Post New Article

Treasury Secretary Yellen warns there
will be a RECESSION if Congress doesn't
raise the debt ceiling - but rules out
minting a $1trillion coin to try and avert
the chaos

Original Article

Posted By: Ribicon, 10/5/2021 3:20:17 PM

Treasury Secretary Janet Yellen is warning Congress could plunge the nation into recession if it fails to raise the statutory debt ceiling by October 18th–and ruled out as a 'gimmick' the idea of minting a trillion dollar coin to avert a default. Yellen has previously identified the October date as the time when the nation would exhaust its extraordinary measures to avert a default on U.S. obligations, and stood by it in an interview on CNBC's 'Squawk Box.'(Snip)With no clear path to raising the debt ceiling by the deadline, Yellen dissed another potential work-around: having the Treasury mint a $1 trillion platinum coin that could then

Comments:

*, Katelyn Caralle, and Elizabeth Elkind
Look at her eyes in the video; she's clearly insane. She's startled when the reporter queries her on whether the IRS has the wherewithal to monitor each and every bank account. Reduce spending? Never! Imagine how much money this latest folly would cost, almost certainly to no benefit as the real tax cheats do so above board, or are in the underground economy and don't use banks, or mask transactions through sales of "modern art" and the like. And the trillion dollar coin makes just as much sense as printing money from thin air and dumping it into the economy (with a fat skim for the bankers), as Janet knows full well.

Post Reply

Reply 1 - Posted by: Fasteddie 10/5/2021 3:23:59 PM (No. 936191)
Hey, a trillion-dollar coin! Cool idea!! Let's give one to every person in America, and two to each "undocumented". Then everybody will be rich and all our problems are over!
15 people like this.

Reply 2 - Posted by: earlybird 10/5/2021 3:26:06 PM (No. 936195)
How can we ship Yellen and Fauci and a passel of others off the planet?
9 people like this.

Reply 3 - Posted by: itsonlyme 10/5/2021 3:34:07 PM (No. 936199)
As Treasury Secretary, one of her main goals was/is to raise the debt ceiling. Joe "Dementia" Biden, his handlers and Nancy "Witch" Pelosi/Chuck "Slime" Schumer will do the rest. The sky is falling! The sky is falling! It's DJT's fault.
6 people like this.

Reply 4 - Posted by: TLCary 10/5/2021 3:38:12 PM (No. 936203)
If we have to go several trillion dollars in debt on a regular basis to inflate our economy and avoid a recession, we are already in a depression, buried under deep denial... When the financial shell game runs short and the water reaches our necks the reality of the situation will come rushing in hard and fast. Then printing more money and borrowing more from the Chinese won't fix it. I weep for our children and I'm deeply ashamed of our childish politicians.
8 people like this.

Reply 5 - Posted by: dman 10/5/2021 3:41:17 PM (No. 936204)
No debt ceiling hike, no digital currency, return to the GOLD STANDARD and a federal balanced budget amendment. Then make the globalist libs live within our means! (Yes: OUR means, not theirs!)
8 people like this.

Reply 6 - Posted by: stablemoney 10/5/2021 3:45:57 PM (No. 936207)
Janet, cut spending and you won't have to worry about the debt ceiling. Stopping spending all this money on illegals, foreign countries and wars will not cause a recession. It will make the country stronger.
12 people like this.

Reply 7 - Posted by: Come And Take It 10/5/2021 3:55:27 PM (No. 936213)
She's nothing but a lying scrunt. Inflation is already a major issue, and pouring trillions more in clownbux into the economy will only make that worse. This whore is beyond incompetent - she is absolutely clueless about how economics works, just as most Keynesians are. Every move they have made under Xiden and Obozo has made things worse for the lower and middle class, with zero exception. ZIRP has been an absolute disaster for Americans who can only gamble upon the stock market to earn anything at all on their money, and even that is only possible because of trillions of helicopter dollars that have overinflated stocks to a ridiculous level. We are on the road to Zimbabwe, and it isn't as far off as most think.
7 people like this.

Reply 8 - Posted by: Avikingman 10/5/2021 3:56:35 PM (No. 936214)
Elections have consequences.
8 people like this.

Reply 9 - Posted by: justavoter 10/5/2021 4:03:48 PM (No. 936222)
With FJB in office we are headed to recession with or without the debt ceiling raised. How about this for an answer Yellen: NO! Tell Congress to come up with a plan to fund the government without the excessive spending.
5 people like this.

Reply 10 - Posted by: GoodDeal 10/5/2021 4:09:15 PM (No. 936227)
Welcome to the United States of Weimar.
6 people like this.

Reply 11 - Posted by: Proud Texan 10/5/2021 4:10:10 PM (No. 936228)
I like earlybird's idea. Ship them off to another planet. Elon Musk's Starship to Mars is still experimental, but then so is the covid vaccine. Somebody needs to be the guinea pig, and all of us won't fit. Sounds like a job for the "elite".
3 people like this.

Reply 12 - Posted by: DVC 10/5/2021 4:53:00 PM (No. 936253)
I think Yellen is even less reliable than Dr. Fraud.
2 people like this.

Reply 13 - Posted by: watashiyo 10/5/2021 5:09:24 PM (No. 936265)
Let there be a RECESSION!
3 people like this.

Reply 14 - Posted by: Birddog 10/5/2021 5:18:50 PM (No. 936281)
Sooo...the IRS gets $79 BILLION in new funding, (is that per year?) Over and above their current $12.5 Billion budget. And they expect to use that to micromanage every dollar every American makes/spends from which they will gather in $463Billion over the next decade...$46.3 Billion per year. She/they claim it would gather in $7Trillion over ten years(primarily through greater number of audits of the very wealthy and Corporations) BUT CBO already scored a similar proposal in 2020 and stated that it would only recoup between $61-113Billion over ten years. IF she/they think that people are not paying their share, rather than go after the mega rich and corporation that it costs a LOT to audit, and who have very adept Tax folks and Attorneys ready prepped to defend themselves, resulting in a very LOW return of effort/investment. The Really should 1st go after the millions of people that claim less income than 3rd party documents W2's/1099's show they received...only 24% of those even get questioned about it, even people claiming more than a dozen dependents, some times as many as 40 or more don't get a red flag. Dozens of refunds going to a single address don't get a red flag and a look see. $46Million in refunds to a single address in Atlanta..$86Million in refunds to a mere ten addresses...claims for from 1,800 individuals to 23,000 individuals at each location. And ALL of them ITIN, Tax Id's for non-citizens. 4 of the top ten are in Atlanta, 3 in calif. others in AZ and NC. Have the IRS check remittances to other Nations...cross reference those to US Tax returns if they truly want to recapture what is being "Legally" owed but not paid. She also wants to move ALL of americans savings accounts to the Fed...where if(WHEN) Dems decide to impose a wealth tax, or just need(want) additional funds they can simply TAKE it, give a "Haircut" the way some european National Banks have.
4 people like this.

Reply 15 - Posted by: Strike3 10/5/2021 6:12:42 PM (No. 936332)
The scare campaign begins. A good recession could bring Joe's ratings down to 25-30 percent, no?
3 people like this.

Reply 16 - Posted by: mifla 10/6/2021 4:46:18 AM (No. 936602)
The other alternative is financial collapse due to reckless spending. Like having to choose between poison and hanging.
0 people like this.

Below, you will find ...
Most Recent Articles posted by "Ribicon"
and
Most Active Articles (last 48 hours)
Most Recent Articles posted by Ribicon"
U.S. adults increasingly accept Marxist
views, poll shows
8 replies
Posted by Ribicon 10/6/2021 3:13:44 PM Post Reply
A new survey shows that U.S. adults, especially millennials, increasingly endorse Marxist views such as the rejection of private property and traditional morality, even though they don’t adopt Marxism as a label. The Cultural Research Center (CRC) at Arizona Christian University, which published the results last week, found in a representative poll of 2,000 U.S. adults that one-third or more endorsed a dozen elements of Marxist theory on issues ranging from racism to God. Pollster George Barna, CRC founder and research director, said the results indicate that 10% of Americans have internalized Marxist ideology and now draw from it in their daily decisions,
Accidental leak reveals US government
has secretly hit Google with 'keyword
warrants' to identify ANYONE searching
certain names, addresses, and phone numbers
17 replies
Posted by Ribicon 10/6/2021 12:15:26 PM Post Reply
The U.S. government is using 'keyword warrants' to uncover the identity of anyone who searches Google and other search engines for certain search terms that may be related to a crime, according to a new report. The controversial practice, which is already drawing civil liberties concerns about sweeping government overreach, was revealed on Tuesday in 'accidentally unsealed' court documents obtained by Forbes. Keyword warrants—which have been secretly employed for at least several years—are drawing backlash as many argue they violate an individual's constitutional protections against unreasonable search and seizure. 'Trawling through Google's search history database enables police to identify people merely based on what they might have been thinking
‘Continuous vetting’: Pentagon to
keep closer eye on troops, civilians, contractors
11 replies
Posted by Ribicon 10/6/2021 12:15:21 PM Post Reply
The Defense Department this week officially launched its new and expanded “continuous vetting” program for all troops, civilian employees and defense contractors, replacing the traditional system of periodic background checks with more in-depth monitoring that relies heavily on technology to flag suspicious behavior. Pentagon officials said at a news conference Tuesday that they’ll also consider eventually monitoring social media activity for all 3.6 million people directly employed by the Defense Department or working as contractors. For now, however, the automated system will search for illegal or other suspicious activity within the military workforce and flag it for review. The revamped vetting system could ultimately give more fuel to critics
US records highest increase in nation's
homicide rate in modern history, CDC says
15 replies
Posted by Ribicon 10/6/2021 11:02:17 AM Post Reply
The United States has just recorded its highest increase in rates of homicide in modern history, according to the US Centers for Disease Control and Prevention. Provisional data from the CDC's National Center for Health Statistics, released early Wednesday, suggest the homicide rate for the United States rose 30% between 2019 and 2020. It is the highest increase recorded in modern history—and confirms through public health data a rise in homicides that so far had been identified only through crime statistics.(Snip)"It is the largest increase in 100 years," Robert Anderson, chief of the mortality statistics branch at NCHS, said. "The only larger increase since we've been recording
VP Harris lacking role in negotiations,
feeds lingering concerns
17 replies
Posted by Ribicon 10/6/2021 10:38:03 AM Post Reply
Vice President Kamala Harris has been mostly missing in action during the spending talks on Capitol Hill—renewing questions over her role in the Biden White House and her overall effectiveness as the commander-in-chief’s sidekick. There was just one event on Ms. Harris’ public calendar on Tuesday—a virtual event with the Democratic National Committee in which she tried to ramp up enthusiasm for next year’s midterm elections. “We all know what’s at stake,” Ms. Harris said, describing new election and abortion legislation in Texas as “anti-voter laws” and “anti-woman laws.”(Snip)On Monday, Ms. Harris visited a Cuban cafe in Washington, and over the weekend
Wuhan scientists and US researchers planned
to create a new coronavirus in 2018: Consortium
led by Brit Peter Daszak asked DARPA to
fund research at lab in city where Covid
pandemic began
10 replies
Posted by Ribicon 10/5/2021 10:57:48 PM Post Reply
US and Chinese scientists were planning to create a new coronavirus before the pandemic erupted, leaked proposals show. Last month, a grant application submitted to the US Defense Advanced Research Projects Agency (Darpa) revealed that an international team of scientists had planned to mix genetic data of similar strains to create a new virus. The grant application was made in 2018 and leaked to Drastic, the pandemic origins analysis group.(Snip)This would result in a virus which had no clear ancestor in nature, a World Health Organization (WHO) expert told The Telegraph. The expert, who asked the paper not to publish their name, said that, if such a method
Democratic vaccine crackdown gives GOP
opening with mandate-wary Black voters
3 replies
Posted by Ribicon 10/5/2021 10:43:46 PM Post Reply
The Democratic embrace of vaccine mandates is running into resistance from some prominent Black athletes and activists, an unforeseen political side effect with implications for the party’s grip on a crucial voting bloc ahead of the 2022 midterm elections. A bevy of NBA stars has spoken out against the COVID-19 vaccination requirements. Golden State Warriors veteran Draymond Green defended vaccine-hesitant teammate Andrew Wiggins by arguing that mandating the shot “goes against everything that America stands for.” “I think you have to honor people’s feelings and their own personal beliefs, and I think that’s been lost when it comes to vaccinated and unvaccinated,” Mr. Green said Friday
Washington woman in late 30s dies from
J&J vaccine blood-clotting syndrome
6 replies
Posted by Ribicon 10/5/2021 6:10:07 PM Post Reply
Seattle—Washington state health authorities say a woman in her late 30s has died from a rare blood-clotting syndrome after receiving the Johnson & Johnson COVID-19 vaccine. Public Health Seattle & King County said Tuesday the woman was the fourth person in the United States to die due to blood clotting issues following the J&J vaccine. Three deaths were reported before federal authorities temporarily halted J&J vaccinations in April. A spokesperson for the Centers for Disease Control and Prevention says the agency is aware of, and is looking into, additional reported clot deaths since then, including the one in Washington state. The King County woman received her shot
Soros bankrolling far-left groups harassing
Manchin, Sinema over opposition to $3.5T
spending bill
8 replies
Posted by Ribicon 10/5/2021 5:24:30 PM Post Reply
George Soros, a left-wing Hungarian billionaire, is bankrolling groups exerting pressure and intimidation campaigns against the two moderate Democratic senators standing in the way of President Biden‘s $3.5 trillion expansion of the federal safety net. Mr. Soros, a political megadonor who has contributed hundreds of millions of dollars to progressive causes and candidates, is the lead financial backer of several advocacy groups that have harassed Democratic Sens. Joe Manchin III of West Virginia and Kyrsten Sinema of Arizona in recent days. One of the groups, Living United for Change in Arizona (LUCHA), came under fire this weekend for accosting Ms. Sinema while she was teaching a class
‘This is what a domestic terrorist looks
like?’ Parents slam FBI in CRT-foe crackdown
6 replies
Posted by Ribicon 10/5/2021 5:11:56 PM Post Reply
Politicians and parents are joining together to slam the Department of Justice’s recent decision to bring in the FBI to investigate what it called a spike in “harassment, intimidation, and threats of violence” against school teachers, administrations, board members and other staff. In recent months, dozens of parents have taken a stand in school board meetings against the teaching of Critical Race Theory in classrooms and to protest mask mandates, causing some to wonder what the FBI and DOJ are actually investigating.(Snip)“Dear @TheJusticeDept Merrick Garland and @FBI Director Christopher Wray, This is what a domestic terrorist looks like? You are criminalizing parenting, and you owe the people of America
Treasury Secretary Yellen warns there
will be a RECESSION if Congress doesn't
raise the debt ceiling - but rules out
minting a $1trillion coin to try and avert
the chaos
16 replies
Posted by Ribicon 10/5/2021 3:20:17 PM Post Reply
Treasury Secretary Janet Yellen is warning Congress could plunge the nation into recession if it fails to raise the statutory debt ceiling by October 18th–and ruled out as a 'gimmick' the idea of minting a trillion dollar coin to avert a default. Yellen has previously identified the October date as the time when the nation would exhaust its extraordinary measures to avert a default on U.S. obligations, and stood by it in an interview on CNBC's 'Squawk Box.'(Snip)With no clear path to raising the debt ceiling by the deadline, Yellen dissed another potential work-around: having the Treasury mint a $1 trillion platinum coin that could then
JPMorgan will no longer hire unvaccinated
employees for client-facing roles
7 replies
Posted by Ribicon 10/5/2021 2:28:53 PM Post Reply
JPMorgan is clamping down on hires of new employees who don’t get the COVID vaccine, even as it imposes limits on business travel for unvaccinated workers and forces them to share the costs of testing. The mega-bank headed by Jamie Dimon said in a memo late Monday that unvaccinated individuals in client-facing roles will keep their jobs but moving forward, the bank will only hire fully vaccinated individuals for those positions.(Snip)The bank also announced unvaccinated employees will pay more in payroll contributions in 2022—as a way to offset the cost associated with the increased risk of contracting coronavirus and the cost of additional testing.
Most Active Articles (last 48 hours)
Hollywood union workers vote to authorise strike 48 replies
Posted by Dreadnought 10/5/2021 2:30:02 AM Post Reply
The union that represents some of Hollywood's most important workers has voted to approve a strike in a move that could shut down nearly all US film and television production. Members of the International Alliance of Theatrical and Stage Employees (IATSE), which covers camera crews, prop masters, hairdressers and other craft workers say they are being worked to death with gruelling hours and no guaranteed rest or meal breaks. Members are demanding better work conditions, as well as fairer pay from streaming services to cover their share of labour. Over 50,000 workers voted overwhelmingly - 98% in favour to 2% against
China warns World War Three could be triggered
'at any time' after it sent dozens of
warplanes into Taiwan's airspace as Big
Lizzie joins TWO US carriers and Japanese
warships in huge Philippine sea exercise
45 replies
Posted by Imright 10/5/2021 11:02:44 PM Post Reply
China warned that World War Three could be triggered 'at any time' on Tuesday after it sent dozens of warplanes into Taiwan's airspace.An article in the state-backed Global Times newspaper said that 'collusion' between the US and Taiwan was so 'audacious' that the situation 'has almost lost any room for manoeuvre, teetering on the edge of a face-off.'It claimed that the people of China were ready to back all-out war with the US, which backs Taiwan, warning the island nation against 'playing with fire'. Taiwan, a democracy which considers itself a sovereign state, urged China and president Xi Jinping to put a halt to 'proactive actions' after
CDC recommends "virtual Thanksgiving"
this year
44 replies
Posted by mc squared 10/5/2021 11:44:40 AM Post Reply
After the patron saint of restricting Americans’ freedoms suggested we might need to cancel Christmas, I suppose this shouldn’t come as all that much of a surprise. The CDC is announcing today that they are recommending that Americans celebrate Thanksgiving virtually again this year. You probably don’t need me to tell you that this is one turkey of an idea that Joe Biden isn’t going to be able to make fly. But the new guidelines have all sorts of unpleasant nuggets built into them for any of you dangerous people who still insist on carving up the turkey with your family. Oh, and you have to scroll
Moving on Up: LA and Seattle Homeless
Will Be Relocated to Taxpayer-Funded Luxury Apartments
43 replies
Posted by ladydawgfan 10/6/2021 1:29:02 AM Post Reply
Three glistening new buildings in downtown Seattle with 165 studio apartments — originally to be rented at market rates — will instead house the homeless. The Low Income Housing Institute (LIHI) is buying the buildings with taxpayer dollars for about $50 million, with federal COVID-19 relief funds splitting the cost equally. Seattle City Hall is contributing about $25 million, while also using “American Rescue Plan Act” funds. A large portion comes from Washington State’s Department of Commerce. Left-wing Seattle Mayor Jenny Durkan, so unpopular she can’t run for re-election, claims the deals will house people quickly and cheaply, compared to the time and cost required to develop similar projects from scratch.
AG Merrick Garland's Daughter Married
to Co-Founder of Company Selling Critical
Race Theory Resource Material to School Districts
38 replies
Posted by Beardo 10/5/2021 11:42:14 PM Post Reply
Well, well, well… This is interesting. U.S. Attorney General Merrick Garland recently instructed the FBI to begin investigating parents who confront school board administrators over Critical Race Theory indoctrination material. The U.S. Department of Justice issued a memorandum to the FBI instructing them to initiate investigations of any parent attending a local school board meeting who might be viewed as confrontational, intimidating or harassing.
‘F*** Biden’ signs outside Michigan
presidential visit were embarrassing,
says congresswoman
37 replies
Posted by NancyD 10/6/2021 7:13:13 AM Post Reply
HOWELL, MI -- President Joe Biden saw a clear message from the window of his motorcade while driving to an event in Howell on Tuesday. “F*** Biden” was visible on flags and signs carried by a crowd of protesters gathered along M-59 in Livingston County, a deeply conservative part of the state. U.S. Rep. Elissa Slotkin, D-Holly, said she was “embarrassed” by the profane message as she sat next to the president, who pointed out the signs as they passed by the rally.
Treasury Secretary Yellen BACKS the IRS
reporting $600 transactions because it
will 'fill the tax $7T gap' and says Biden's
Soviet-born, anti-crypto nominee for Comptroller
of the Currency 'deserves a fair hearing'
37 replies
Posted by Ribicon 10/5/2021 1:11:22 PM Post Reply
Treasury Secretary Janet Yellen defended Tuesday the new IRS rule requiring all transactions above $600 to be reported as she backed Joe Biden's controversial anti-private banking, Soviet-born pick to lead her department's Office of the Comptroller of the Currency (OCC). 'Collection of information is routine,' Yellen assured when asked by CNBC's Squawk Box co-host Andrew Ross Sorkin about the new information collection that some Americans claim is an invasion of privacy.(Snip)She added: 'It's a simple way for the IRS to get a sense where that might be–it's just a few pieces of information about people's bank accounts.'
Biden is Brewing a National Crisis 34 replies
Posted by Magnante 10/6/2021 3:54:44 AM Post Reply
Have we ever had a president who in mere months made so many dumb, intemperate decisions, thereby precipitating major crises? You’d think that the Afghanistan and border fiascos would suffice for one four-year term. But the smart money is that we haven’t seen the last of Biden-manufactured crises. Biden is a nightmare version of Pig-Pen of the Peanuts comic strip.. A perpetual cloud of incompetence, conceits, corruption, and shabby political motives swirls around him. (snip) As Niall Stanage of the Hill put it, “President Biden’s biggest vulnerability isn’t any single issue. It’s the risk that he could be seen as losing control of events.”
Biden tells GOP to 'get out of the way'
on debt limit
34 replies
Posted by NorthernDog 10/5/2021 11:27:19 AM Post Reply
WASHINGTON — President Joe Biden on Monday urged Republican senators to “get out of the way” and let Democrats suspend the nation’s debt limit, hoping to keep the U.S. government from bumping dangerously close to a credit default as Senate Republican Leader Mitch McConnell refuses to lend his party’s help. Biden’s criticism came with Congress facing an Oct 18 deadline to allow for more borrowing to keep the government operating after having accrued a total public debt of $28.4 trillion. The House has passed a measure to suspend the debt limit, but McConnell is forcing Senate Democrats into a cumbersome
AG Merrick Garland Orders FBI to Combat
‘Threats of Violence’ Against Public
School Officials
33 replies
Posted by Imright 10/5/2021 1:21:30 AM Post Reply
Days after a national organization representing school board officials lamented to the Biden administration about “hate groups” intimidating education officials, Attorney General Merrick Garland has directed the FBI to combat “threats of violence” against administrators.Without citing specific cases, in a memorandum issued on Monday, Merrick Garland expressed concern about a “disturbing spike in harassment, intimidation, and threats of violence against school administrators, board members, teachers, and staff who participate in the vital work of running our nation’s public schools.”“While spirited debate about policy matters is protected under our Constitution, that protection does not extend to threats of violence or efforts to intimidate individuals
Sen. Sinema harassed again during and
after flight to DC
28 replies
Posted by Imright 10/5/2021 11:19:58 AM Post Reply
Sen. Kyrsten Sinema was confronted by another group of activists on Monday during her trip back to Washington, DC, one day after she was accosted while teaching a class at Arizona State University. During and after her flight to Reagan National Airport, the Arizona Democrat was filmed by protesters who pressed her on her resistance to voting for the $3.5 trillion budget reconciliation bill. Video footage uploaded to Twitter showed Sinema walking through the airport and talking on her cellphone as several protesters gathered around her, filming on their phones.
Decriminalizing gang bangers, Soros prosecutor
Kim Foxx declines to charge five arrested
in fatal gang shootout, citing ‘mutual combatants’
26 replies
Posted by Magnante 10/5/2021 8:56:15 AM Post Reply
Chicago now is like Dodge City before Marshal Dillon arrived: a fatal shootout on its streets is no crime because both sides were shooting. (snip) An escalating number of shootouts is the inescapable implication of the decision of the Cook County State’s Attorney’s Office to release all five suspects arrested in a fatal shootout between rival gangs in the city’s Southside Austin neighborhood (snip) “Mutual combatants was cited as the reason for the rejection.” Mutual combat is a legal term used to define a fight or struggle that two parties willingly engage in.
Post New Article