Friday, March 10, 2017

The Economy: "What Then?"

"Given the Treasury's cash burn rate of $3-4 billion per calendar day, the U.S. Treasury will have 50-75* days of cash when the debt ceiling clock starts ticking again on March 15. That’s less than a week away. And that means it will run out of cash long before any tax bill even gets out of the House Ways and Means Committee or infrastructure bill even gets tabled.
*The Economy: David Stockman, "This Sucker’s Going Down"

“Treasury Department Burning Through Cash as Debt Ceiling Approaches”

The Government could still pay it's debts and obligations for "50-75 days," when the Treasury had $190 billion. Now it has $66 billion,** and falling more every day. Come on, put the pieces together! Do the math... and not a snowflake's chance in Hell of an agreement to raise the debt ceiling. So, within 2 weeks or so from March 15, the Government is broke. What then? No pensions, no Social Security, no EBT food stamps? And what... then? What then happens to the totally interconnected world economy with $1.5 quadrillion in derivatives hanging over it's head?
** "The Mystery of the Treasury’s Disappearing Cash"
- CP
What then? Something like this...

Along with a LOT of this:
STRONG Language alert!

Please, someone, anyone, prove this conclusion wrong...

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