Hissssssssss...... in [Market-Ticker]

Posted 2012-01-30 15:06
by Karl Denninger
in Blogtalk

Hissssssssss......

Oh boy.... Greece eh?

No, it's the rest that's the problem. Like Portugal, for example.

When you hear the overpressure valve hissing like this it's time to run.

http://blogtalkradio.com/marketticker - 3:30 Central today!

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User Info	Hissssssssss...... in forum [Market-Ticker]
Drench Posts: 28631 Incept: 2009-11-10	Here we go... 2012-01-30 16:31:11 Permalink
Drench Posts: 28631 Incept: 2009-11-10	http://www.theonion.com/articles/even-ce.... 2012-01-30 16:33:52 Permalink
Workerbee Posts: 1396 Incept: 2009-03-18 * Winter is Coming *	Great show so far! ---------- Prepare for Our Valley Forge ~ Appeal to Heaven ~ ...that those "who having no appeal on earth to right them, they are left to the only remedy in such cases, an appeal to heaven." ~John Locke 2012-01-30 16:51:38 Permalink
Rjsasko Posts: 67 Incept: 2009-03-23 aurora, IL	What do we do in the U.S. after we hit the wall and the rate hikes on the interest costs on the debt are far, far more than can be realistically taxed even if every other budget item is eliminated? It's unconstitutional to renege. Considering the incredible amounts of real estate owned by the Federal Government including mineral/grazing/fishing rights etc. is there any way to sell/lease those rights into a long term pay down of our astronomical debt and could this be used along with a Balanced Budget Amendment to negotiate a dramatically lower interest rate so we could actually make a serious dent in the principal? There is no way we are going to stop borrowing at these ridiculous levels and tell the FSA they can't have what they think they are owed. Maybe a third to a half of Republicans/Independents would go along with massive cuts in spending and exactly ZERO Democrats. It would mean the end of the Democratic Party. The Democrat strategy now is class warfare,Defense cuts, tax increases on the half of the country that actually pays taxes, and spending increases. We are becoming Europe. And let me tell you that on the ground around Chicagoland the usual suspects are screaming for another massive Federal infrastructure spending package. The union halls are full of guys with no work and they are getting very, very aggressive against non-union operations. 2012-01-30 18:03:42 Permalink
Genesis Posts: 130658 Incept: 2007-06-26	Amend the Constitution. ---------- I don't care* if it makes sense -- only if it makes money. -- Me* Bank (n): See scam, fraud and theft. *Eat a bankster -- they're low-carb.* *What part of "shall not be infringed" was unclear?* 2012-01-30 18:59:18 Permalink
Phxkevin Posts: 353 Incept: 2010-06-25 Phoenix Arizona	I think the Balanced Budget Amendment is just fluff, it will never pass congress and the majority of the states, and if it does, it won't be enforced. I can see a future for a "new currency" with a forced exchange rate, sort of like when FDR seized the gold. BTW, remember that hard rock mining on federal lands is still at about $5 an acre, too many vested interests will be opposed to selling federal lands. ---------- Congress persons are all the same, republican or democrat, conservative or liberal. They talk a good game, but the results (or lack thereof) show something different. 2012-01-30 19:11:50 Permalink
Splashdown Posts: 556 Incept: 2010-04-05 Central Illinois	Article in todays local newspaper...Illinois unpaid bills to quadruple in five years...time to take a look at pensions. http://www.pjstar.com/free/x1672352571/I.... Yeah, I know - get the **** out of Illinois... Last modified: 2012-01-30 19:22:53 by splashdown 2012-01-30 19:14:04 Permalink
Abn0rmal Posts: 9261 Incept: 2009-01-10	Rjsasko wrote.. It's unconstitutional to renege. I don't think you give them enough credit for being devious. If Congress passed a special "capital gains tax" on the redemption of Treasury bills and notes it wouldn't be the most blatantly unconstitutional thing they do on a routine basis. 2012-01-30 19:21:03 Permalink
Fisticuffs Posts: 1084 Incept: 2007-07-28	Wouldnt Ben bail out the euro banks each time a country defaults or pays only a portion of what is owed? He has already shown he will act outside of the Fed Res Act and Congress has shown they will not even step on his toes. ---------- B(ern)ank(e) 2012-01-30 22:00:03 From PDA Permalink
Bertdilbert Posts: 2649 Incept: 2008-12-22 CA	The debt does not matter in that the government has the power to make it go "poof". It may not be good for the value of the dollar but what cannot be paid cannot be paid. ---------- Dear Euroland: Relax, Germany has a plan for your money! Political Capital Defined: We are out of money but will tax our citizens for whatever it takes to "SAVE" the Euro. 2012-01-31 00:56:28 Permalink
Ct1977 Posts: 231 Incept: 2009-08-13 East Hartford, CT	Great show Karl, thanks. I just wonder how long the sovereign ponzi games can be kept up. Rule of law is long gone and the technocrats make and change the rules to suit the continuation of ponzi. How long can they keep it up? 2012-01-31 07:26:30 Permalink
Genesis Posts: 130658 Incept: 2007-06-26	That's always the $64,000 question, but it appears we're coming to the end of the rope, and the floor is a good ways down... ---------- I don't care* if it makes sense -- only if it makes money. -- Me* Bank (n): See scam, fraud and theft. *Eat a bankster -- they're low-carb.* *What part of "shall not be infringed" was unclear?* 2012-01-31 07:31:03 Permalink

Rjsasko wrote..