US Reaches Debt Ceiling Tomorrow 3/30/11

Definition of Debt Ceiling: The maximum borrowing power of a governmental entity.

Like clockwork, the Treasury placed $35 billion in 5 year bonds with the usual suspects. While the high yield was the highest since May 2010, at 2.26% there was nothing particularly notable about this auction, which saw a 2.26 Bid To Cover, continuing the trend of a gradual trendline ever higher, with Direct bidders taking down 11.2%, the highest since November, Indirects jumping to 42.4% from 34.2% last month which was the lowest in two years, and Primary Dealers eating up the balance. The bond came with a 1.5 bps tail to the When Issued which had been hugging 2.246%. What is far more eventful is that with yesterday’s $35 billion 2 Year auction, today’s $35 billion in 5 Years, and soon, tomorrow $29 billion in 7 Years, total US debt subject to limit will be $14.258 trillion: just one auction away, or $35 billion, from breaching the debt ceiling. Also, the total debt, not just that subject to the ceiling, could pass the legal threshold as early as tomorrow (pro forma for settlement).

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The Fifth Bowl ” 10 The fifth poured out his bowl on the throne of the beast, and his kingdom was plunged into darkness. People gnawed their tongues from pain and blasphemed the God of heaven because of their pains and their sores, yet they did not repent of their actions.”

Satan’s kingdom consists of all nations on earth, but his beast is the USA. Satan’s throne is located in the USA, and so the beast shares that throne by virtue of Satan having passed power to his prized beast.

Can Satan hold his present position on the war chess board, or will he be forced to abandon this beast for the European Union? Time will tell.

Can the USA overcome Yahweh’s assault on its financial stability with so much destruction slated for the country by Yahweh’s mighty right hand as He continues to make war with the beast by use of His natural order’s arsenal? But can Satan shift the tide in his beast’s favor? Satan is clever, and he is being aided by another strong ally whom has moved over to his side on the war board. Again, time will reveal the outcome.

Revelation 13:2 (Holman Christian Standard Bible) 2 The beast I saw was like a leopard, his feet were like a bear’s, and his mouth was like a lion’s mouth. The dragon gave him his power, his throne, and great authority.

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