OMFG!!! Only $12 trillion in new debt. How will the economy possibly survive? We are so screwed. These guys should be planning to cut about $15 trillion over 10 years, not $4 trillion, or $2 trillion or whatever it is down to now.
I guess Boehner's deep cuts only add something like $12T new debt over the next ten years.
Ah, stimulus! For a while there I got confused and thought they were trying to negotiate some sort of dirty a**terity package.
Unfortunately reality is pretty gloomy right now. Personally I would rather get the impending disaster over with so we can all move on with our lives. Tough for me to get excited about building a beach house when I know a tsunami is coming.
Oil and Asia down more than 1% as I type. A zero between the 1 and % would be a better start.
The only thing I know for an absolute certainty is that we are not going to default on our debt no matter what happens with the debt ceiling.
If the markets plunge, great! Everything in this country is absolutely over priced, and the sooner we realign prices for everything with reality, the better. If we shrink the size of our bloated governments in the process I will be completely ecstatic.
We'll know soon when the Asian markets open if this is going to be a problem. Little Timmy said on tv today that House deliberations had to start by tomorrow PM in order for the bill to make it through the entire process.
They have pushed us to the very edge of default and I'm disappointed and disgusted with the entire bunch. You'd think that a few of these clowns would remember what it felt like watching the market drop 1000 points. Loan paralysis...real estate drop...all of it self-inflicted...and these people look at each other and pose for the cameras.
They can certainly do what they want, but when the upside is 3% and the downside is about 20 times larger, that just doesn't make sense to me. If this blows up when markets are closed, the gap down will be so large that a tight stop won't help you. This isn't going to trade down it is going to go straight down.
I've been waiting over two years now for this to finally finish collapsing, but I suspect we are in for another couple of year wait before it finally becomes apparent that no amount of fiscal or monetary intervention is going to prevent what is and needs to happen, from happening.
Hehehe...I know you got strong honest opinions about the current global financial market condition, but I guess people's got free will to do what they want to do with their market investment. I'm sure they all have tight stop losses in them investments or gambles:) somewhere.
Not to sound really gloomy and negative opportunistic here, but I'm impatiently waiting to see when the real global financial market crash is coming down so we can buy on the cheap when blood is in the street.
The real question is why are any of you betting that they won't? The upside is maybe a couple of % and the downside is what 50%, 60%? I'm baffled that anybody is still in the market with this hanging over us. To me you should either be in cash or short.