Here Comes the Debt Ceiling Debate
July 13, 2015 4:00pm by Barry Ritholtz
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We’ve already got one clown show starting. Two at once seems like a waste of resources. Who schedules these things?
The GOP leadership schedules them to coincide with primary season. They think it wins them votes.
Shut down government! End gun checks!
The GOP is the responsible party!
They hate debt! Tough love for poor! Generous incentives for the billionaires! It’s all very logical if you just don’t think about it past your emotions of HATE for the liberals!
Great quote on TBP today
“Men stumble over the truth from time to time, but most pick themselves up and hurry off as if nothing happened.” -Winston Churchill
It’s time to end this debt ceiling nonsense. Congress approves spending. Congress approves taxes. Both are in the budget. A separate debt ceiling is superfluous.
Woo-hoo!!!!!! A chance to play the VIX yet again!!!
Or buy the Euro!!!
gentlemen, isn’t it funny that debt ceiling and fiat money are two things that don’t stay together, one being the opposite of the other ? the rules have been set in 1939 & 1941, on ‘hard money’ times. Since Bretton Woods the meaning and operational use of money has changed a bit. We are fighting along rules acceptable when to mint dollars coins (or print bills) you needed gold. Now you need a keyboard and Ms Yellen nod only, if you go at a FED bank and handle them a dollar bill they give in exchange … a newer dollar bill, not a fraction of oz out of a gold bar the cashier has in his drawer. Once the problem was to let the cashier ALWAYS have that bar available, and so the was a limit of expenditures by gov.nt (like you credit card and C/A today, exactly that). Now this is gone, no longer exists. So what’s the hell about a non-existent limit ? Grown up people fighting on nothing … not a pleasant view
Need a “popular movement” to raise the debt ceiling. War is popular! Start bombing Iran because Obama wants a legacy not including 200,000 bombing sorties . Then another couple of trillion wasted blowing holes in the desert. Collateral benefit, US brand of perpetual bombings bankrupts the poor.