Syriasly?

 I'm Bashar Assad, the leader of Syria, and my family has been in power for 40 years.  As with all dynasties (Middle East dynasties start when you reach double digits) there are malcontents.  Currently, my malcontents are waging a 2-year old civil war against me for some "alleged" humanitarian violations.  I don't even know what that means, so I fight. 

As an added incentive, if I lose the civil war my balls will be cut off with rusty lawn shears, sautéed, and force fed to me.  This is before my torturers truly apply themselves.  Just cracking their knuckles to warm up, so to speak. 

Alas, these malcontents are armed by my most powerful enemy, America.  A Foe so mighty I would have no chance whatsoever to achieve victory against them in direct conflict.  Leaving me to my wit, my guile, and my doctorate in Western foreign policy and tactics to get me through this ordeal. 

I met with my top commanders, and the subject of using chemical weapons on defenseless civilians came up.  I agreed it was a good idea, but only if used on a Center for Humanitarian aid with Maternity ward orphans and Pet adoption (CHUMP).  Something with the word "humanitarian" in it needed striking.  Preferably with zero military value and lots of cute and defenseless inhabitants.

 
This action would violate the VERY CLEARLY MARKED  RED LINE, set by President Obama.  A line that if crossed would result in a massive assault against Syria, crippling my Air Force and cutting my combat effectiveness by 50%.   Bringing my soon-to-be sautéed balls ever so much closer to my lips.

My commanders were torn.  Eventual victory using the same conventional weapons we had been using?  Or nerve-gas the CHUMP and guarantee a steady rain of Tomahawk cruise missiles on our forces.  It was truly a vexing decision. 

 
 






The stalemate was broken when I pointed out that as my top commanders, they too would have their balls sautéed and force-fed to them as a precursor to being properly tortured to death if we lost the war.  Eureka!

We voted unanimously to gas the  Center for Humanitarian aid with Maternity ward orphans and Pet adoption.

However, I had my doubts that gassing the CHUMP alone would be enough to ensure Western Anger and Response (WAR).   We needed enough moral outrage that even the fat drunk guy on the couch watching American football wanted to help build the fire to roast our balls.  As long as it was at halftime, of course.

It was decided we needed a specific number of horrific casualties and cuter animals.  We played "Casualty darts" over pitchers of beer at lunch to come up with 1,429 casualties.  I personally hit the "14".  30% needed to be children, which came to 426.

I was still unsure we could guarantee WAR, and a quick internet search told us basset hound puppies and big-eyed kittens were considered "Too cute!" by nearly every voter in America. We promptly added 214 basset hound puppies and 371 big-eyed kittens to the death toll (round numbers appear too contrived...the American public isn't THAT stupid).    I actually had my head of security truck in more basset hound puppies to ensure moral outrage.  No shit.


The women were caring.

The children were happy.



The basset hound puppies were about to be adopted.

 She's so cute I want to cut my own balls off for killing her with chemical weapons.

Happily, we have achieved our goal.  America is seething with righteous anger and will soon attack.  My Air Force will be smashed and my forces crippled.  My family, friends and allies will all be killed.  I've even pulled out the lawn shears to speed things along.   



House Foreign Affairs Committee member Rep. Adam Kinzinger presenting the case for bombing Syria. Those are children. 
Cute, defenseless children.  Bombs would definitely help them. 

Hermann Göring: Why, of course, the people don't want war. Why would some poor slob on a farm want to risk his life in a war when the best that he can get out of it is to come back to his farm in one piece? Naturally, the common people don't want war; neither in Russia nor in England nor in America, nor for that matter in Germany. That is understood. But, after all, it is the leaders of the country who determine the policy and it is always a simple matter to drag the people along, whether it is a democracy or a fascist dictatorship or a Parliament or a Communist dictatorship.

Gilbert: There is one difference. In a democracy, the people have some say in the matter through their elected representatives, and in the United States only Congress can declare wars.

Göring: Oh, that is all well and good, but, voice or no voice, the people can always be brought to the bidding of the leaders. That is easy. All you have to do is tell them they are being attacked and denounce the pacifists for lack of patriotism and exposing the country to danger. It works the same way in any country.

• In an interview with Gilbert in Göring's jail cell during the Nuremberg War Crimes Trials (18 April 1946)

If you believe America has a "moral imperative" to intervene in Syria, you should  meet "the good guys" our government has spent $115 million supporting... 


Everyone that "didn't qualify" for mortgage assistance the last 5 years take note.  You've got to eat people's livers to get money from Uncle Sam!  Who knew?

Hey maybe those evil Syrians deserve a good bombing.  I've included a "Help Obama start WW3" link for you in that case!

http://thecable.foreignpolicy.com/posts/2013/03/13/how_the_new_60_million_of_syria_aid_is_being_spent

http://www.theblaze.com/stories/2013/03/01/flyover-state-military-says-sequester-could-mean-goodbye-to-those-airplane-demos-before-big-games/

 

Pain at the Pump? Thank Ben Bernake.

Gas Prices are at all time highs for this time of year, and nearing $4 per gallon nationwide.  Combined with the "NO NEW TAXES FOR ANYONE MAKING UNDER $250K PER YEAR" Payroll Tax hike (It wasn't technically new, it was suspended then un-suspended.  You really need to read between the lines on those campaign promises), Main street is once again taking a kick to the crotch financially to support the "recovery".  The 60% of Main Streeters that don't own stocks might be hearin' all the cheerin'  about stocks being at 5-year highs and wonder why their wallets are still empty and getting worse.  (Hint:  it's because the $3 Trillion and counting the FED has printed isn't going to you.  It's going to the Fed Banks then the stock market). 
 

 

In the age of the Internet, even stupefied "Honey Boo Boo" viewers are beginning to suspect something fishy with fuel prices and our Print-Happy Central Bank.  Perhaps anticipating this,  former Fed chairman Alan Greenspan chats with the "Money Honey" Maria Bartiromo about what really matters in our economy.  You'll be surprised to learn it's not actually the economy.  Alan was mentor to current Fed Chairman Ben Bernake, and Ben controls  America's money supply.  When asked about how the "sequester" spending cuts would affect the economy, Alan had this gem:  "The critical issue is how does it affect the stock market".  Say What?  "The stock market is the key player in economic growth now."  Really?  Why then is the real economy  limping along between zero and 2% growth while the stock market is up over 120% the last 5 years?  Hmmm.  But wait, there's more:  "The sequester will have a negative impact on the economy, but if the stock market stays up the affect will be minor."  For those who make their money holding stocks, I presume.  The coup-de-grace:  "Stock Prices are not only a LEADING indicator of economic activity, they are a major CAUSE of it".  Oy.  Ummm...Mr. Magoo Greenspan....please tell me those glasses haven't been checked in years. Tune in from the 1:50-4:00 mark for some
frighteningly myopic economic thought. 
Click on the charts to make 'em bigger.

 

Let's put aside the academic bias and see what  the charts have to say...



Dow Jones 1926-1933
Stocks are a  "Leading Indicator"?  Looks like the Dow didn't  see that little hiccup called the Great Depression coming.  That started about two months before the Dow plummeted 90%.

 

Sp-500 performance in the QE Era.

Since December of 2008, The Federal Reserve has been printing dollars to manipulate the stock market higher and preserve the status quo help unemployment.  The shaded areas indicate printing (QE) and the unshaded areas indicate not printing.  You can see what happens when the printing presses stop.  Unfortunately for Main Street, gasoline is priced in dollars, and the correlation between gas prices and stocks is fully intact. Both are artificial courtesy of the Fed printing press.

Retail Gas Price v. SP-500 2000-2012

What the FED won't admit is
the correlation between our real economy and the stock market broke dramatically in 2008.  This is what happens when you bail out corrupt banks at the expense of 99% of your people.

SP-500 v. Household Wealth

Alan said the stock market causes economic activity, so gas prices must be high because our economy is doing awesome and everyone is driving more! Only...demand seems to disagree. 






 

Total Gasoline Retail Sales by Refiners 2007-2012 down 50% from July 2007.

 Fed officials will get defensive when faced with that chart.  They'll say if prices are up but demand is down, then there must be a supply problem.   Middle East tension is a favorite.  North African pipeline disruptions.  Hurricane Sandy. The One-Armed Man. 

US Supply of finished motor gasoline 257 million barrels January 2013.  The same as January 2008.

Nope.  Supply is fine...our reserves at Cushing Oklahoma are actually overflowing with over 320 million barrels.

So supply is up, demand is down, but gas prices are at record highs?   What gives?

That, my friends, is the $3 Trillion (and counting) question.

 

Based on Alan's interview and the Fed's activity the last 5 years, our unelected leaders think printing money to manipulate stocks via QE is the road to prosperity.   Unfortunately that freshly printed cash doesn't go to me and you.  It goes to the member banks and shows up as "Reserve Balances with Federal Reserve Banks".  Sooner or later, they reason, all that free money they are giving to Wall Street will trickle down to us peasants and make everyone rich.  QE3 was announced in September of 2012.  Let's compare those bank balances and see if unemployment I mean stocks are still feeling the QE love.

 

Reserve Balances v. SP-500 since QE3 announced September 2012

Woo-hoo!  Look at that market go!  We are some BADASS Central Bankers ya'll!

Alas, that pesky gasoline is STILL priced in dollars though....

Reserve Balances v. Gas Prices since QE3 began September 2012

  Here's a Gas v. QE Timeline:

 

QE1 December 2008-March 2010

During QE1, the central bank purchased a total of 1.25 trillion dollars worth of agency MBS and agency debt, and 300 billion dollars in Treasury securities.

Reserves v. Gas Prices QE1

QE1 ends March 2010.  Gas Prices fall 13%.  

Reserve Balances v. Gas Prices between QE1 (March 2010) and QE2 (August 2010)

Unemployment falls dramatically right along with gas.  That's good for the economy right?  I thought that's what QE was for...

U6 Unemployment v. Gas Prices March 2010-August 2010

Unfortunately for Main Street USA, we are not the economy our Central Planners care about.  Wall Street was not happy about their free money spigot being turned off.  Stocks were falling after QE1 ended.  They called their boy Ben Bernake and he announces QE2 in August 2010.  Wall Street rejoiced.  Stocks soared.  So did gasoline prices.

SP-500 v. Gasoline Prices

Down on Main Street, unemployment rose right along with gas prices.  The Fed is actually INCREASING unemployment with QE.  But that's not what you hear on TV.

U6 Unemployment v. Gasoline Prices

  Between November 2010 and June 2011, the central bank purchased 600 billion dollars of longer dated treasuries.
Gas Prices soar 45%.

Reserve Balances v. Gas Prices
Note how gas prices didn't move until the fresh money hits the reserve accounts.  Wall Street can't buy oil futures until Ben gives them some more cash. 

QE2 ends, and gas prices fall 8%. 

Reserves v. Gas Prices after QE2 ends June 2011-September 2011.

Between the end of QE2 in June 2011 and QE3 in September 2012, we had "Operation Twist" in which the Fed suppressed mortgage rates by juggling existing holdings.  They did not print money during this time.  Note in the chart below that gas prices remained anchored for this stretch, albeit at elevated levels.



Reserve Balances v. Gas Prices 2008-Present

Conclusion:

There is a near 100% correlation between money creation and fuel prices.  The Fed is arguing higher stock prices are what matters in the real economy.  It certainly does, for some.  Retirees, 401k owners, pension holders, Wall Street and all the businesses they frequent are all feeling the love of a nominally higher stock market (don't price it in gold...it's not pretty).  The FED believes they can control stock prices with the printing press, which they can...for now.   Publicly the FED blames higher gas prices on everything under the sun EXCEPT the true cause...them.  The unemployment they claim to be helping is  adversely affected by QE when gas hits  $4 per gallon. The real economy hits a brick wall at those prices.  There has been little organic growth in our economy since the 2008 bailouts, only artificial "stock markety' growth.  Which stands to reason...all the money from QE is going to the very TBTF banks that caused the crash and control markets.   According to Greenspan, that's all that really matters.  QE3 began in September at $40 billion per month and QE4 in December added $45 billion per month, so we're creating $85 billion a month from now until unemployment falls "below

6%-ish".  However, QE is now actually INCREASING unemployment by driving fuel prices through the roof. 

What's good for the goose (stocks) is not always good for the gander (the real economy)

 

 

To illustrate the laser focus the Fed has on the Stockonomy, the  market went down one entire percent February 21st after some "not super easy money" language from the last FED meeting was published.   It had been up nearly every day for a month and 8% for the year since QE4 was announced.  Would you like to know how long it took Wall Street to start crying for QE5?  Try 7 hours.

 

QE5 is just around the corner

 

The next day, the market went down another whole percent!  That's TWO percent off of a 120% rally in 5 years, and two down days IN A ROW!  Cataclysmic.  Something must be done or the whole Ponzi scheme Market will crash.  Fancy a guess how long it took for the FED to respond to the bleatings of Wall Street?  Anyone?  Anyone?  Try another 7 hours. 

 

FED's Bullard: "Don't worry. We'll stay easy for a long, long time".

 

Wall Street The Market was consoled and gleefully gapped up in response today.  It's  romping to daily highs as I write.   Know what else is romping right along?

 

Just when you were about to see prices drop at the pump, in swoops the FED to screw you Mainstreet save Wall Street from a knee-shaking-panic-inducing-pee-your-pants-the-world-is-ending-and-we're-all-gonna-DIE! 2% selloff.  Whew.  Thank you, Ben.  That was close.

 

 Myself, I'm feeling pretty QuEsy when I fill up the truck. 

 

http://www.zerohedge.com/news/2013-02-15/greenspan-ignore-economy-only-stock-market-matters

 

http://english.cntv.cn/program/newsupdate/20121213/104606.shtml
qe timeline

http://www.mcoscillator.com/learning_center/weekly_chart/americans_really_are_using_less_gas/

The fix is still in

The following is relatively self-explanatory, and maybe opens the door to lawsuits from anyone who lost money in stocks getting "blindsided" by Fed announcements the last few years.  Emphasis and Editor's notes yours truly.

Fed official alleges Geithner may have alerted banks to rate cut

 (Reuters) - In the summer of 2007, as storm clouds gathered over the world's financial system, then-New York Federal Reserve President Timothy Geithner allegedly informed the Bank of America and other banks about the possibility the U.S. central bank would lower one of its critical interest rates, according to a senior Fed official.

 

Jeffrey Lacker, the head of the Richmond Fed, originally raised the allegation during a Fed conference call in August 2007.

 

"From conversations I had prior to the video conference call on August 16, 2007, I was aware of discussions among a few large banks about borrowing from their discount windows to support the asset backed commercial paper market," Lacker said in the statement. "My understanding was that (New York Fed) President Geithner had discussed a reduction in the discount rate with these banks in connection with these initiatives."

 

Geithner at the time denied that banks knew the Fed was considering cutting the discount rate. The Fed regularly releases transcripts of its policy meetings with a five-year lag.

Private disclosure of confidential, market-sensitive information by the central bank would be highly unusual, but it was not immediately clear if it would be illegal.

The central bank delivered a surprise cut in the discount rate, which governs direct loans it makes to banks, the day after the call. The action spurred a big stock market rally, with the Standard & Poor's 500 Index enjoying its best gain in 4-1/2 years.

Editor's Note:  The rally started about 30 seconds after Geithner got off the phone with JPM, Citi, BofA, Goldman Sachs, etc. on Thursday and DID NOT, repeat DID NOT tell them any surprises were coming.

Here's the headlines Thursday Night:
August 16 2007: 6:12 PM EDT

Dow makes stunning comeback

Major gauges erase most of the day's losses as investors recover from mortgage, credit fears; Dow, Nasdaq, S&P 500 bounce back after falling 10% from 2007 highs.

By Alexandra Twin, CNNMoney.com senior writer

NEW YORK (CNNMoney.com) -- Stocks staged a big comeback Thursday, erasing most of the session's losses by the close as investors worked through the panic about the mortgage and credit markets which was sparked by Countrywide Financial's latest financial problems.

The Dow Jones industrial average (Charts) fell 15 points, erasing virtually all of the day's declines, after plunging as much as 342 points earlier in the session.

Stocks have been shellacked for the last week on worries about tightening credit and the fallout from the subprime mortgage market. The declines added to losses over the last month, and by early Thursday afternoon, the three major gauges were off 10 percent from the 2007 highs hit in mid-July, the formal definition of a market correction.

Yet, after hitting those lows Thursday afternoon, stocks began to recover, with the hard-hit financial sector leading the way.

"Equity markets went on another roller-coaster ride Thursday," wrote Michael Sheldon, chief market strategist at Spencer Clarke, in a note to CNNMoney. "However, stocks erased almost all of their losses and finished the session with only minor losses as financial stocks rebounded late in the day."

Big bank stocks including Citigroup (Charts, Fortune 500), JP Morgan (Charts, Fortune 500) and Merrill Lynch (Charts, Fortune 500) all rallied back near the close after having been battered in recent days.

Editor's note:  Geithner denied leaking insider info to the largest prop traders in the market, the TBTF banks on August 16th, the very day the market staged it's "stunning" turnaround and the day BEFORE  the FED cut rates publicly.  Anyone else think it's weird that the very financial firms that were NOT getting inside information led the charge?  Strange indeed.

Here's the headline the next day, well after the party started.
August 17 2007: 4:11 PM EDT

Fed cuts discount rate

The central bank, citing tough market conditions, cuts the symbolic rate half a percentage point.

By Paul R. La Monica, CNNMoney.com editor at large

NEW YORK (CNNMoney.com) -- The Federal Reserve, reacting to concerns about the subprime lending crisis that's rocked financial markets in recent weeks, Friday cut its so-called discount rate half a percentage point, to 5.75 percent.

In it's "stunning" turnaround from the Thursday August 16th low of 12517 to the Friday August 17th high of 13382 the Dow moved up a whopping 865 points or 7%.  The entire move down until then was only 10%.

The Dow would go on to post an all-time high of 14198 in October before collapsing 65% to 6469.  At this point, the Fed announced they would start printing money with QE1.  They have printed $2.8 Trillion and counting, and are currently printing $85 billion a month as of 01/22/2013. 

As for any remaining "Investors" in this "Free" market, a word of advice.  It is not what you know that allows you to succeed in equity trading, it's who.  And if you don't know this guy, then... 

Addendum 4/11/13

Market in Confirmed Uptrend!

The DJIA, S&P 500 and the NASDAQ closed at record highs today as overall volume rose and it was definitely on the upside. Investor's Business Daily changed its Market Call to "Market in Confirmed Uptrend."

So what drove the market higher? Perhaps, it was the release of the FOMC minutes which indicated that the punch bowl was nowhere near ready to be taken off the table. Most FOMC members saw the benefits of quantitative outweighing the risks, and that was at a time when economic data were coming in better than expected, not like Friday when nonfarm payroll growth couldn't even make 100,000.

And of course, it was just a mistake that the FOMC minutes were released yesterday to about 100 people early yesterday who were politicians and lobbyists. A Fed spokesman told CNNMoney the mistake was "entirely accidental," and it was a "human error," not a technological one. The roughly 100 individuals on the list mostly included Congressional employees and employees of trade organizations. They received the minutes shortly after 2 p.m. on Tuesday.

Here is a partial list of the people receiving the inside information according to the BBG and CNN:

• HSBC RECEIVED FED MINUTES EARLY YESTERDAY
• MOST OF THE BANK EMPLOYEES APPEAR TO WORK IN GOVERNMENTAL RELATIONS (Lobbies)
• ABA, SIFMA, SENATE STAFFERS RECEIVED FED MINUTES EARLY
• FED NAMES 154 RECIPIENTS OF EARLY RELEASE OF FOMC MINUTES
• FED MINUTES SENT EARLY TO BANKS, LAW FIRMS, PRIVATE EQUITY
• FED EARLIER SAID RELEEMPLOYEES AT GOLDMAN SACHS, BARCLAYS, JP MORGAN, CITI, NOMURA, UBS, ASE WENT MAINLY TO CONGRESS, TRADE GROUPS

The Wall Street Journal also supplied a more extensive list which clearly shows that many could have profited from the information.

As the day went along, it became obvious that the FED's initial comments were not correct.

And not a single one of them brought the early release to the attention of the Federal Reserve ... I wonder how long this has been going on. Is it just me or does the situation smell funny?

http://money.cnn.com/2007/08/17/news/economy/fed_rates/index.htm

fed cuts rates

http://www.reuters.com/article/2013/01/19/us-usa-fed-geithner-idUSBRE90I04220130119

Geithner feeds banks insider info

http://money.cnn.com/2007/08/16/markets/markets_0445/

Obama v. Obama on the Debt ceiling

hy·poc·ri·sy

n. pl. hy·poc·ri·sies

1. The practice of professing beliefs, feelings, or virtues that one does not hold or possess; falseness.

2. An act or instance of such falseness.

 

Hypocrisy is the state of promoting or administering virtues, moral or religious beliefs, principles, etc., that one does not actually have and is also guilty of violating.^[1] Hypocrisy often involves the deception of others and thus can be considered a kind of lie

 



“The fact that we are here today to debate raising America’s debt limit is a sign of leadership failure. It is a sign that the U.S. government can’t pay its own bills. ... I therefore intend to oppose the effort to increase America’s debt limit.” 



— Then-Sen. Barack Obama, floor speech in the Senate, March 16, 2006

The following are quotes from Obama's 2006 speech: 

 “It is a sign that we now depend on ongoing financial assistance from foreign countries to finance our government’s reckless fiscal policies. Over the past five years, our federal debt has increased by $3.5 trillion to $8.6 trillion. That is ‘‘trillion’’ with a ‘‘T.’’ That is money that we have borrowed from the Social Security trust fund, borrowed from China and Japan, borrowed from American taxpayers.”

 “Every dollar we pay in interest is a dollar that is not going to investment in America’s priorities. Instead, interest payments are a significant tax on all Americans — a debt tax that Washington doesn’t want to talk about. If Washington were serious about honest tax relief in this country, we would see an effort to reduce our national debt by returning to responsible fiscal policies.”

“This rising debt is a hidden domestic enemy, robbing our cities and states of critical investments in infrastructure like bridges, ports and levees; robbing our families and our children of critical investments in education and health-care reform; robbing our seniors of the retirement and health security they have counted on.

“Increasing America’s debt weakens us domestically and internationally. Leadership means that ‘the buck stops here.’ Instead, Washington is shifting the burden of bad choices today onto the backs of our children and grandchildren. America has a debt problem and a failure of leadership. Americans deserve better. I therefore intend to oppose the effort to increase America’s debt limit.” 

 




Senator Obama

Senator Obama on NOT RAISING the debt limit: 

- The buck stops with the President. 

-We have a failure of leadership.

- Washington is failing us and burdening our children

-Washington is robbing our seniors of their retirement and health care, our children of their education and our cities of infrastructure.

-Rising debt is a hidden domestic enemy

-Debt is a hidden tax on all Americans

 

-National Debt January 15th 2008:
$9.2 Trillion.

Cause:  George W. Bush.



Elect me President and.....

Hear me now Bu-lieve me later!

The following are quotes from Obama's 2013 "Raise the Debt Ceiling" speech:

 

"What I will not do is to have that negotiation with a gun at the head of the American people,"   ( Republicans want Obama to cut some spending to rein in the deficit before they agree to raise the debt limit again.)

 
"They can act responsibly, and pay America's bills or they can act irresponsibly, and put America through another economic crisis," he said. "But they will not collect a ransom in exchange for not crashing the American economy."

"If congressional Republicans refuse to pay America's bills on time, Social Security checks and veterans' benefits will be delayed. We might not be able to pay our troops, or honor our contracts with small business owners. Food inspectors, air traffic controllers, specialists who track down loose nuclear material (my personal favorite!) wouldn't get their paychecks,"

"Even entertaining the idea of this happening, of the United States of America not paying its bills, is irresponsible. It's absurd."

 

President Obama on RAISING the Debt Limit:




President Obama

-The buck stops with Congress (specifically Republicans)

-We have a failure of responsibility in Congress.

-Congress is holding a gun to America's head

-Congress is holding America hostage and demanding spending cuts ransom.

-Congress will bear the responsibility for senior citizens, veterans and small business owners not getting their checks.

-Congress will be responsible for all food-born illnesses, airline disasters and nuclear blasts that occur as a result of not raising the debt limit.  Yes, sharks with frickin' lasers nuclear-frickin'-blasts.  Seriously.   

-National Debt January 15th 2012: 
$16.4 Trillion

Cause:  Congress.

 

If you're keeping score, when Obama was a Senator George W. Bush was responsible for everything, from bad breath to ugly babies.   We needed a new president.  A responsible one.

  Now that Obama is President and has been for 4 years, Congress is responsible for everything, from bad breath to sharks-with-frickin' lasers.

What Obama really thinks of the American People who "deserve better":

mo·ron
n. 1. A stupid person; a dolt.
 

 What Americans should think of Obama and the "debt debate" by now:

 
ox·y·mo·ron

A rhetorical figure in which incongruous or contradictory terms are combined, as in a deafening silence and a mournful optimist.

 

or Honest Politician and Debt Ceiling. 

 

Since 1960, Congress has raised or revised the ceiling 79 times, including 49 times under Republican presidents, according to the Treasury Department. 

 

 Republicans controlled both houses of Congress and the Presidency from 1999-2007, minus an evenly split Senate 2001-2003.  Democrats controlled both houses of Congress and the Presidency from 2007-2011 minus an evenly split Senate 2007-2009.  They will control the Presidency and the Senate through at least 2015.

"Hope.  Change.  Ha.  Haha.  Hahaha.
BuWahahahahahahaha!!"

http://www.reuters.com/article/2013/01/15/us-usa-obama-debt-idUSBRE90D0UK20130115

http://www.washingtonpost.com/blogs/fact-checker/post/annotating-obamas-2006-speech-against-boosting-the-debt-limit/2013/01/14/aa8cf8c4-5e9b-11e2-9940-6fc488f3fecd_blog.html