-trillion-debt-deserves-as-much-attention-as-dow-hitting-20000/

  • socalbeachdude

    MUCH HIGHER INTEREST RATES ON US FEDERAL DEBT

    Get Ready for a “Credit Implosion” – Justin Spittler

    The world’s biggest financial bubble just popped. We’re talking about the bond market. This is where companies and the government borrow money. It’s about twice as big as the stock market. In other words, it’s a key pillar of the global financial system. And it’s starting to give way.

    Last summer, bond yields started skyrocketing. The yield on U.S. 10-year Treasurys is now twice as high as it was last July. But you have to realize something… Bond yields rise when bond prices fall.

    In January, Gross wrote that the bond bull market would end when the yield on the 10-year Treasury topped a key level, and stated “If 2.60% is broken on the upside—if yields move higher than 2.60%—a secular bear bond market has begun. Watch the 2.6% level. Much more important than Dow 20,000. Much more important than $60-a-barrel oil. Much more important than the Dollar/Euro parity at 1.00.” According to Gross, the bond bull market is now officially over. A “secular” bear market has begun. This means bond prices could fall for years, even decades.

    http://www.caseyresearch.com/articles/get-ready-for-a-credit-implosion

  • socalbeachdude

    The pressing problem now with the federal debt ceiling again activating is that in early November 2015 when the debt ceiling was reached and breached despite extraordinary measures (plundering around $400 billion from March 2015 into November 2015 from the US postal workers pension funds) is that Congress only approved the suspension of the federal debt ceiling up to March 15, 2017.

    Now, that day has come and gone and the US Treasury is nearly out of money to operate despite record tax revenues and needs to issue more than $1 trillion in net new US Treasuries in addition to the $6 trillion a year in new US Treasuries it always issues these days to pay off the Treasuries that mature to their holders – but the US Treasury NOW CAN’T ISSUE ANY MORE US TREASURIES because of the federal debt ceiling limit once gain become applicable.

    The easiest way to avoid any problems now is to play the KICK THE CAN DOWN THE ROAD GAME just like Congress has done for the past 36 years since the federal government debt reached $1 trillion. Congress can accomplish this by simply voting 1) to suspend the federal debt ceiling once again for anywhere between 1 year and perpetuity, or 2) increase the federal debt ceiling to some amount between $24 trillion and $100 trillion which should suffice to delay dealing with the issue for at least a few years, or 3) start seriously cutting the absurdly excessive federal government spending (I would suggest rolling it back across the board to 2007 levels of $2.7 trillion versus today’s $4 trillion).

    Any one of those three approaches will work to take the issue of the federal government not being able to issue further US Treasuries off the table for a while. I strongly prefer option door number 3.

    • GSOB

      Option 1, 2 includes increasing the money supply and debt.
      Option 3 is not realistic.
      You are out of options.

      • socalbeachdude

        Sorry to break the news to you, but those are the ONLY OPTIONS AVAILABLE. Period.

        • GSOB

          Those options dampen growth. Short term at best. No long tern solution,…… impossible.

          • socalbeachdude

            Nearly all of the “growth” since the 1980s has been TOTALLY BOGUS and has all been based on MASSIVE GROWTH OF DEBT which now exceeds $67 trillion at all levels in the US and that MUST SHRINK SUBSTANTIALLY and will shrink going forward as there is no other choice.

  • socalbeachdude

    HISTORY OF THE FEDERAL DEBT LIMIT (CEILING)

    The United States debt ceiling or debt limit is a legislative limit on the amount of national debt that can be issued by the US Treasury, thus limiting how much money the federal government may borrow. The debt ceiling is an aggregate figure which applies to the gross debt, which includes debt in the hands of the public and in intra-government accounts.

    Under Article I Section 8 of the United States Constitution, only Congress can authorize the borrowing of money on the credit of the United States. From the founding of the United States until 1917, Congress directly authorized each individual debt issued. To provide more flexibility to finance the United States’ involvement in World War I, Congress modified the method by which it authorized debt in the Second Liberty Bond Act of 1917. Under this Act, Congress established an aggregate limit, or “ceiling,” on the total amount of new bonds that could be issued.

    The present debt ceiling is an aggregate limit applied to nearly all federal debt, which was substantially established by the Public Debt Acts of 1939 and 1941 which have subsequently been amended to change the ceiling amount.

    http://en.wikipedia.org/wiki/United_States_debt_ceiling

  • socalbeachdude

    In Georgia, a Democrat’s ‘Make Trump Furious’ campaign rattles Republicans

    After the crushing electoral losses that swept Donald Trump into the White House and sealed Republican control of the U.S. Congress, the Democrats’ road to recovery winds through the leafy, well-heeled suburbs of north Atlanta.

    Here, Democrats are threatening a stunning special election upset that could signal how well the party can turn Trump’s low approval ratings into political gains. And they appear to have an ally in the April 18 vote: Trump himself.

    In the first congressional election of the Trump era, a wave of grassroots anti-Trump fervor has positioned Democrat Jon Ossoff, a 30-year-old political newcomer, to possibly capture a House of Representatives seat held by Republicans for decades, one of 24 seats Democrats need nationwide to reclaim the House.

    “The grassroots intensity here is electric, and it’s because folks are concerned that what is happening in Washington doesn’t represent our values,” Ossoff said in an interview. “This is a chance for this community to stand up and make a statement about what we believe.”

    https://ca.news.yahoo.com/georgia-democrats-trump-furious-campaign-rattles-republicans-111235842.html

    • awb22

      Atlanta, really? There’s a demographic model for the future, NOT! It’s a model for failure the same as all cities and regions that have replaced their productive class with millionaires and government dependents.

      • socalbeachdude

        Atlanta is the largest and most important city in the South and is quite prosperous these days.

        • Spatial Memory

          Jacksonville FL is the largest

          • socalbeachdude

            Florida never was part of “the South.”

          • Spatial Memory

            Your homeschool curriculum obviously did not include geography. Rotflmao

          • socalbeachdude

            Obviously, you are not an American Southerner. What part of China do you live in again? Beijing versus Guangzhou?

          • Spatial Memory

            Very close….
            Miami
            ROFL

            U ever figure out where this place is stop by I’ll get you an egg roll and few spare ribs. Rotflmao

          • socalbeachdude

            You obvious have zero comprehension of what constituted the American South.

          • awb22

            Oh, what is your bollywood version? Do you mean the SE? The South is Texas et al. Idiot, D Patel. Another geo lesson is in order, I see. slapitty slap slap slap.

          • socalbeachdude

            Texas is not part of the South and never been part of the American South. Your ignorance of American history is extreme but since you are from the UK not that unusual at all.

          • awb22

            You’re an idiot. Go look at a map.

          • socalbeachdude

            I am fully aware of geography, but you are astoundingly ignorant of American history!

          • awb22

            It appears rather you are. Fast forward to the present, we’re not in the 19th century anymore where everything west of the missisippi river was far west.

            There, I fixed it for you.

          • socalbeachdude

            You obviously never lived in the deep South!

          • LIZ THE SHIZ

            do you mean southern NYC and it’s suburbs ?

    • awb22

      Too bad your delusion was shattered in KS with the election of a Republican to congress in the super election.

      The tea party rolls on. Remind your elected reps mid-term elections are right around the corner, and they will be held responsible for standing in the way of reform.

      • socalbeachdude

        Huh? There never was a “tea party” which is just a tiny subset of the Republican Party and the Republican party is now in grave danger of losing a whole lot of midterm elections in 2018.

        • awb22

          Wrong. The tea party is a grass roots movement, not unlike the occupy movement, if you were paying attention, you’d know that.

          • awb22

            Yes, the Repubs are in danger of losing seats, but not to Dems.

          • socalbeachdude

            Laughably false.

          • awb22

            You’re in denial of the facts.

          • socalbeachdude

            Nope, but YOU sure are in total denial.

          • awb22

            Like I said, don’t let it get in your way.

          • socalbeachdude

            The so-called “tea party” is a tiny little fringe of the Republican Party and that is all it has ever been and practically nobody even refers to it anymore.

          • awb22

            Right, that’s how they won the White House. Your absurdity is truly astonishing.

  • socalbeachdude

    Across the board tax cuts to 2007 levels would be most desirable, but if I were targeting specific areas of spending, I would cut:

    1) military spending by 50% including closing and selling most all of the 2300 US military bases around the world.

    2) eliminate many federal agencies including the departments of education, energy, EPA, transportation, and the rest of them not officially specified as part of the cabinet

    3) wages and pensions of federal employees by 50%, and would fire about 50% of all federal employees

    4) Medicare reimbursements by at least 50% and typically around 80% as hospitals are vastly overcharging and should have the rate reimbursement scheduled adjusted back to rates that are reasonable and within the rate of inflation over the past 30 years. Medicaid scales would also be cut accordingly.

    5) SNAP (food stamps) entirely along with all other such federal social welfare programs

    6) DHS would be disbanded and turned back into a few much smaller agencies such as the FBI and CIA as was the case prior to 2002.

    7) complete elimination of the student loan program and any and all subsidy programs for housing including Section 8 and mortgage programs.

    Those cuts would more than eliminate the current federal deficit and then I’d start looking for a lot more cuts to start actually repaying the current $16.2 trillion in national debt.

    • awb22

      The debt is $20T and it should be repudiated, at least the part generated out of thin air.

      • socalbeachdude

        The $20 trillion of US government debt is OWNED AND HELD AS ASSETS BY THE PEOPLE AND ENTITIES WHO BOUGHT AND OWN IT including pension funds, hedge funds, money market funds, insurance companies, individuals, companies, foreign governments and a vast array of other entities who expect to be PAID IN FULL AT MATURITY as has always been the case with US Treasuries. The US government has NEVER DEFAULTED ON ANY OF ITS FEDERAL DEBT which is backed by the full faith and credit of the US government which is why it is considered the most RISK FREE INVESTMENT IN THE WORLD.

        • Spatial Memory

          Again your LUDICROUS HOMESPUN misconceptions of debt vs liabilities provides excellent comedy.

          • socalbeachdude

            What on earth does your nonsensical comment have to do with the facts that I very clearly and correctly stated above?

          • awb22

            the only nonsense is your repeated lies, D Patel.

          • socalbeachdude

            Everything that I have stated is 100% true, accurate, and fully correct.

          • awb22

            You’re confusing truth and facts, they’re not the same thing, you smug ignoramus.

          • socalbeachdude

            No, I am not “confusing” anything at all, but you most certainly are big time. Please start dealing with the actual facts.

          • awb22

            OK, “The $20 trillion of US government debt is OWNED AND HELD AS ASSETS BY THE PEOPLE AND ENTITIES WHO BOUGHT AND OWN IT”

            Prove it, audit the Fed. Unless and until that happens, the interest on the debt should be held in escrow.

          • socalbeachdude

            Each and every year, as has been the case for 100+ years, the Federal Reserve issues FULLY INDEPENDENTLY AUDITED Annual Financial Statements which are extremely detailed and run around 500 pages each year. They are fully publicly available for you and anyone else who is interested in them to fully read and review at:

            http://www.federalreserve.gov/publications/annual-report/

            What more do you want to know?

            The Federal Reserve does not cost the US government and taxpayers a single penny and is the LARGEST SINGLE PAYER OF REVENUES TO THE US GOVERNMENT each year and those rebates now amount to around $100 billion a year.

            The page that covers who, when, and how the Federal Reserve is audited is at:

            https://www.federalreserve.gov/faqs/about_12784.htm

          • awb22

            Why, then, is there a call in Congress to audit the Fed? What are they hiding?

          • socalbeachdude

            There isn’t any such call at all. One little committee in the House passed a bill related to that and it will never reach the floor of the House. Again, go read the fully independently audited financial statements of the Federal Reserve at:

            http://disq.us/url?url=http%3A%2F%2Fwww.federalreserve.gov%2Fpublications%2Fannual-report%2F%3AmrKfWvIKry-UNjtWmaWTW19uK9w&cuid=1973462

          • awb22

            Yes, there is. Once again, you’re being disingenuous.

    • awb22

      Who asked?

  • socalbeachdude

    1% Wall Street sales tax solution to stabilize US federal budget

    In the midst of the current haggling over the US federal budget, the main fact is being ignored: the fiscal shortfall of the US government over decades is largely due to Wall Street’s rigging of the tax code so that the main money center banks pay little or nothing in the way of taxes.

    In short, the greatest single flow of untaxed money is the stocks, bonds, and derivatives which cross the exchanges in New York and Chicago, as well as the over-the-counter derivatives which are contracted behind the scenes. If sacrifices are required, this is obviously the place to start. The obvious way to stabilize the US federal budget is to levy a sales tax on these financial market transactions. A sales tax will be paid immediately on every trade, without regard for the yearly profits and losses reported by smart accountants, making it much harder to cheat.

    http://www.presstv.ir/detail/2012/12/04/276170/wall-street-tax-solution-to-us-budget/

    Let’s call it the Financial Industry Sales Tax (FIST) and give Wall Street the FIST.

    • awb22

      Less taxes, not more are the answer. And eliminating all deductions.

      • socalbeachdude

        Lower taxes at the federal level would only VASTLY WORSEN THE FEDERAL DEBT ISSUE which is precisely what occurred during the Reagan years when the federal debt increased from “only” $1 trillion to more than $2.8 trillion which nearly TRIPLED THE FEDERAL DEBT.

        If you want lower taxes then FEDERAL SPENDING MUST BE CUT VERY DRAMATICALLY.

        • awb22

          which doesn’t negate the point, does it?

          • socalbeachdude

            What point? How on earth are you going to have lower taxes when federal government spending is $1.4 trillion a year more than the federal government is taking in via revenues? Please do tell! The entire point of this article is that the federal government has MAXED OUT ITS CREDIT CARD AND CANNOT ISSUE ANY FURTHER US TREASURES (GOVERNMENT DEBT) UNTIL AND UNLESS CONGRESS APPROVED THAT.

          • awb22

            Simple, cut spending, then cut taxes. Problem solved. Sorry it wasn’t obvious to you, Patel.

          • socalbeachdude

            And just what federal government spending do you propose cutting and by how much in each category?

            Only 20% of the US government annual spending is for total military spending with 16% for actual military spending and 4% for Veterans Benefits.

            The biggest part of the spending is SOCIAL PROGRAMS including the Social Security and Medicare insurance programs which are NOT ACTUARILY SOUND and which are paying out vastly more than they have taken in with payroll taxes.

            A summary of the fiscal 2015 US federal government expenditures totaling nearly $4 trillion is as follows:

            WELFARE & MEDICAL (63%)
            33% Social Security, Unemployment, Labor
            27% Medicare & Health
            ..3% Housing & Community

            MILITARY (20%)
            16% Military
            ..4% Veterans Benefits

            INTEREST ON DEBT (6%)
            ..6% Interest on Debt

            FOOD & TRANSPORTATION (6%)
            ..3% Food & Agriculture
            ..3% Transportation

            EDUCATION & SCIENCE (3%)
            ..2% Education
            ..1% Science

            ENERGY, ENVIRONMENT, & INTERNATIONAL (2%)
            ..1% International Affair
            ..1% Energy & Environment

            OTHER EXPENSES (1%)
            ..1% Government Expenses (general)

            The complete breakdown of Fiscal 2015 expenditures is extensively detailed including actual numbers as well as pie-charts with various percentage breakdowns as to discretionary and non-discretionary expenditures at:

            https://www.nationalpriorities.org/budget-basics/federal-budget-101/spending/

            Unless you cut at least $1 trillion of that federal government spending, the US government will continue running up deficits and not have balanced budget and even if it does cut $1 trillion of spending there would be no room at all to lower federal taxes.

  • socalbeachdude

    Isn’t it really very easy to cut federal spending by $1 trillion a year?

    1) Cut Social Security payments by 20% ($266 billion saved)

    2) Cut allowable Medicare charges by 50% ($425 billion saved)

    3) Eliminate food stamps entirely ($80 billion saved)

    4) Cut military expenditures by 30% ($240 billion saved)

    5) Increase Congressional salaries by 100% for mission accomplished!!!

    WASN’T THAT REALLY SIMPLE AND EASY TO CUT $1 TRILLION A YEAR?

    • awb22

      You really hate the poor, don’t you? How’s the homelessness problem in your neighborhood, Patel?

      • socalbeachdude

        We, of course, have no issue whatsoever with “homelessness” in Beverly Hills, California.

        WANT TO INSTANTLY BECOME A TOP 20%er?

        The Average US Welfare Payment Puts You In The Top 20% Of All Income Earners

        http://www.forbes.com/sites/timworstall/2015/05/04/the-average-us-welfare-payment-puts-you-in-the-top-20-of-all-income-earners/

        • Spatial Memory

          WANT TO INSTANTLY BECOME A BOTTOM 1%er?

          Try speculating on some of the ludicrous collapse predictions foisted by guess whom…

          ROFL

          • socalbeachdude

            You already are at the bottom 1%. Sad!

      • Spatial Memory

        Obviously didn’t care for education either as absolute ignorance of the “FISCAL MULTIPLIER EFFECT” is obvious throughout his mypoic homespun misconceptions.

        • socalbeachdude

          The so-called “fiscal multiplier effect” has nothing to do with anything. The current major pressing issue with the US federal government is NO MONEY. NO CHECKIE. and you are apparently failing to grasp that rather simple and straightforward concept.

          • GSOB

            Usually, those dependent on government for a handout are similar to those who want to increase government revenue, except you.
            Why would you want to increase government revenue?

          • socalbeachdude

            Huh? How is the federal government going to deal with its huge bills resulting in spending $1+ trillion more per year than they are taking in via revenues other than to 1) increase tax revenues, and/or 2) dramatically cut federal spending? Please do elaborate on that!

          • GSOB

            You mean, ask you questions?

          • awb22

            beach bum isn’t here right now, if you’d like to leave a message, wait for the beep.

    • GSOB

      Very naïve.

      • socalbeachdude

        Nope, just very sound and very straightforward proposals which should be fully considered.

        • GSOB

          proposal….?
          Jeremiah 12:17

          • socalbeachdude

            Huh?

  • socalbeachdude

    Lowering taxes would hurt government revenues, and if anything I would suggest increasing taxes to get a RAPID AND LARGE SURPLUS generated after implementing those cost savings. The best way to increase taxes would be:

    1) Increase capital gains taxes to 90% on short term gains with short term being defined as assets held less than 1 month

    2) Implement a new Financial Instruments Sales Tax (FIST) of 1% on all financial assets transactions payable by the buyer of those assets like a sales tax.

    • GSOB

      You are walking on thin ice and about to get wet.

      • socalbeachdude

        Apparently you already fell into the freezing water!

        • GSOB

          Frozen in the fatal climb
          and the wheels of time
          just pass you by

          • socalbeachdude

            Huh? Those assertions obviously have nothing to do with me.

  • socalbeachdude

    Prior to 1913 when the federal income tax was first instituted in the USA, nearly all of the federal government REVENUE CAME FROM TARIFFS on foreign goods. Wouldn’t one of the best ways now to get increased government revenue be to RAISE TARIFFS TO 100% OF THE PRICE OF ALL FOREIGN GOODS coming into the USA?

    • awb22

      Yes, and repeal the Federal Reserve Act, repudiating the national debt in the process.

      • socalbeachdude

        The US government debt has nothing whatsoever to do with the Federal Reserve Act and the Federal Reserve did not run up a single penny of the US government debt which has all been authorized and run up exclusively by Congress and signed into law by Presidents.

        • GSOB

          A distinction made but the point is moot.

          • socalbeachdude

            Where d o you come up with that assertion>? The distinction is absolutely CRITICAL to understanding the problem.

          • awb22

            critical according to whom, you? I’m started to think you’re a bot, stupid, but completely made up.

          • socalbeachdude

            Critical according to any reasonable person who comprehends the situation. Obviously. Are you really that clueless?

          • awb22

            No, according to you, asswipe. Are you really that stupid?

          • socalbeachdude

            Thank you for describing YOURSELF rather perfectly, albeit very crassly.

          • awb22

            Huh?

  • socalbeachdude

    SHOULDN’T THE US GOVERNMENT SELL ITS 8250 TONNES OF GOLD?

    The best way for the US government to RAISE SOME FAST CASH would be to sell off it entire 8250 metric tonnes in gold. It is currently valued at $42.22 per ounce for a total value of $11 billion which would keep the government running for a few days, but if they sell it off now at the market price of a little over $1250 per ounce they could raise about $340 billion which would keep the government running for about 3 FULL MONTHS. But they better not wait to sell it off or they’ll get a lot closer to their book value for it than today’s lofty market value.

    http://www.fms.treas.gov/gold/current.html

    • awb22

      Check the spot markets again, there, Patel. You’re only off by about $1200 per ounce.

      • socalbeachdude

        The US government values its 8,200 or so metric tonnes of gold at the office US government price of $42.22 per ounce and has never changed that valuation at all and that is the figure it uses to prepare its monthly US Treasury gold valuation statements which puts the value of the total US government gold right around $11 billion as you can see from the current US Treasury report.

        http://www.fiscal.treasury.gov/fsreports/rpt/goldRpt/current_report.htm

        Even at the current market price of $1,250 per ounce for gold the total value of the entire 8,200 metric tonnes of gold owned by the US Treasury would be less than $350 billion which is equivalent to about 25% of the Fiscal 2016 federal government deficit of $1.4 trillion and equal to about 1.8% of the current outstanding federal debt of more than $19.9 trillion.

        • awb22

          Your comment still makes absolutely no sense whatsoever.

          • socalbeachdude

            It may make “make absolutely no sense” to you as you apparently have comprehension problems but accurately and correctly describes the actual facts as to the amount by which the US Treasury values the US government gold and its present market value which is miniscule in the big picture.

          • awb22

            No, it doesn’t, asshole. What good would selling the gold reserves accomplish?

            Why not keep the gold and repudiate the debt, which is, btw, the only way forward for the US, is to kick the banksters to the curb.

          • socalbeachdude

            What selling the US government gold would accomplish – assuming that it could be sold anywhere near the spot market price of gold – would be to raise about $350 billion which would cover about 3 or 4 months of the current federal deficit.

            As to the US government debt of around $20 trillion, are you somehow not aware that the US government is the largest holder (owner) of that debt itself primarily through the ownership of various federal agencies including the Social Security and Medicare Trust funds which have invested nearly all of their assets in US Treasuries? Repudiating that federal debt would render Social Security and Medicare TOTALLY INSOLVENT without nay funds at all to pay beneficiaries.

            Not to mention that repudiating federal government debt (US Treasuries) would render the US UNABLE TO BORROW ANY FURTHER FUNDS AT ALL and would wipe out $20 trillion in ASSETS held (owned) by its current holders including banks, insurance companies, foreign governments, pension funds, hedge funds, money market funds, individuals, companies, and an array of other entities, including Social Security and Medicare.

          • awb22

            You’re just making stuff up now, aren’t you. The US should run a balanced budget, period. $20T in liabilities is nothing compared to $200T in unfunded liabilities. That’s the tough part, after we audit the fed, and repudiate the monetized portion of assets. How much was given to the banks to shore up the financial system after 2008, around $8T, including foreign banks?

            Why is the US taxpayer left holding the bag? The AG settlement was a farce, the MBS scam caused far more damage than the banks were required to pay in settlement.

            Will you at least admit the Fed should be forensically audited?

          • socalbeachdude

            Everything I stated above is 100% true, accurate, and fully correct. So-called “unfunded liabilities” are NOT DEBT at all and they do not become debt until and unless actual money is borrowed to pay for them, and they are offset by future revenues. Moreover, they exist only out over a future time frame so there is no way to put a fixed dollar amount on them without specifying them within a time frame.

            The Federal Reserve has not run up a single penny of the federal government debt and does not owe a single penny of government debt and its only involvement at at with US government debt is that it owns about $2.5 trillion of US Treasuries (federal debt) on which the INTEREST IS ESSENTIALLY FREE as the Federal Reserve rebates 94% of its profits annual to the US Treasury which now amounts to nearly $100 billion a year making the Federal Reserve the largest single entity source for US government revenues.

            Not a single penny was ever “given” to any bank or banks by the Federal Reserve. All that was done were very short term loans under the Federal Discount Rate WHICH WERE TYPICALLY OVERNIGHT AND ALL OF WHICH WERE FULLY REPAID with interest to the Federal Reserve. Not a single penny was ever loaned to “foreign banks” at all but only to MEMBER BANKS OF THE FEDERAL RESERVE OPERATING IN THE USA.

            Obviously, the US taxpayers is ON THE HOOK FOR US GOVERNMENT DEBTS which were incurred by the Congress representing the people of the USA and that amount is now just under the $20 trillion debt ceiling and is increasing by an amount of around $1 trillion a year.

            The Federal Reserve in the USA is INDEPENDENTLY AUDITED ANNUALLY BY ONE OF THE TOP 4 ACCOUNTING FIRMS IN THE USA just like all major corporations are in the USA.

            Each and every year, as has been the case for 100+ years, the Federal Reserve issues FULLY INDEPENDENTLY AUDITED Annual Financial Statements which are extremely detailed and run around 500 pages each year. They are fully publicly available for you and anyone else who is interested in them to fully read and review at:

            http://www.federalreserve.gov/publications/annual-report/

            What more do you want to know?

            The Federal Reserve does not cost the US government and taxpayers a single penny and is the LARGEST SINGLE PAYER OF REVENUES TO THE US GOVERNMENT each year and those rebates now amount to around $100 billion a year.

            The page that covers who, when, and how the Federal Reserve is audited is at:

            https://www.federalreserve.gov/faqs/about_12784.htm

  • socalbeachdude

    The reason for the current problem with US government finances is that it is SPENDING ABOUT $1 TRILLION MORE A YEAR THAN IT TAKES IN VIA TAX REVENUES AND OTHER INCOME.

    And the ways to fix that are:

    1) Raise Federal Taxes equal to government spending

    2) Cut federal spending equal to g0overnment revenues

    3) Use some combination of 1 and 2

    The problem preventing a solution, of course, is that the majority of the American people want endless and increasing government benefits and services without paying for them with adequate taxes and want the government to borrow the difference.

    • awb22

      1) not possible
      2) not possible without addressing $200T of unfunded federal obligations
      3) see 1 and 2

      As a nation, we have a choice between a future of individual freedom or a totalitarian police state. Each person has to make up their own mind which they choose, and live with their choice.

      • socalbeachdude

        Choice #1 is very possible.
        Choice #2 is extremely easy to do and very possible and has nothing to do with so called “unfunded federal obligations”
        Choice #3 is what actually must practically occur.

    • FirstGarden

      Oh it’s all coming. Eventually, the ax will drop on whoever is the least expedient, or most expendable, politically. And once the pubs have worn out their welcome, the dems will come back, and it will be taxes, taxes, taxes, and a re-shift in cuts. But cuts will remain in place simply because they will be forced to retain them.

      Before very long, the pendulum will swing back to entitlement-mania as future leaders capitulate, once again, to the cries of media-mesmerized mob rule.

      And the Trumpites — who shared a dream of individualized self-moral-government, will be shouted down by the Statists, and finally wisp away into insignificance.

      I hope I am wrong.
      Would someone please tell me I’m wrong?

      • awb22

        because that which is unsustainable cannot continue indefinitely.

        Beginning with Reagan, the debt began climbing exponentially to where we’re on the leading vertical edge of deficit spending.

        Repudiation of the debt and repeal of the Federal Reserve Act is the only way forward.

        • socalbeachdude

          There obviously will not be and cannot be any “repudiation” of the federal debt of the United States of America which is backed by the full faith and credit of the US government. As to the Federal Reserve it did not run up a single penny of the US government debt and has nothing at all to do with that debt other than it owns about $2.5 trillion of the total outstanding $20 trillion debt.

          • awb22

            So, you admit fiat money is debt. Congress abdicated their congressional role of coinage.

            There can be a repudiation. It was discussed during the 2008 crisis, trillion dollar coin was term used.

            Congress can do ANYTHING IT WANTS to, and if the SCOTUS backs them up, THERE’S NOTHING YOU CAN DO ABOUT IT.

            D Patel

          • socalbeachdude

            Currency is not “debt” at all. As to “coinage” that is a very anachronistic and totally obsolete concept and coins today are primarily minted in the US for very small change from US dollars and for collectible purposes.

            Congress most certainly CANNOT “do anything it wants” to do at all if that is in violation of existing laws and the US Constitution or what it does will be rapidly overturned by the third branch of the US government known as the JUDICIARY.

          • awb22

            You simply restated my position, idiot. I said, if SCOTUS backs them up.

            A measure of last resort will be a constitutional convention to require a balanced budget. That will put enormous pressure on Congress to repeal the Federal Reserve Act of 1913, et al, and send the bankers packing, which is, at the end of the day, the only way forward.

          • socalbeachdude

            There will be no “Constitutional Convention” at all and practically NOBODY is interested in a balanced budget when the only way to achieve that is by 1) hugely increasing federal taxes, and/or 2) hugely decreasing federal spending.

            The Federal Reserve is not in anyway even slight part of the problem and will be serving the USA as its central bank for the foreseeable future. It is now the largest single entity government revenue contributor and has always rebated 94%+ of its annual profits each year to the US Treasury. Are you somehow not aware of those facts?

  • socalbeachdude

    PREPARE FOR “REAL WAR”…

    Russia and Iran warn Trump they will retaliate militarily against the US if it crosses their ‘red line’ again with attacks on Assad in Syria

    Russian and Iranian forces last night warned Donald Trump they would retaliate with military action if he launched more airstrikes on Syria.

    In an ominous threat raising the prospect of war, they said the US President had crossed a ‘red line’ with his surprise missile bombardment on Bashar al-Assad’s forces. ‘From now on we will respond with force to any breach of red lines and America knows our ability to respond well,’ the military chiefs said in a joint statement with Hezbollah.

    The Russian Embassy in London last night suggested there could be ‘real war’ if Moscow is presented with an ultimatum over Syria. But Boris Johnson will today lead a push for Russia to face tough new sanctions unless it withdraws its support for Assad.

    It comes after President Trump ordered airstrikes on a Syrian airbase in the first direct attack by the US against Assad on Friday morning.

    http://www.dailymail.co.uk/news/article-4396068/Russia-ups-ante-Syria-with.html

    • awb22

      Ohh, now I’m scared. We can beat either China or Russia militarily, but not both. Xi and Trump appeared rather chummy this week, didn’t they?

      • socalbeachdude

        Trump totally failed (from what we know) to discuss any issues of any actual importance with President Xi or China during his visit at Trump’s Florida facility called Mar-a-Lago.

        • awb22

          I suppose it works in our favor that Bejing and Moscow hate one another.

          • socalbeachdude

            False. China and Russia have EXCELLENT RELATIONSHIPS with each other as countries and have for a very long time.

          • awb22

            I’m sure they do.

          • socalbeachdude

            Not about the vast trade imbalance, nor about the preposterously inflated value of the egregiously overprinted renminbi (RMB / yuan) or anything else that actually matters in the US relationship with China.

          • awb22

            I didn’t realize you had been elevated to the position of chief trade negotiator. It’s obvious you don’t have a clue about much of anything.

          • socalbeachdude

            That certainly does describe YOU.

          • awb22

            Other than you being clueless?

          • socalbeachdude

            I’m not. YOU are. Obviously! Sad.

          • awb22

            Obviously, you’re describing yourself, again. Sad.

          • socalbeachdude

            Nope. Obviously not.

          • awb22

            Obviously, it is.

          • awb22

            Obviously, you are.

          • Gay Veteran

            yeah, that’s why they’re cooperating so much

          • awb22

            Oh, really, how, so, sodomite joe?

          • Gay Veteran

            awwww, little snowflake obsessed the Teh Gay.

            Pepe Escobar

            “…Who Lost Eurasia?

            For Chinese leaders, the One Belt, One Road plan – an “economic
            partnership map with multiple rings interconnected with one another” –
            is seen as an escape route from the Washington Consensus and the
            dollar-centered global financial system that goes with it. And while
            “guns” are being drawn, the “battlefield” of the future, as the Chinese
            see it, is essentially a global economic one.

            On one side are the mega-economic pacts being touted by Washington –
            the Trans-Pacific Partnership and the Transatlantic Trade and Investment
            Partnership – that would split Eurasia in two. On the other, there is
            the urge for a new pan-Eurasian integration program that would be
            focused on China, and feature Russia, Kazakhstan, Iran, and India as
            major players. Last May, Russia and China closed a deal to coordinate
            the Russian-led Eurasian Economic Union (EEU) with new Silk Road
            projects. As part of their developing strategic partnership, Russia is
            already China’s number one oil supplier….”

          • awb22

            There’s a gaggle of besties, for ya.

            Kinda like you and me, eh soddy?

          • Gay Veteran

            yep, still obsessed with sodomy.

            what was your first experience? with daddy?

          • awb22

            You’re the one obsessed with it.

            When did you come out, after marriage and kids? That would be just about right for you degenerates.

          • Gay Veteran

            projecting again, eh

            when did you cheat on your wife with that hooker?

          • awb22

            Hmm, sodomy or fornication. That’s a tough choice. Which do you prefer?

          • Gay Veteran

            don’t you have a street corner to pray loudly at

          • awb22

            Why, what makes you think I’m a pharisee?

      • Gay Veteran

        so what? both China and Russia know the the U.S. seeks global hegemony

        • awb22

          And they’re well on their way. Too bad Trump is a spoiler for their plans. Called their bluff and forced their hand. He’s two steps ahead of the opposition and one step ahead of even his supporters. You can’t make this stuff up.

          I guess you voted for Hillary, eh, sodomite joe? Aren’t you a statist?

          • Gay Veteran

            “…I guess you voted for Hillary, eh, sodomite joe? Aren’t you a statist?”

            no, junior, I voted for Trump. see you’re still obsessed with sodomy

            “…Too bad Trump is a spoiler for their plans. Called their bluff and forced their hand….”

            he hasn’t forced jack sh it, this country is a declining empire and the decline is only accelerating

          • socalbeachdude

            That awb22 thang is about as clueless as they come and has quite a potty mouth.

          • awb22

            perhaps, what does that have to do with Trump’s play in Syria, or whether you’re a statist?

          • Gay Veteran

            statist?

            ROFLOL, but YOU are the one lusting for more war which increases the power of the state

          • awb22

            You’re projecting, statist.

          • Gay Veteran

            f-ing hypocrite, YOU are the one supporting the imperial war machine.

            war, which increases the power of the state

          • awb22

            I’m not being hypocritical at all, you’re the statist, sodomite joe.

          • Gay Veteran

            don’t you have a street corner to pray loudly at?

            and yes you are a hypocrite, war increases the power of the state, you statist

          • awb22

            Where have I stated I’m in favor of war, sodomite joe?

            I haven’t

            The only statement I’ve made is to point out that you’re a statist, which you are.

          • Gay Veteran

            warmonger awb22, did you forget what you wrote?

            “…what does that have to do with Trump’s play in Syria….”

            “…Too bad Trump is a spoiler for their plans. Called their bluff and
            forced their hand. He’s two steps ahead of the opposition and one step
            ahead of even his supporters. You can’t make this stuff up….”

            you seem very pleased with Trump’s act of war

            or did you condemn it and I missed it?

            eh, junior

          • awb22

            Trump didn’t get us into Syria, the neocons did. He called their bluff, any more discussion?

            I didn’t think so, soddy.

          • Gay Veteran

            statists like you don’t know how this will end

          • awb22

            Let’s hope not, regardless of ideology or beliefs.

          • awb22

            You’re the statist, not me.

          • Gay Veteran

            total lack of evidence

          • awb22

            Only between your ears. You support rights for sodomites as a protected class. Just who would afford you that protection if not the state? Your a f-ing statist whether or not you admit it, soddy.

          • Gay Veteran

            oh, so you think that race or religion should not be a protected class either?

            you cheered Trump’s act of war, which makes YOU the statist, hypocrite

          • awb22

            freedom of religion is constitutionally protected, the rest is statist.

            national defense is one of the constitutional roles of government, and Trump didn’t get us into Iran, your boy did. Trump forced their hand, end of discussion. He’s given notice he will do whatever is necessary to implement his policy agenda, both foreign and domestic. I don’t like the fact the US is fighting overseas any more than you do. Trump has personal interests. If you don’t like it, run for POTUS or STFU.

          • Gay Veteran

            “freedom of religion is constitutionally protected, the rest is statist….”

            hey moron, f-ing moron! who enforces freedom of religion? the state!

            “…national defense is one of the constitutional roles of government, and Trump didn’t get us into Iran, your boy did….”

            Obama is a war criminal, just like Trump.

            “…Trump has personal interests. If you don’t like it, run for POTUS or STFU.”

            STFU?
            F you with a rusty chainsaw

          • awb22

            You’re reflecting again. The constitution is a protection against government intrusion, moron. The problem with calling someone a war criminal is, who will prosecute except another war criminal, so your argument is baseless. So, yeah, STFU and take your own advice, soddy.

          • Gay Veteran

            awwww, I upset the little snowflake

          • awb22

            Nope, considering there’s all of eternity to consider.

  • socalbeachdude

    There’s a terrifying sense of deja vu as the Generals take over the White House and guide us towards another war (despite no-one knowing if it was Assad who used sarin on those civilians) says JOHN R BRADLEY

    For those of us who covered the build-up to the US-led invasion of Iraq in 2003, there is a terrifying sense of deja vu as another ‘Coalition of the Willing’ gears up.

    http://www.dailymail.co.uk/news/article-4396138/Generals-taking-White-House-says-JOHN-R-BRADLEY.html

    • awb22

      Why the fascination with the British tabloids, Patel? Fancy a crumpet?

      • socalbeachdude

        The Daily Mail is an excellent news source and is the largest circulation news source in the world and a major force in the news business in the US.

      • Spatial Memory

        Pay per click

        • socalbeachdude

          Huh?

          • awb22

            Duh?

          • socalbeachdude

            There is no “pay per click” involved with any comments here.

          • awb22

            Please tell me you’re not that stupid?

          • socalbeachdude

            Obviously, there is no “pay per click” in any way involved with any comments here.

          • awb22

            Obviously, you are, or obviously, you aren’t?

          • socalbeachdude

            Huh? All of my comments are pure pro bono to enlighten folks.

      • LIZ THE SHIZ

        wanker, tosser mate?

  • socalbeachdude

    DONALD TRUMP TOTALLY OUT OF TOUCH WITH REALITY…

    Trump plays ANOTHER round of golf as war looms: President enjoys his 16th game since inauguration – despite Iran and Russia threatening to retaliate over his airstrikes on Syria

    President Donald Trump on Sunday visited one of his own golf courses for the 16th time in his brief presidency – far outpacing his predecessor, who he repeatedly criticized for hitting the links.

    The 45th president was spotted at his Trump International Golf Course in West Palm Beach, Florida, for the second day in a row on Sunday after he ordered airstrikes on a Syrian air base on Thursday night during the Chinese President’s visit to Mar-a-Lago.

    Trump repeatedly criticized former President Barack Obama for golfing – but the 44th president didn’t play his first round until April 26, 2009 – nearly 100 days into his presidency.

    http://www.dailymail.co.uk/news/article-4396154/Trump-makes-16th-trip-golf-course-inauguration.html

    • awb22

      Jealous, much?

      • socalbeachdude

        Huh? I am merely stating the facts. Donald Trump is absolutely NOT paying attention at all to the most important issues facing the country.

        • Spatial Memory

          Your ludicrous misconceptions of what are “most important issues” have been CLEARLY REJECTED by capital markets and ABSOLUTELY DECIMATED any portfolio of any that followed your HORRENDOUS HOMESPUN GUESSWORK.

          • socalbeachdude

            The fact is that the US government CANNOT ISSUE MORE NET NEW US TREASURIES AT THIS STAGE and now Donald Trump has lost the support of many of the supporters who elected him – including myself – and Congress is totally failing to pay attention to this CRITICAL ISSUE of the federal debt ceiling limit now in effect as of 03/15/2017 and is about to run out of money.

          • awb22

            he hasn’t lost any support except amongst the snow flakes. melt away now.

          • socalbeachdude

            False. Donald Trump has lost tremendous amounts of support from the base that voted for him and many of us have totally lost confidence in him.

          • awb22

            You’re wrong. He’s kept most if not all of his promises, in spite of the deep state’s opposition. Congress needs to get their head in the game, or they’ll be voted out mid-terms.

            Beach bum, you’re an idiot.

          • socalbeachdude

            Absolutely false. Donald Trump has RENEGED ON VIRTUALLY ALL OF HIS CAMPAIGN PROMISES including in regards to China which was confirmed today. Your cluelessness is astounding.

          • awb22

            Hypocrite, it’s demonstrable that Reagan through BHO were liars. You weren’t complaining while you were on the gravy train, now were you?

          • socalbeachdude

            Huh? Donald Trump has proven to be just as much of a liar and hypocrite as any of those previous folks and that situation is getting worse everyday with NEOCON WARMONGERS apparently running the White House.

            Neocon Pence Thanks Netanyahu Backing Syria Strike

            http://www.breitbart.com/jerusalem/2017/04/10/pence-thanks-netanyahu-support-syria-strike/

          • awb22

            I disagree. You didn’t expect them or the deep state to quit and go home, did you?

          • socalbeachdude

            Yes, I expected those NEOCON JACKASSES to be summarily told:

            “YOU’RE FIRED”

          • awb22

            Then there’s the real world, outside of Hollywood.

          • awb22

            I’m sure you did.

  • BS1986

    SO let it shut down.

  • awb22

    I’m sure Members of Congress will get paid on 5/1/2017 and EBT cards will get recharged. Some spending still occurs regardless of funding.

    • socalbeachdude

      Only through the use of EXTRAORDINARY MEASURES by the US Treasurer which primary involves temporarily plundering federal pension funds which must be repaid after the federal debt ceiling is suspended or increases which then causes the federal government debt to suddenly lurch upwards by a large amount.

      • Spatial Memory

        Another ludicrous guess and once again demonstrating complete ignorance regarding debt vs liabilities. ROFL

        • socalbeachdude

          FLASHBACK TO NOVEMBER 2015…

          Debt Limit Coming a Month Earlier Than Expected – November 5, 2015

          “Based on this new information, we now estimate that Treasury is likely to exhaust its extraordinary measures on or about Thursday, November 5,” Lew wrote in a letter to Boehner. “At that point, we could be left to fund the government with only the cash we have on hand, which we currently forecast to be below $30 billion. This amount would be far short of net expenditures on certain days, which can be as high as $60 billion.”

          Lew said the date could still fluctuate somewhat from Nov. 5, but the letter makes clear that the situation is more urgent than anticipated by lawmakers and staffers who expected to be able to bundle a debt limit increase with an early-December spending package.

          “Without sufficient cash, it would be impossible for the United States of America to meet all of its obligations for the first time in our history,” Lew wrote.

          http://www3.blogs.rollcall.com/white-house/debt-limit-coming-sooner-thought-nov-5/

          Lew to Boehner: U.S. Runs Out of Cash November 3rd

          In a new letter to Speaker John A. Boehner, Treasury Secretary Jacob J. Lew has moved up slightly the timetable for action on raising the debt limit.

          “Based on our best and most recent information, we now estimate that extraordinary measures will be exhausted no later than Tuesday, November 3,” Lew wrote.

          http://www3.blogs.rollcall.com/218/lew-to-boehner-u-s-runs-out-of-cash-in-19-days/

    • XSANDIEGOCA

      Yes but what happens when the Levee does break as it surely will…

  • alan

    I bet by mid May no one will remember 29 April. A lot of hot air will have to be blown, fingers pointed and then more magic money will appear out of nowhere and everyone will be happy again until the next time. They do this every year and same thing happens every time.

    • socalbeachdude

      No “magic money” ever appears out of anywhere other than through the creation of more government debt through the selling of more net new US Treasuries but that amount has already nearly reached $20 trillion and selling more is what is prohibited as of now by the federal debt ceiling limit.

      • GSOB

        Now why do you need to complicate the convoluted complexity of it all?

        • socalbeachdude

          Huh, dude?

    • retired22

      Finally,…someone with an imagination who can understand the twists & turns involved when a bunch of thieves & BS artists get together in Congress!

  • rant1200 .

    Well maybe the nitwits who voted for this clown now can see him for what he is,a carpetbagger for the uber wealthy.He wants to start ANOTHER war on top of huge tax cuts for the billionaires.He couldn’t take health insurance away for the most needy in our country to free up money for his cronies so now to distract the public from his complicity with Russia,he starts a war.SOS.

    • socalbeachdude

      Donald Trump is not paying attention at all to any of the important issues facing the United States of America.

    • retired22

      I am already yearning for Hillary,…she would have given us a quick death rather then stringing it out,…Right?

    • Gay Veteran

      “…so now to distract the public from his complicity with Russia….”

      ROFLOL, another bu tt hurt hillary voter

  • socalbeachdude

    NEPOTISM TRUMPS INTELLIGENCE AT WHITE HOUSE…

    ‘Work this out’: Trump issues ultimatum to Bannon and tells his beleaguered chief strategist that ‘he will be forced out of the White House unless he adopts a more conciliatory approach’

    Donald Trump’s chief strategist Steve Bannon will reportedly be forced out of the White House unless he adopts a more conciliatory approach and plays nice with Jared Kushner.

    The ultimatum comes after a hellish week for the top aide who has become increasingly isolated in the White House following his rise to power as a key architect of Trump’s ‘America First’ policy, a senior official said. Bannon’s power bubble burst this week when Trump booted him from the National Security Council, his feuds with Kushner and wife Ivanka Trump were made public and it emerged he was against the Syrian airstrikes.

    http://www.dailymail.co.uk/news/article-4396542/Bannon-forced-doesn-t-team-player.html

    • retired22

      If you can believe what you hear.
      What is really happening is anyone’s guess!
      The old saying, …….”Believe 1/2 of what you see & nothing of what you hear”

      • socalbeachdude

        Huh? What that article stated are true facts.

        • awb22

          true facts? There is no such thing!

          • socalbeachdude

            There most certainly are REAL FACTS such as the color black being black and color white being white. What doe you think juries do every day but for determining the actual facts in cases and applying the law to those facts determined to be true?

          • awb22

            Saying so doesn’t make it so. Facts are facts, which change. The truth never changes, which is God’s word. Then we have natural law, made by God. Then there are theories, hypotheses, and facts, all of which may be more or less accurate.

            It’s called the scientific method, numb nuts.

          • socalbeachdude

            No, facts do not change at all. As to you religious beliefs THOSE ARE NOT FACTS at all nor are they any sort of “TRUTH” at all, but rather MERELY BELIEFS with no empirical basis of fact whatsoever.

          • awb22

            right, well, you don’t get to define words either. I choose to define words as they are used in the bible. So, you don’t get to define your own truth. You can, but it’s irrelevant, like most of your facts.

          • socalbeachdude

            The Bible was originally written in HEBREW and has been translated and redefined many times over the past 2,000 years. Are you somehow not aware of that? Are you not aware of what a FACT actually is? A fact to be a fact must be backed by EMPIRICAL EVIDENCE or it is simply not a fact at all.

          • awb22

            What about anecdotal evidence? Here’s a fact for you, you don’t get to make up the definition of words. I have my standard, what’s yours?

          • socalbeachdude

            Anecdotal evidence is not about facts.

          • awb22

            But nontheless relevant. What about circumstantial evidence?

            You also avoided the question of standards. Not surprising.

  • socalbeachdude

    Donald Trump as President has a really rough road ahead as he has just lost the support of many of us over the past 72 hours who previously worked very hard to elect and support him.

    • Spatial Memory

      If your notion of hard work is anything like the hard landings and collapses you’ve predicted throughout the absolute greatest and protracted economic expansion in history then both President Trump and the American people may be better off than 72 hours ago. Rotflmao

    • XSANDIEGOCA

      We are at War and Wars are not popular things in the long run. We are in a very deep pit and it is going to take time and some very unpopular measures to get out of it.

    • retired22

      What are you going to do,…cry!
      You want magic & he is only the President & not a magician!

      • socalbeachdude

        Huh? What I want is a President who ACTS ON TRUTH AND FACTS and with honor and is true to his spoken and written (tweeted) words.

    • GSOB

      Says who?

      • socalbeachdude

        Says me and many millions of Americans.

  • Spatial Memory

    Equity futures rolling over …. and no inverse “benefit” in bond futures. TMV, TZA, SPXS 🙂 🙂 🙂

    Deflation. Mark down of all asset classes.

  • Spatial Memory

    LIQUIDITY TRAP RISKS increasing exponentially. Jmho

  • Spatial Memory

    Proverbial can has run out of proverbial road to be kicked down. Markets at precipice of significant dislocation resolution.

  • Spatial Memory

    Hidden divergence abounds in derivative induced diamond top pattern

    • FirstGarden

      Exquisite extrapolation by precocious, sentient psyche on steroids. 🙂

      • Spatial Memory

        Hidden bullish divergence happens when price is making a higher low (HL), but the oscillator is showing a lower low (LL

        hidden bearish divergence. This occurs when price makes a lower high (LH), but the oscillator is making a higher high (HH

        • socalbeachdude

          In the immortal words of the legendary George W. Bush:

          “THIS SUCKER’S GOIN’ DOWN!”

  • A Dodgy Bloke

    This is much to do about nothing, the GOP and the Democrats will do one of two things. The House and Senate will pass another CR like they did during the eight years of BHO or the GOP will cave on everything. I’m betting the GOP caves in like an old coal mine.

    • GSOB

      CR

  • Cinderella Man

    Yah I was going to worry about the debt ceiling crisis world war 3 and the hundreds of other issues then I decided to go on living my life. Sorry don’t feel the need to buy dehydrated food or stockpile toilet paper.

    • XSANDIEGOCA

      I can’t argue with you but I would suggest being able to survive sans ATMs, Walmart and water for at least 90 days.

  • J.j. Cintia

    What part of unpayable debt don’t you understand? The Feds are already broke. When you have to borrow to make your budget, they call that BANKRUPT. Recovery? What recovery? 100 Million out of work. Retail going flatline. A Retail Apocalypse will happen THIS YEAR. You can try to blame Amazon, but Macy’s is going down too. No way women are not going to Macy’s to shop online. Women LOVE SHOPPING. They love the experience of being waited on and trying stuff on. Can you do that on a computer? NO.
    Let me tell you something they’re all not talking about and trying to hide. The Deficit is approaching a Trillion Dollars. Their Debts are also about a Trillion Dollars. These idiots NEVER PAY A CENT THEY BORROW BACK. They just pay the INTEREST. When the Interest matches the borrowing, then all they borrow goes to finance the debt. This is the critical point. Why? Because I doubt seriously these idiots aren’t borrowing all they can. So when the finance charges EXCEED the money borrowed, all the Checks will BOUNCE LIKE SUPER BALLS. After that Stock Market Collapse, Hyperinflation, Food Riots, Empty Stores, National Guard and ZOMBIE APOCALYPSE.
    Congress cannot stop it, cause they caused it. Trump would have to create MILLIONS of high paying jobs every month just to keep financing the Unpayable Debt.

    • XSANDIEGOCA

      You are completely correct so what should we do?

      • J.j. Cintia

        Your focus should be on SURVIVAL. You can’t save everyone. Don’t be a martyr and try to save the World man. Get your family and plan. Have a bugout plan. If its bad, you need to fly out of here. Its no shame to take your family to safety. There’s no way to solve this now. It went too far down the road. Get together with your closest friends. Have some guns and ammo to defend against looters. Stock up on dried foods that don’t need to be cooked. Canned foods are iffy. Especially the cheap stuff. You might have to cook those.

        • GSOB

          And pray to the Lord Jesus Christ for salvation.

    • socalbeachdude

      Yep!

  • XSANDIEGOCA

    First things first. Get a CR. Then Trump should ask his supporters for contributions to start the Wall. He will throw in a 100MM from his own funds. I think it would surprise everyone what the response would be. We don’t have to fund it ALL in one go. We can do stages. As for PP, he should explore what he can do in the EO area. Again, stripping it out in one pass may not be possible but we can start the process. It has taken us over 50 years to dig this hole. Getting out will take time.

    • GSOB

      I would be very surprised if the ‘wall’ ever gets the backing it needs. I seriously doubt it will get built to completion.

      Too much, too little, too late

  • David

    The fact that Members of Congress still get paid during a shutdown doesn’t exactly give them a sense of urgency to raise the debt ceiling now does it?
    These people are supposed to be civil servants but act like royalty instead because the people allow them to.

    • socalbeachdude

      It is of little to no consequence to the Congress folks whether they get paid or not, but, by the way, their salaries go on regardless as to a “government shut down.”

  • greanfinisher

    It sounds to me that a government shutdown would be just what the doctored ordered as the runaway spending is just plain ridiculous.

  • littlebit43

    Let me see if I have this right. We have no budget. There is a real possibility of the govt. being shut down. VACATION TIME! What in Gods name are we sending to Washington to represent us? I would think with the money and freebies, not to mention the best retirement and Ins. plan in the world that work would come first.

    • retired22

      What is needed to cover public expectations is magic & we have no magicians,…only politicians!

      • socalbeachdude

        So-called “public expectations” need to get blown to shreds without further delay.

        • retired22

          How many dead bodies & burnt out towns will it take to reach your goal?

          • socalbeachdude

            Huh? There are laws against that sort of bad behavior and they will be enforced stringently. You simply don’t seem to be able to comprehend that due to decades of grossly irresponsible reckless federal spending it is “NO MONEY. NO CHECKIE” time now in America and that around $1 trillion needs to be cut in federal spending and/or around $1 trillion needs to be raised in additional federal tax revenues. Until and unless the federal debt ceiling is either suspended or dramatically increased by Congress the US Treasury cannot issue and further new US Treasuries to raise money via debt markets.

          • retired22

            I comprehend perfectly,you have a one track mind with tunnel vision who see’s the obvious,but nothing deeper.
            There are games going on in Washington & the political moves are beyond me,…and way beyond you as well.
            It may be that one or both parties wants to generate a crisis for political reasons!
            Maybe they will extend the debt limit at the very last moment,.There is a non violent war going on under the surface in Washington between the Republicans & The Democrats.This budget struggle at the end of the month will probably be an extension,but no outsider can know for sure.
            stop running around like a maniac & you will know at the end of the month.

          • socalbeachdude

            In case you haven’t noticed over the past 40 years we have a ONE PARTY SYSTEM IN THE USA with two slightly different flavors and both of those flavors have always voted for VASTLY INCREASED FEDERAL SPENDING and lied and pandered to voters to get votes and to stay in office and that is precisely what got the USA into the DIRE FINANCIAL DISASTER that it presently is in.

  • Zlatko Milanovic

    “It is a game of chicken between Trump and the Democrats…” Lies, propaganda. The Dems are the minority party, they can be out-voted any time. This train wreck belongs squarely to the Republicans. How about Congress just starts paying down the debt with tax money? It’s not going away.

    • retired22

      And who will be the one to tell the public that the money allocated for toys & candy will be used to pay debt instead?

      • socalbeachdude

        More than 63% of the federal budget is allocated for SOCIAL SERVICES and the government spending is around $1 trillion more than the federal government is taking in via revenues and now the US government cannot issue more net new US Treasuries (government debt) to cover that shortfall until and unless the federal debt ceiling is suspended or increased substantially.

    • socalbeachdude

      The US government is spending about $4 trillion a year and taking in only about $3 trillion in revenues leaving more than a $1 trillion a year deficit which they fill by borrowing through the issuance of US Treasuries (federal government debt). Is there something about that fact that you do not comprehend?

  • Richard O. Mann

    It seems that we are about to arrive at a point in time and space, where all hell will break loose. I could be wrong. Hopefully I am.

    • GSOB

      Jesus Christ will come back one day.

      • socalbeachdude

        And just how will that help with the out of control federal government spending?

  • Spatial Memory

    Implied Volatility. VIX screaming something. Jmho.

  • Seen2013

    The catalysts for open borders are conquest via expansionism as sole superpower status translates to sole power status and guilty until proven innocent that reduces due process to enable suspicion by statistic and/or association to conduct criminal-terrorism prevention.

    They’ll conduct a governmental shutdown pretending that it was unavoidable even though Progressive Democrats and Republicans have all the leverage they need through violating Responsibility to Protect that makes it a war crime to act against the ‘Established Government’ without first acquiring a UN Resolution requiring either Hawkish or Dovish justification to bypass Responsibility to Protect.
    To attack an ‘Established Government’ under false pretenses is an act of premeditated war-crimes, this means Trump’s surgical strike without investigation or UN Resolution trumps Trump-Russia collusion accusation.

    Why does the political class desire war? They must not fail or lose the world’s reserve currency status and face war-crime prosecution.

  • socalbeachdude

    TAX REFORM PLAN DONALD CAMPAIGNED ON NOW DOA

    Trump ditches tax reform plan he campaigned on and considers series of new options – including payroll tax cut in bid to woo Democrats

    President Trump has scrapped the tax plan he campaigned on and is going back to the drawing board in a search for Republican consensus behind legislation to overhaul the tax system.

    http://www.dailymail.co.uk/news/article-4396916/Trump-taxes-President-scraps-tax-plan-timetable-threatened.html

  • socalbeachdude
  • socalbeachdude

    Great debt unwind: consumer bankruptcies jump, first since 2010

    http://wolfstreet.com/2017/04/08/commercial-bankruptcies-rise-consumer-bankruptcies-up/

  • socalbeachdude

    The US college debt bubble is becoming dangerous

    Rapid run-ups in debt are the single biggest predictor of market trouble. So it is worth noting that over the past 10 years the amount of student loan debt in the U.S. has grown by 170 percent, to a whopping $1.4 trillion — more than car loans, or credit card debt.

    Indeed, as an expert at the Consumer Financial Protection Bureau recently pointed out to me, since 2008 we have basically swapped a housing debt bubble for a student loan bubble. No wonder New York Federal Reserve president Bill Dudley fretted last week that high levels of student debt and default are a “headwind to economic activity.”

    In America, 44 million people have student debt. Eight million of those borrowers are in default. That’s a default rate which is still higher than pre-crisis levels — unlike the default rate for mortgages, credit cards or even car loans.

    Rising college education costs will not help shrink those numbers. While the headline consumer price index is 2.7 percent, between 2016 and 2017 published tuition and fee prices rose by 9 percent at four-year state institutions, and 13 percent at posher private colleges.

    The average debt load individual graduates carry is up 70 percent over the past decade, to about $34,000.

    Transparency is also key — the student loan market as a whole is hopelessly opaque. In one recent U.S. study, only a quarter of first year college students could predict their own debt load to within 10 percent of the correct amount. Truth in lending documents would help, as would loan counseling paid for by colleges. Sadly, the agency that is leading the fight on both — the CFPB — is under attack from Trump himself.

    But the administration will not be able to hide from the student debt bubble. In an eerie echo of the housing crisis, debt is already flowing out of the private sector, and into the public. Before 2007, most student loans were underwritten by banks or other private sector financial institutions. Today, 90 percent of new loans originate with the Department of Education. Socialization of risk continues to be the way America deals with its debt bubbles.

    http://www.cnbc.com/2017/04/10/the-us-college-debt-bubble-is-becoming-dangerous.html

    • nohomehere

      what percentage of student loan debt as of today is public ?I noticed the transition over the years but can’t find that figure!

  • socalbeachdude

    The Tesla stock bubble just got terrifying

    Tesla’s stock has been on a tear.

    On Monday the carmaker’s market cap exceeded that of General Motors: $51 billion. This is about $15 billion more than where Tesla was valued for much of 2016. And it’s about $7 billion more than Ford.

    None of this makes any sense. Tesla’s business fundamentals haven’t changed substantially since late last year, and its first-quarter deliveries — 25,000 vehicles — set a sales pace for 2017 that will see Tesla produce about only 100,000 cars in 2017, an improvement of 20,000 over 2016.

    http://www.businessinsider.com/tesla-stock-bubble-just-got-terrifying-2017-4

    Tesla only delivered over 76,000 vehicles in 2016

    http://www.theverge.com/2017/1/3/14159292/tesla-q4-2016-delivery-production-model-s-x

  • socalbeachdude

    Federal Reserve Work to Shrink Balance Sheet by 50%+

    Over the course of this year, the Federal Reserve FOMC which is the policy making committee of the Federal Reserve has announced in their minutes that they will be very substantially shrinking their balance sheet from around $4.4 trillion down to around $2 trillion.

    Much of that will be done by simply letting MBS instruments mature and not replacing them. They are expected to eliminate nearly all of their MBS holdings and get back to holding only around $2 trillion in US Treasuries which will be down from their present around $2.5 trillion in US Treasuries.

  • Maple Curtain

    Funny how it was the Repubs under pressure to avert a shutdown when Obama was president, and now, it is again the Repubs under pressure to avert a shutdown with a(n allegedly) Repub president.

    American politics, as brought to you by the MSM, is Kabuki theatre indeed.

  • socalbeachdude

    IMBECILES BICKER IN DC WHILE SHUTDOWN LOOMS…

    Congress sinks into partisan morass as shutdown threat looms…

    https://www.bloomberg.com/politics/articles/2017-04-10/congress-sinks-into-partisan-morass-as-shutdown-threat-looms

  • socalbeachdude

    MUSK ADMITS TESLA STOCK ABSURDLY OVERPRICED

    Tesla becomes most valuable car company in the US: Electric car manufacturer overtakes giants GM and Ford in market capitalization but even CEO Elon Musk admits it could be ‘absurdly overpriced’

    Despite being just a fraction of the size of its competitors, Tesla Motors is now the leading automotive company in market capitalization after soaring shares over the past few months.

    http://www.dailymail.co.uk/news/article-4399850/Tesla-valuable-car-company-US.html

  • NARENDRA MODI KING of WORLD

    No worries, humanity of THE GLOBE has NARENDRA MODI

  • socalbeachdude

    30 SECRET SERVICE AGENTS FOR MELANIA BOWLING SOIRE?

    Striking out on their own: Melania takes Tiffany, Barron and THIRTY Secret Service agents to fashionable NYC bowling alley

    In a family outing, Melania (left and inset) took the two youngest Trump children to Bowlmor Lanes, in New York City on Monday afternoon. The field trip was just after Melania picked up Barron, 11, (bottom right) from the prestigious Columbia Grammar and Preparatory School and it seemed that Tiffany (top right) decided to tag along. After spending two hours at the upscale bowling venue, the family was seen ushered inside blacked-out SUVS that lined the curb outside. On the heels of the family was a dark-haired woman in a camouflaged jacket, who is rumored to be Barron’s nanny.

    http://www.dailymail.co.uk/news/article-4400158/Melania-Tiffany-Barron-Trump-bowling-New-York.html

  • socalbeachdude

    TESLA IS POSTER CHILD FOR STOCK MARKET STUPIDITY

    Tesla’s ‘crazy’ climb to America’s most valuable car company

    The luxury electric-car company Tesla has yet to turn a profit, losing hundreds of millions of dollars last year alone. But on Monday, the darling of Silicon Valley became the most valuable American car company, surpassing General Motors.

    https://www.washingtonpost.com/business/economy/teslas-crazy-climb-to-americas-most-valuable-car-company/2017/04/10/de05b9ae-1dfd-11e7-be2a-3a1fb24d4671_story.html

    • Spatial Memory

      Seems far fetched that any person or entity could take that title away from you. Rotflmao

      • socalbeachdude

        Please go buy a clue somewhere, dude!

  • Spatial Memory

    If these markets can’t scare you out (with divergence), then they’ll wear you out (with convergence.)

  • Spatial Memory

    Markets in FU N K
    Bout to get beary fugly
    Jmho

  • LonePatriot

    “Hey America. YOU’RE FIRED!!!”
    -Donald J Trump

  • hello

    hey, if there is a government shutdown, then you cant go to war

    • anonymous

      They mean a shutdown of “non-essential” government agencies. The military never gets a break. In fact, there will probably be a draft soon. When they open the door. Of war.

  • socalbeachdude
    • Spatial Memory

      News Rankings

      Retail Sales Surge in Strong Start to 2017

      Andrew Soergel • Feb. 15, 2017, at 10:20 a.m.
      Retail sales enjoyed an unexpected January jump as Americans splurged to start the new year, according to a report published Wednesday by the Census Bureau.

      Sales last month clocked in north of $471 billion, up 0.4 percent over the month and a whopping 5.6 percent on the year. December’s retail activity was also bumped up to a 1 percent gain – significantly higher than the 0.6 percent improvement that was initially reported.

      “Consumers are spending, with a big gain in January retail sales and a large upward revision to December sales,” Gus Faucher, deputy chief economist at The PNC Financial Services Group, wrote in a research note Wednesday. “Some of it is because higher gasoline prices have pushed up nominal consumer spending, but much more is because of better fundamental conditions for household spending.”

      Gas stations led gains last month with sales 2.3 percent higher than December’s total and up 14.2 percent over the year. For months, sluggish gas prices depressed gas station sales, but solidifying oil prices recently have turned that trend around.

      Sales at sporting goods, hobby, book and music stores also gained 1.8 percent on the month, with food and drinking establishments up 1.4 percent in January and electronics and appliance stores enjoying a 1.6 percent sales increase.

      And although nonstore retailers – which includes online shopping purchases – were flat on the month, such outfits surged 12 percent over the year. Health and personal care establishments enjoyed an 8.5 percent year-over-year jump, while sales at motor vehicle and parts dealers were up 6.8 percent from what was seen in January 2016.

      “This much-better-than-expected result for retail sales to start this year is going to add some credence and support to the strong recovery in consumer confidence we have seen since the presidential election,” a team of researchers at Wells Fargo Securities wrote in a research note Wednesday.

      Indeed, consumer confidence metrics have spiked in the aftermath of Election Day, as stock indexes like the Dow Jones industrial average have climbed to all-time highs. But recent sentiment reports have indicated confidence varies significantly by party affiliation, with Republicans more likely to say the U.S. economy is headed in the right direction.

      Still, Wednesday’s retail sales report broadly suggests consumers were standing on solid ground to kick off 2017, although the Wells Fargo researchers were quick to point out that January 2016 was an especially weak month for retail sales. So it wasn’t particularly hard to generate year-over-year improvement.

      Faucher, though, attributed the annual gains to “better fundamental conditions for household spending.”

      “The labor market is the major contributor, with more jobs and rising wages as firms raise pay as available workers become more scarce,” he said. “Consumer spending will continue to lead overall economic growth through 2017 as the job market continues to improve.”

      U.S. News & World Report
      Rankings & Research
      Colleges, cars, hospitals, doctors … more
      News & Opinion
      Latest headlines and news you can use
      News Education Health Money Cars Real Estate Travel
      Copyright 2017 © U.S. News & World Report L.P.

      • socalbeachdude

        Dismal US GDP numbers blow that old pumperist nonsense to shreds.

        GDPNow Q1 forecast plunges to 1.3% with vehicle sales, factory orders reports

        https://mishtalk.com/2017/03/07/gdpnow-1st-quarter-forecast-plunges/

        Even newer number put US 1st Quarter GDP at 0.6% growth, half of that much more optimistic March 2017 1.3% growth forecast!

        • Spatial Memory

          Markets CONTINUOUSLY blow your NONSENSICAL GUESSWORK to shreds. Rotflmao

          • socalbeachdude

            Too bad for the markets that GDP growth numbers can’t be bid up to totally irrational levels like stock prices!!! If they could be we’d likely see the GDP growth numbers in the 100% and higher range!!!

          • Spatial Memory

            Your IRRATIONAL GUESSWORK and LUDICROUS HOMESPUN MISCONCEPTIONS have CLEARLY BEEN REJECTED by capital markets. Sorry for your losses.

          • socalbeachdude

            What I stated are the simple and very straightforward facts regarding the PLUNGING US GDP NUMBERS. We all know how TOTALLY IRRATIONAL the markets can be and are, but that will very rapidly change in the days and months ahead as we move into the 2nd Quarter.

          • socalbeachdude

            Better look again over the past 10 days!

            Tech Stocks Experience Their Longest Losing Streak In 5 Years As Panic Begins To Grip The Market

            http://theeconomiccollapseblog.com/archives/tech-stocks-experience-their-longest-losing-streak-in-5-years-as-panic-begins-to-grip-the-market

  • socalbeachdude

    MASSIVE GLOBAL GRAIN GLUT GROWING…

    Grains piled on runways, parking lots, fields amid global glut

    http://www.reuters.com/article/us-usa-grains-storage-analysis-idUSKBN17D0EO

  • socalbeachdude

    Toshiba warns it may not survive crisis

    The Japanese conglomerate said Tuesday that there is “substantial doubt” about its ability to continue as a going concern after it reported huge losses.

    http://money.cnn.com/2017/04/11/investing/toshiba-earnings-delisting-westinghouse-crisis/

  • socalbeachdude

    Russians set to take control of Texas oil firm Citgo after its shares were used as collateral by Venezuelans ‘struggling to pay back a multi-billion dollar loan’

    Congressmen and senators have warned the White House there is a danger that Rosneft, a corporation run by the Kremlin, could soon take control of Texas oil firm Citgo.

    http://www.dailymail.co.uk/news/article-4400904/Russians-soon-Texas-oil-firm-Citgo.html

  • socalbeachdude

    United Airlines’ stock price falls nearly 3% in trading on Wall Street wiping $600MILLION off the company’s value after violent eviction of passenger

    Investors on Wall Street appear to be ready to jump ship on United Airlines in the wake of the public relations debacle triggered by the forced removal of a passenger on Sunday.

    http://www.dailymail.co.uk/news/article-4401736/United-shares-fall-3-early-trading-Wall-Street.html

  • socalbeachdude

    Great debt unwind: consumer bankruptcies jump, first since 2010

    http://wolfstreet.com/2017/04/08/commercial-bankruptcies-rise-consumer-bankruptcies-up/

  • socalbeachdude

    SEC targets fake stock news on financial websites

    The U.S. Securities and Exchange Commission on Monday announced a crackdown on alleged stock promotion schemes in which writers were secretly paid to post hundreds of bullish articles about public companies on financial websites.

    Twenty-seven individuals and entities, including a Hollywood actress, were charged with misleading investors into believing they were reading “independent, unbiased analyses” on websites such as Seeking Alpha, Benzinga and Wall Street Cheat Sheet.

    The SEC said many writers used pseudonyms such as Equity Options Guru, The Swiss Trader, Trading Maven and Wonderful Wizard to hype stocks.

    It said it found more than 450 problem articles, of which more than 250 falsely said the writers were not being paid.

    “This is different from the fraud cases that you usually see us bring,” Stephanie Avakian, acting director of the SEC enforcement division, said on a conference call.

    “Here, we allege that the fraud was in presenting the analysis as impartial,” she said. “It was bought and paid for.”

    Seventeen defendants, including Galena Biopharma Inc, ImmunoCellular Therapeutics Ltd and Lion Biotechnologies Inc, agreed to pay more than $4.8 million, including fines, to settle, and to refrain from further wrongdoing.

    http://www.reuters.com/article/us-sec-fakenews-idUSKBN17C1YP

  • socalbeachdude
  • socalbeachdude

    The troubles at the American mall are coming to a boil

    A fresh round of distress signals sounded in the retail industry this week, as another big-name chain announced hundreds of new store closings and still others moved aggressively to recalibrate their businesses for the online shopping stampede.

    Payless ShoeSource filed for Chapter 11 bankruptcy and outlined plans to immediately close nearly 400 of its 4,400 stores globally. Ralph Lauren is shuttering its flagship Polo store, a foot-traffic magnet on tony Fifth Avenue in Manhattan, the latest step in a massive cost-cutting effort. Big-box office supplies stalwart Staples is reportedly considering putting itself up for sale.

    The shakeout among retailers has been building for years and is now arriving in full force.

    https://www.washingtonpost.com/news/business/wp/2017/04/05/the-troubles-at-the-american-mall-are-coming-to-a-boil/?utm_term=.609d3a9af920&wpisrc=nl_az_most&wpmk=1

  • socalbeachdude

    America’s Retailers Are Closing Stores Faster Than Ever

    The battered American retail industry took a few more lumps this week, with stores at both ends of the price spectrum preparing to close their doors.

    At the bottom, the seemingly ubiquitous Payless Inc. shoe chain filed for bankruptcy and announced plans to shutter hundreds of locations. Ralph Lauren Corp., meanwhile, said it will close its flagship Fifth Avenue Polo store — a symbol of old-fashioned luxury that no longer resonates with today’s shoppers.

    And the teen-apparel retailer Rue21 Inc. could be the next casualty. The chain, which has about 1,000 stores, is preparing to file for bankruptcy as soon as this month, according to people familiar with the situation. Just a few years ago, it was sold to private equity firm Apax Partners for about a billion dollars.

    https://www.bloomberg.com/news/articles/2017-04-07/stores-are-closing-at-a-record-pace-as-amazon-chews-up-retailers

  • socalbeachdude

    The danger of a sell-off in US stocks grows

    You might put it as “what’s bad for General Motors is bad for the stock market.”

    Recent history suggests American automobile sales indicate subsequent moves in U.S. equities. Declines in 2011 and 2012 were followed by a retreat in the S&P 500 index, and gains in the fall of 2015 came before a market rally. While the relationship isn’t exact, and correlation doesn’t equal causation, the surprising slump in vehicle sales last month comes just as investors are questioning how much to believe off-the-charts surveys of American confidence levels.

    The retreat in the auto sector reported Monday mirrors lackluster broader consumer spending data released Friday. Both readings fly in the face of the two most-followed gauges of consumer sentiment, now at 17- and 11-year highs. It also contrasts with an index of optimism among small businesses — local car dealers among them — holding near levels unseen since the mid-2000s.

    https://www.bloomberg.com/news/articles/2017-04-04/danger-of-sell-off-in-u-s-stocks-grows-as-auto-sales-disappoint

  • socalbeachdude

    The smart money is record ‘short’ in stocks, and the dumb money is record ‘long’

    http://www.marketwatch.com/story/the-smart-money-is-record-short-in-stocks-and-the-dumb-money-is-record-long-2017-04-05

  • socalbeachdude
  • socalbeachdude
  • socalbeachdude
  • GSOB

    So much for the country and her leadership and the global reserve currency. teeter totter…..goes the petrodollar….and everyone hollers

    http://theeconomiccollapseblog.com/archives/tag/petrodollar

  • omegamanradio

    God is not calling the troops to abandon ship. This is cowardice and a call for mutiny and is reckless. God is not double minded and instead of tucking tail and running and throwing our president under the bus did you consider that God placed trump in office (isaiah 45) to give us more time and is calling for you and I to stand our ground and fight in the spirit for our nation and begin to BIND and LOOSE in Jesus Christ Name?

    I lived 5 years overseas and there is no place of safety outside of the Lord Jesus Christ. Furthermore we were called to do exploits in this hour and the GREAT COMMISSION has never been rescinded.

    Why are we not obeying Mark 16 with signs that follow? How can your light shine and we bring in the harvest when instead we dig holes and hide our lights in bunkers and run from the hills like cowards?

    We are called to be soldiers of the LORD Jesus Christ and make war on the hosts of hell and preach the gospel, cast out devils and heal the sick in Jesus Name

  • GSOB

    Join the discussion…

  • Bob

    Do not forget the GDP figure does not back out inflation. If economic experts adjust for inflation, the economy contracted and will continue to contract. 95 million dropped out of the labor force.. No one produces anything in manufacturing anymore in the United States. Our quality of life will decline to a 3rd world country at this pace.

    • socalbeachdude

      The US is the 2nd largest manufacturing economy in the world and is a very close second to China.

  • socalbeachdude

    RUSSIA’S FIRST US GASOLINE COMPANY – RUSSGO?!!!

    Russians set to take control of Texas oil firm Citgo after its shares were used as collateral by Venezuelans ‘struggling to pay back a multi-billion dollar loan’

    Congressmen and senators have warned the White House there is a danger that Rosneft, a corporation run by the Kremlin, could soon take control of Texas oil firm Citgo.

    http://www.dailymail.co.uk/news/article-4400904/Russians-soon-Texas-oil-firm-Citgo.html

  • socalbeachdude

    CUSTOMERS UNITED AGAINST UNITED AIRLINES…

    ‘I will NEVER fly with them again’: Angry customers shred United Airlines loyalty cards and swear off the company after passenger was dragged off an overbooked flight

    Many social media users posted photos cutting up their frequent flyer cards and United sponsored credit cards, and promised to cancel accounts with the airline.

    http://www.dailymail.co.uk/news/article-4403298/United-customers-cut-cards-cancel-accounts.html

  • J.j. Cintia

    Are you all on the edge of your seats waiting to see if Congress finally admits they’re broke, default on their obligations and lose their political futures? Or will they just write more IOUs for your Grandkids to pay? Wow, this could go either way here. Its like wondering what day it is Tomorrow isn’t it? Gosh, you’re probably all full of anticipation to see C-Span and the possible Unanimous Vote.

    • socalbeachdude

      Indeed. Congress will again do nothing in the way of any discussion or debate and then at the 11th hour pass another nearly unanimous resolution to either 1) suspend the federal debt ceiling again, or 2) increase the federal debt ceiling by a substantial amount over its present $20 trillion limit.

  • socalbeachdude

    Please clean up your foul potty mouth.

    • awb22

      No.

      • socalbeachdude

        Being rude and crash and foul mouthed certainly does not aid your credibility.

        • awb22

          I’m not the one with credibility issues.

          • socalbeachdude

            Indeed you have NO CREDIBILITY after many of your nonsensical comments today!

          • awb22

            Indeed? Sounds rather british, there, Patel.

          • socalbeachdude

            Huh?

  • socalbeachdude

    The US has never once defaulted on any of its government debt and the flip side of all debt is that it is an ASSET to its owners and the US government debt is the safest and most risk free debt in the world which is why holding it as an asset is so popular.

    As to the US government debt of around $20 trillion, are you somehow not aware that the US government is the largest holder (owner) of that debt itself primarily through the ownership of various federal agencies including the Social Security and Medicare Trust funds which have invested nearly all of their assets in US Treasuries? Repudiating that federal debt would render Social Security and Medicare TOTALLY INSOLVENT without nay funds at all to pay beneficiaries.

    • awb22

      Newsflash, they will be soon enough, already.

      • socalbeachdude

        Nope.

        • awb22

          The CBO might disagree.

          • socalbeachdude

            How would the CBO in any way disagree with the factual statement I made above?

  • socalbeachdude

    Huh? That has nothing whatsoever to do with me at all.

    • awb22

      If you say so, D Patel.

      • socalbeachdude

        How can you be so utterly clueless?

        • awb22

          I was going to ask you the same thing.

          • socalbeachdude

            I’m obviously not. You obviously are.

  • DB200

    0.6% on an annualized basis is already negative territory. Population growth is approximately 0.75% annually, so per capita GDP is decreasing.

    Yellen must be sweating in bed at night. What to do with the interest rate?

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