The day of reckoning will come when the Fed starts to tighten, according to Schiff.
Unfortunately, the compromise simply postpones the day of reckoning for all three issues until March.
But what has happened may be only a delay in the day of reckoning.
Intel deferred the day of reckoning by using other tricks to shrink circuit sizes.
Anything short of this outcome will, I believe, simply postpone the day of reckoning, not prevent it.
The longer the Fed delays the day of reckoning, the more painful that day will be.
In Indonesia, the day of reckoning has now arrived: I believe a reformed system will be in place post-Suharto.
More discipline all along would have made the day of reckoning less traumatic.
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The timing impasse may well have been a welcome relief to Olmert, delaying the day of reckoning with the settlers.
For Lilly, the day of reckoning was Oct. 25, 2011, when competitors announced a generic version of Zyprexa, an antipsychotic medication.
And now, with questioning about her in the Jones case, publication of the first Internet article, the day of reckoning had arrived.
CNN: Transcript: White House Counsel Ruff's opening statement
Lock-ups and valuation vaguaries will delay the day of reckoning that long.
Some took the possibility of the day of reckoning much more seriously.
Downside: if the recovery is still weak when the day of reckoning comes, Congress would have an incentive to forestall it again.
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Ms Bolton's ruling merely postpones the day of reckoning for 1070, which in due course may have to go to the Supreme Court.
The consulting industry continues to follow the strategy that has worked so well for it in the past: deny and delay the day of reckoning.
FORBES: Consultants Intensify Opposition to Investigations of Their Conflicts (June 1, 2005)
While other countries consider ways to live within their means, Washington is intent on devising ever more creative ways to delay the day of reckoning.
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Italy was headed for national elections in April anyway, so his abrupt not-quite-yet-resignation advances the day of reckoning by a couple of months at most.
The day of reckoning will not be a pretty sight.
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The extension bill only postpones the day of reckoning by two weeks, to 18 March, with Democrats claiming that is not enough time to reach an agreement over the budget.
BBC: Congress delays US government shutdown over budget cuts
If Washington can agree on something or at least push out the day of reckoning, bank stocks must start to discount the end to net interest margin depression, a big plus dwelling in the cards.
The danger has only been increased by the European practice of ignoring such problems as long as possible and then, when that is no longer sustainable, of trying to postpone the day of reckoning with appeasement.
And if you took the view four years ago that the quantum of debt in the system was unsustainably large, then you would argue that by propping up the banks, the day of reckoning was being postponed, not cancelled.
Whether it is by coercion by the financial markets or ahead of the inevitable day of reckoning is only marginally relevant.
"Chris has just delayed the inevitable day of reckoning for 12 months, " a spokeswoman said.
The Daily Reckoning features articles by Addison Wiggin author of Empire of Debt and Bill Bonner author of Financial Reckoning Day and The Idea of America.
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