I have no idea why these guys dont call out their fellow Senators as being bought and paid puppets. Bunning just simply say, " And I want the American people to be well aware of the majority who are voting in favor of Bernanke are voting with their wallets and the contributions made to them by banking. And I hope every 5pm news network sound bites this clip so they understand a vote by any elected Senator for Bernanke is a vote AGAINST their constituents. Wall Street just received record bonuses courteousy of their money. They caused this mess and YOU are suffering for it and all of you still unemployed look no further to the TARP payments and 0% rates and stolen wealth.And I am telling you as evidenced by Brown in MA anyone who votes for Bernanke will not be allowed a pass by the American people and the silent inflation Bernanke perpetuates.
5. Debt ceiling is raised to 100 % GDP and America is now at Banana-republic levels under prudent circumstances the rating had to be downgraded to BBB best case but still remains at AAA which is another proof that this rating charade does not work and is not supposed to work.
It's Official: Democrats Succeed In Pushing New Debt Ceiling To $14.3 Trillion
A mere three hours before the Bernanke cloture vote, America just got permission to hit 100% Debt/GDP. Thank Senate Democrats who just approved an amendment increasing the US debt ceiling by $1.9 trillion. The 60/40 vote was across party lines and only successful because Republican Sen.-elect Scott Brown has yet to be seated.
From Fox News:
Democrats had to scramble to approve the plan, which means they won't have to vote on another increase until after the midterm elections this fall. To win the votes of moderate Democrats, President Obama promised to appoint a special task force to come up with a plan to reduce the deficit. The House must still vote on the measure before it's sent to Obama for his signature.
The Bernanke debate in the senate has started. Readers can watch it live on CSPAN.
The latest Bernanke tally is as follows (courtesy of Jim Bianco):
Per Dow Jones:
- Voting “Yes”: 53 (38 Democrats, 14 Republicans, 1 Independent)
- Voting “No”: 20 (5 Democrats, 14 Republicans, 1 Independent)
- Officially Undecided: 21 (11 Democrats, 10 Republicans)
- Unknown: 7 (3 Democrats, 4 Republicans)
- Voting “Yes”: 51 (36 Democrats, 14 Republicans, 1 Independent)
- Voting “No”: 22 (6 Democrats, 15 Republicans, 1 Independent)
- Unknown/Undecided: 27 (16 Democrats, 11 Republicans)
Note Bloomberg includes Paul Kirk of MA (as a yes) and not Scott Brown.
6. Prechter claims what I can fully support from all angles that tough times are ahead in markets and you better get out now as I had written almost a year ago.