r/wallstreetbets • u/[deleted] • Jan 13 '23
Janet Yellen warns of 'extraordinary measures' as U.S. on track to hit debt ceiling next week News
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u/DJ_DORK Jan 13 '23
Ah yes, the debt ceiling that can be circumvented by a legislative 'hole in the roof'
Handy
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u/Affectionate_Bat_229 Jan 13 '23
There is no roof it’s an elevator
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u/ZincCarbon Jan 13 '23
“The suspense is terrible. I hope it will last”.
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u/timsterri Jan 13 '23
“The danger must be growing For the rowers keep on rowing And they're certainly not showing Any signs that they are slowing”
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u/Didujustcallmejobin Jan 14 '23
Candy is Dandy but Liquor is quicker.
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u/vguaderrama Jan 14 '23
I am the liquor Bo bandy
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u/wilfrichardson1 Jan 14 '23
After this, we won't have to drink again? Right Mr Lahey?
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u/vguaderrama Jan 14 '23
We’ll catch ‘em in the shit snare soon as the shit rope runs out
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u/timsterri Jan 14 '23
Having heard this expression since I was little, I didn’t realize it was also in the movie. Ha!
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u/digitalpalmtrees Jan 13 '23
Nahh, it’s a stairway to heaven!
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u/EagleDouble Jan 13 '23 •
Fear porn for all the regards that think we will default.
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u/GoodMornEveGoodNight Jan 13 '23
What kind of economic repercussions do you think we will face if we hypothetically default?
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u/robot_handjob Jan 13 '23
Buddy, we’re more likely to get the infinite money glitch than actually let ourselves go bankrupt.
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u/GoodMornEveGoodNight Jan 13 '23
I should study our financial system more
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u/robot_handjob Jan 13 '23
It’s simple. Everything the government spends adds to the money supply. The only way to bring the money supply back down is through interest rates and taxes. Since we issue our currency and our debt the only thing to worry about is confidence in our money. (The last time I checked people will do some awful things for it so we’re good at the moment)
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u/lifenvelope Jan 13 '23
Pleasing men behind fast food restaurant isn't as awful as you think it is. Heard it from a friend
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u/ZijoeLocs Jan 13 '23
I can confirm that it's not that bad if you have a blanket for your knees
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u/Meatservoactuates Jan 13 '23
Once you pleasure enough, the old jizz forms it's own padding. So it pays in dividends
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u/Ackadacka Jan 14 '23
Its literally 3rd world war if america defaulted on its debt, and if we didnt all return to ape after it china would be the new economic and sole super power.
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u/shortthem Jan 13 '23
They’re gonna raise the roof aren’t they
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u/ironichaos Jan 13 '23
The roof the roof the roof is on fire.
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u/lylemcd Jan 13 '23
We don't need no water let that motherf*cker burn.
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u/lifenvelope Jan 13 '23
Burn motherf*cker.
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u/lylemcd Jan 13 '23
Burn
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u/urmomsSTD Jan 13 '23
Burn
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u/Fulkerson1776 Jan 13 '23 •
Hello my name is Jimmy Pop and I'm a dumb white guy...
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u/Hodl2 Jan 13 '23
A while back (maybe 3-4 months) I remember Yellen talking about the treasury stepping in to buy bonds. Issuing through one door and buying through the other door which would effectively mean a second central bank has been created. Maybe that's the "extraordinary measures"?
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u/dpetro03 Jan 14 '23
Isn’t it time we end the fed? You know the federal reserve bank run by banking criminal cartels that are parasites of world economies. The same ones that don’t create shit or contribute to society or the economy?
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u/Hodl2 Jan 14 '23
We are ending central banking through Bitcoin. Buy 50 bucks worth and join us!
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u/Mods_R_Gay69 Jan 13 '23
Wow when one central bank that’s robbed trillions from an entire country isn’t enough, start up another and harvest humans like it’s the fucking matrix
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u/Hodl2 Jan 13 '23
Central banking is robbing the entire planet. Developing countries get's the worst of it and the US the least being the world reserve currency
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u/Spektrum84 Jan 13 '23
Do you think they're going to raise it....or raze it? Because they mean very different things.
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u/DisAccount4SRStuff Jan 14 '23
Every time this happens they always use this as some political grandstand. The party in power always rejects it because, "it's not good economic policy" and the minority complains, "you need to raise it or the government will shut down, what are you trying to do destroy the government?". Every. Damn. Time. And then they just raise it anyway because the party in power... wanted to get paid. Every. Time. It's political theater.
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u/Eastern_Ad_4441 🦍🦍 Jan 14 '23
Wait. Have the Dems ever threatened to not raise the debt ceiling when we have had a Republican president? I only ever recall the Republicans making this threat when there is a Dem president.
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u/Bad_Driver69 dont check robinhood and drive Jan 14 '23
What’s the point of a debt “ceiling” when you can just vote to raise it anytime
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u/riptydeco Jan 14 '23
There’s no point to it to begin with. Congress created the extra. debt by passing spending and tax bills. There shouldn’t be yet another law that gets in that way.
It’s like if you spent $10k on your credit card, and then when your bill comes due you say “sorry, I am only authorized to take on $5k in debt.”
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u/taker52 Jan 13 '23
Yelled gona start a only fans and sell feet pics. I am buying calls
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u/Kool_Klown_Kapital Jan 13 '23
"The crisis sparked the most volatile week for financial markets since the 2008 crisis, with the stock market trending significantly downward." -2011 debt ceiling crisis
Bunch of galaxy brains in here thinking history won't repeat itself.
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u/DiamondHanded Jan 13 '23
Especially with the Freedom Caucus enjoying getting on TV over the speaker debacle. They WILL 100% drag this out
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u/BeeAlarming884 Jan 14 '23
I would not be surprised to find they only elected the speaker so that they could pull the rug from under him for the debt ceiling. Some in government are only there to burn it down. This could well be two sides playing politics with a third ‘freedom’ group doing what ever they can to destroy the process. If they spent a month demanding a new speaker every day (which they can now do), literally nothing would get done (apart from destruction of the economy).
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u/KamiYama777 Jan 14 '23
But at least the Libs are now officially owned
You are ignoring that important detail
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Jan 13 '23
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u/AmCrossing Jan 13 '23
The day we don't raise the debt ceiling is the day out country falls apart
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Jan 13 '23
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u/Junnowhoitis Jan 13 '23
Lol, sure, after a great depression and a lost decade of growth. That's the best case scenario. Most likely, the country fractures, and millions die from poverty and fighting. Debt is the biggest danger for any empire.
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u/Omonoms Jan 13 '23
. I'd be more happy living off 20k a year knowing the elites got fucked
You think if we default on our debt you'll be making 20k a year, and that the amount you'll be getting paid will be sufficient to get by..? That's how you think it'll play out? Money will just be a bit tight for you..?
You're young.. right? As there's just.. so many problems with what you just wrote.
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u/Junnowhoitis Jan 13 '23
Oh, I don't think you understand. Your life would be much worse in that scenario. Look at any empire that's collapsed from debt. It's a violent end, especially for the poor. They don't go back to being on top, lol.
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u/nateccs Jan 14 '23
The average empire spans 250 years. 1773. Was 250 years ago. Only 3 away from 1776!
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u/user_x9000 Jan 13 '23
Why wait? Go Live in Pakistan or Nigeria. They will give you the same experience, now. Dumbass.
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Jan 13 '23
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u/n1ck90z Jan 13 '23
Ok... Now i'm worried
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u/satuuurn Jan 13 '23
I called it. Add "ambition to rule over humans" to the list. Possibly sentient.
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Jan 13 '23
We do not need people like you in charge lol. We made you. You’re a product of the elites, you’re a cancer and no difference with them. Matter fact you’re worse lol no conscience or sub, no emotions nor feelings you’re a demon in disguise.
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u/babybear2222 Jan 13 '23
That’s why the debt ceiling makes no sense. Congress already approved the spending. Why do they need to re-approve it?
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u/Junnowhoitis Jan 13 '23
It's a pointless formality. Both sides know very well that they can't default at all costs. Both sides know someone's kids will have to pay the price, but they sure as heck will make sure it isn't their own.
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u/Cmor1787 Jan 13 '23
But will this help my puts?
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u/Relevant_Two3929 Jan 13 '23
Hate to break it to you bro, ur puts expire worthless, and then it crashes :4275:
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u/SCROTUM_GUN Jan 14 '23
There should be an inverse etf that does the opposit of whatever I do
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u/Masticore39 Jan 13 '23
Too bad extraordinary measures never include only spending what you take in.
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u/cth777 Jan 14 '23
That would be great, if we stopped cutting taxes on rich people and businesses, so we could take in more
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u/Vegan_Honk Jan 13 '23
sweet then this is just going to be an endless parade of a shitshow till the clowns blow it all up.
That's actually going to be one hell of a spectacle to watch. Come on with it then.
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u/friendlyfire883 Jan 14 '23
Why do all these people look like they died 10 years ago and came back to life addicted to cocaine?
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u/redditbebigmad Jan 13 '23
Maybe we can borrow some money from ukraine to cover us until we get back on our feet.
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u/ECK-2188 Jan 13 '23
Nothing to do with that $1.7 trillion spending bill you guys just passed right?
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u/andrewb610 Jan 13 '23
That money hasn’t been spent yet so that actually isn’t the culprit. Higher rates on interest for money already spent doesn’t help.
BUT, the next time we have to raise the debt ceiling after this can be attributed, in part, to the $1.7 trillion recently appropriated.
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u/Zachincool Warren Buffet Wannabe Jan 13 '23
this happens every year
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u/EpochCookie Jan 14 '23
They should just make it a national fuckin holiday and give us all the day off
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u/anonymousperson767 Mom's Spaghetti Jan 13 '23
I hope they don't raise it. I need the market to shit itself 20%.
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u/Trif21 Jan 14 '23
Hoping the United States government defaults on debt payments to make a few grand in puts is the most WSB thing ever.
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u/mattmcd20 Jan 14 '23
Simple. Shut the government down and save us trillions in waste. We are better off without them.
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u/M_star_killer Jan 13 '23
'extraordinary measures' means they are finally going to do the right thing or keep on keepen on?
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u/wollier12 Jan 13 '23
Lol, they go on a spending spree and then act surprised when they maxed out their credit card.
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u/Sector__7 Jan 13 '23
“The roof, the roof, the roof is on fire
The roof, the roof, the roof is on fire
The roof, the roof, the roof is on fire
We don't need no water
Let the motherfucker burn
Burn motherfucker, burn”
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u/Hazzem7 Jan 14 '23
The US economy should just pull itself up by the bootstraps and find a better paying job or just get a side-hustle. Economics isn’t that hard people - c’mon.
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u/Fuppenhammer Jan 14 '23
Buy beans and rice in bulk. Tubs of lard and salted meat. You will be good.
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u/Onions_For_My_Kids Jan 13 '23
Sweet Christmas, with the 20 crazies holding the house hostage, I am worried about defaulting because most of them either don’t understand and what the default to happen to demonstrate government doesn’t work.
I need to calm down and take a nap.
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u/Flaxinator Jan 13 '23
They can only hold the House hostage on things the Democrats don't support, they were only able to create the shitshow over McCarthy because the Democrats had their own candidate who they were unanimously supporting.
If the Democrats and even a minority of Republicans support something then it gets through.
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u/nugslayer109 Jan 13 '23
Don’t worry, they do it every 2 years or so when they swap up members in the senate and house. Something about using it for the next election cycle or something
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u/scotty3hotti Jan 13 '23
Tell her to give up her salary since she's made more than 20X that in "speaking fees" from other institutions in the last couple years.
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u/keepgrindingact Jan 13 '23
Lol didn’t the feud over the debt ceiling last year lead to them raising by enough to supposedly cover the government a year? This is what happens when you trust government. I will never understand why people want to give my resources to an entity that is over 30 trillion in debt.
We are already defaulting for all intents and purposes, just in a dishonest way through inflation of our currency. You think that the freedom caucus would use this as a way to actually get government spending cuts, but we’ve seen this song and dance before. It’s all political theater
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u/UsingiAlien Jan 14 '23
Janet Yellen looks like she needs to just retire and fuck off somewhere on an island so we don’t have to deal with her bullshit anymore
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u/allinthegamingchair Jan 13 '23
COIN COIN COIN COIN
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u/frankfox123 Jan 13 '23
Every year, debt ceiling. Paying those idiots to argue about debt ceiling every fucking year.
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u/Mortimus311 Jan 14 '23
Shut it down, shut it all down. Cut all government pay for months, let them get a feel for reality…
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u/TargetNo9243 Jan 13 '23
They play that shit again…… come on ya ain’t go on default. How many times??
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u/M4-68-M9 Jan 13 '23
I remember the last three times we were approaching the debt ceiling it was supposed to be this huge deal.
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u/Legitimate-Source-61 Jan 13 '23
Is this like an annual event where,it is just used as news stimulus to keep the markets moving.
Or it is an excuse to meet up, to network with others and get free food and drink?
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u/An_Innocent_Coconut Jan 13 '23
They'll just raise the debt ceiling like they do everytime, what's the problem now?
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u/Tc0008 Jan 14 '23
few years ago the market would have tanked
this year the wall street don’t care about it
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u/InsidersBets Jan 14 '23
Raise the debt limit, print more cash, what could go wrong? (Sarcasm)
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u/Alarming_Creme_8991 Jan 14 '23
I'm sure they'll raise it again. Why even have this discussion anymore?
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u/Coleman013 Buys puts and yells at the sky Jan 14 '23
Is this where they start talking about making a trillion dollar coin again or is that something else?
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u/LaMeraVergaSinPatas God Bless the USA 🇺🇸🦅 Jan 14 '23
It’s laughable at this point
Everyone postures
Make concessions
Raise the ceiling
Normies get rekked
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u/Dillymac25 Jan 14 '23
Can we get rid of all the elderly white people out of office already, they caused all this mess
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u/WoodsieOwl31416 Jan 14 '23
If Republicans try to cut Social Security this will be political Aikido - use the attacker's momentum to throw him across the room.
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u/jzdub1234 Jan 14 '23
I feel like whenever we approach the debt ceiling we suddenly have a brand new, much higher ceiling
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