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lquadland10 (< 20)

QE3 starts tomorrow? Now just what happned?OK Fed explain.Just blew through the Debt Limit?

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April 14, 2011 – Comments (16) | RELATED TICKERS: AUY , SVL , GLD

Did the FED just run out of QE 2? With the bill that congress just passed are we now over the debt ceiling? Something funky going on with the debt clock. Tell me what it means fools. Then you have Soros planing Brent Wood 3.

http://www.usdebtclock.org/

Will they sneak in Climate Change in?

http://caps.fool.com/Blogs/climate-change-and-why/575342

Then we have the Citi warning.http://www.zerohedge.com/article/citi-issues-usd-warning-significant-downside-risk-usd-and-jpy-if-market-begins-price-unsusta

The USA dodged the 2011 budget bullet last weekend and is now facing the debt ceiling cannonball. Although the debt ceiling is not normally considered a tool by which fiscal consolidation is achieved, it seems likely that there will be a fair amount of brinkmanship before the debt ceiling is raised. Investors and most economists expect political posturing as the debt ceiling debate drags on through late May and June, but no event that affects perceptions of US credit quality. So far US yields are showing no pressure and US CDS is trading well within the range of the last 15 months.

However I believe that we are over the Debt Ceiling as I write. Please tell me I misread this also and I am wrong Please? 


Did someone forget to tell us we are broke? Nope ever Rangel say's we don't have the money. Ok and what 5 war's we are in that the Judge talks about? 

Personally I think that anyone making over 250k in SS should have all payments frozen. No cost of living increases. Also get rid of 75% of the drug payments. Between Bush and Obama they just gave the house away on that one. That is just my start. Anyone making 500 million a year on ss gets a 20% decrease May 1. But hey I don't have the facts on who makes what on Social Security. 

Oh well let me know fools. It is getting real hinkey out there. BE safe David in Qatar.

16 Comments – Post Your Own

#1) On April 15, 2011 at 10:16 AM, buffalonate (96.90) wrote:

The debt ceiling won't be reached until June. 

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#2) On April 15, 2011 at 11:12 AM, lquadland10 (< 20) wrote:

Thank you. What is the debt limit? Did you look at the clock that shows we are at 14,297 tri. if you go to world debt part it shows we are at 100.12% of GDP? They took out QE2. Does that mean all the money if finished? No the Debt Cealing has been reached.We are at a 14,297 national Debt. Geithner couldn't get his taxes right and he is the one at the Federal Reserve Bank that helped come up with the CBO's for splitting up ones morgage. Get real the Fox in now in charge of the Hen Houuse so to speak. Well the new Fox that replaced the old Fox.

Raising the debt ceiling is similar to raising the limit on an individual's credit card. The United States' debt ceiling has been set at $14.294 trillion, a limit that Treasury Secretary Tim Geithner estimates will be reached by around May 16.

If the United States' debt does reach that limit, lawmakers have to raise the ceiling to ensure that the government can keep borrowing more money.

The United States owes debt to foreign investors, pension funds and various government programs.

From a Post I found. I do believe it is more than 400,000% by now.  http://seekingalpha.com/instablog/239719-james-quinn/18242-national-debt-by-year
Below is the National Debt by year since the creation of our Republic. Since the creation of the Federal Reserve the National Debt has gone up by 400,000%. The most fascinating period was the Presidency of Andrew Jackson from 1829 to 1837. He inherited a National Debt of $58 million and reduced it to $33,000 by 1835. No wonder the bankers hated him. We've added $10 trillion of debt since 1981. Did Andrew Jackson not dodge an assassination attempt? Date  Dollar Amount Today.

Date  Dollar Amount Today. 14.3 Trillion more or less.
07/22/2009

09/30/2008  11,634,723,000,000.0010,024,724,896,912.49 09/30/2007   9,007,653,372,262.48

09/30/2006   8,506,973,899,215.23

09/30/2005   7,932,709,661,723.50

09/30/2004    7 ,379,052,696,330.32

09/30/2003    6,  783,231,062,743.62

09/30/2002    6  ,228,235,965,597.16

09/30/2001    5,807,463,412,200.06

09/30/20005 ,674,178,209,886.86

09/30/19995,656,270,901,615.43

09/30/19985 ,526,193,008,897.62

09/30/19975 ,413,146,011,397.34

09/30/19965 ,224,810,939,135.73

09/29/1995  4,973,982,900,709.39

09/30/19944  ,692,749,910,013.32

09/30/1993  4,411,488,883,139.38

09/30/199   24,064,620,655,521.66

09/30/1991    3,665,303,351,697.03

09/28/1990    3,233,313,451,777.2509/29/19892,857,430,960,187.32

09/30/1988    2,602,337,712,041.16

09/30/1987   2,350,276,890,953.00

09/30/1986      2,125,302,616,658.4209/30/1985* 1,823,103,000,000.00

09/30/1984* 1,572,266,000,000.00

09/30/1983* 1,377,210,000,000.00

09/30/1982* 1,142,034,000,000.00

09/30/1981* 997,855,000,000.00

09/30/1980* 907,701,000,000.00

09/30/1979*  826,519,000,000.00

09/30/1978*  771,544,000,000.0009/30/1977* 698,840,000,000.000

6/30/1976  * 620,433,000,000.0006/30/1975* 533,189,000,000.0

006/30/1974  475,059,815,731.5506/30/1973458,141,605,312.

0906/30/1972  427,260,460,940.50

06/30/1971  398,129,744,455.54

06/30/1970    370,918,706,949.93

 

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#3) On April 15, 2011 at 11:30 AM, Jbay76 (< 20) wrote:

I really don't think it is possible for someone on SS to be making six figures

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#4) On April 15, 2011 at 11:38 AM, lquadland10 (< 20) wrote:

Warren Buffett comes to mind.

Ret. Hedge Fund owners.

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#5) On April 15, 2011 at 11:41 AM, chk999 (99.98) wrote:

The maximum benefit for some retiring this year is 2,366/month which is 28,392 per year. Where do you get 250k?

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#6) On April 15, 2011 at 11:43 AM, chk999 (99.98) wrote:

Warren Buffett is employed full time as head of Berkshire Hathaway, making 100,000 per year. (Yes, that is really his salary) He does not draw SS. 

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#7) On April 15, 2011 at 12:50 PM, lquadland10 (< 20) wrote:

I was just going what I heard him say one time that he only takes a 1.00. He must have misspoked. ok so where did you get the max benafit figure?

Oh and did we hit the Debt Ceiling today? 

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#8) On April 15, 2011 at 1:08 PM, chk999 (99.98) wrote:

The maximum SS benefit is from http://ssa-custhelp.ssa.gov/app/answers/detail/a_id/5/~/maximum-social-security-retirement-benefit

 

The annual salary of Warren Buffet is from here: http://www.bloomberg.com/news/2011-03-11/buffett-retains-his-100-000-berkshire-salary-after-faulting-pay-excesses.html

You need to learn to do better research Lynda. 

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#9) On April 15, 2011 at 1:30 PM, eldemonio (98.81) wrote:

Give her a break check, maybe Lynda just misspoked.

 

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#10) On April 15, 2011 at 2:06 PM, leohaas (93.62) wrote:

No, there are no plans for QE3.

And no, $250k in SS is impossible.

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#11) On April 15, 2011 at 2:26 PM, Jbay76 (< 20) wrote:

I don't think lquadland is misspeaking...from the original post

"Personally I think that anyone making over 250k in SS should have all payments frozen. No cost of living increases. Also get rid of 75% of the drug payments. Between Bush and Obama they just gave the house away on that one. That is just my start. Anyone making 500 million a year on ss gets a 20% decrease May 1. But hey I don't have the facts on who makes what on Social Security. "

Read the last line, I agree with check, do the research before you start lambasting SS

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#12) On April 15, 2011 at 5:25 PM, buffalonate (96.90) wrote:

Here is Tim Geitner with a letter stating that the debt limit will be reached by May 16th.  http://www.treasury.gov/connect/blog/Pages/letter-to-congress.aspx

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#13) On April 15, 2011 at 6:18 PM, whereaminow (73.77) wrote:

BE safe David in Qatar.

Thanks! Don't worry about me. Wouldn't be my first revolution. Ugh, here we go again...

(In all seriousness, Qatar is very safe unless America attacks Iran. Then I could see some missiles heading this way.)

David in Qatar

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#14) On April 15, 2011 at 7:18 PM, lquadland10 (< 20) wrote:

Hey. I just wanted a yes or no on the debt limit. Then I wonder out loud about SS and you go nuts. I should not think out loud. ;-P

Lambasting. Oh no I was not. I will when I have time to check the figures out but just a gut feeling I don't see the numbers working out. Ops........... there I go again Talking about feelings and thoughts. No you will know when I lambaste something. :-)

Don't like it don't read it. 

TKS Buffalonate. I think we have reached it allready according to the US dept clock. They also don't count

1.Fannie Mae and Freddie Mac obligations excluded

2. Guaranteed obligations excluded

See also: Temporary Liquidity Guarantee Program and Exchange Stabilization Fund 

*The current Debt Limit was increased from $12.394 trillion to $14.294 trillion effective February 12, 2010. See the FAQs for more information on Debt Subject to Limit.

So according to the clock we are at 14.298...... trillion. 

So just a little over and it will fluctate on Monday tax day I hope. Ops the clock just raised the Debt  limit to 14,230 trillion. 

Yep we are over the ceiling unles it changes

 

 

Glad you are safe David. 

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#15) On April 15, 2011 at 9:49 PM, buffalonate (96.90) wrote:

The Federal Reserve is independent by design and whatever they do is off the books.  I know they have monetized short-term debt several times but I am not sure if that decreases the official debt or not.  The national debt ceiling only deals with Treasury operations.

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#16) On April 19, 2011 at 5:55 PM, lquadland10 (< 20) wrote:

Thank you buffalonate. We are not at 14,309 Trillion. http://www.usdebtclock.org/

Only a mer  71 billion over.

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