Great trade Nyner. Too bad most of the perma bears have left and didn't get a chance to congratulate you.
"" From what I see the dems controlled congress for 59% of the sessions since 1981. ""
Again Guts you make my point they are all raising the national debt. Didn't the republican controlled house just raise the debt limit? Why didn't they make deep cuts instead?
""I assume you missed my point. Raising the debt when debt to gdp is 30% is far different then when its 90% and your treasury debt is financed with short term notes that are quite likely to have rate hikes in three years.""
No Guts I didn't miss your point that deficits don't matter when republicans are in. My point was they're all the same. But you bring up a good point about short term vs long term debt which is the elephant in the room . We should be going as long as possible at this point maybe even a perpetual long bond. After the Napoleonic wars British debt soared to 300%. By 1834 the bulk of this was in 3% Consols (perpetual bonds). By 1860 their debt was below 100%.
What about spending cuts? I hear SS and Medicare will go broke so please lets have Ted Cruz test the waters here. How about means testing? How many receive multiple pensions? When a president leaves office he gets a pension for life and if he was governor of a state gets another pension for life and in the military pension for life, then works in private industry another pension. Lets see if people want to make these cuts.
""When Reagan expanded the debt we were at 30% d/gdp(easy to find revenue) now were at 100 and going to 125.""
You're right Guts it started with Reagan. Look at the rest of the chart and you'll see Kennedy -2% , Johnson -4% Nixon -10% Ford +14% Carter -8% and then BOOM Reagan +92% when Reagan started what GHW Bush called voodoo economics by raising spending while making a huge tax cut from 70% to 28% on top incomes. We all love tax cuts but if the debt bothers you maybe you should be calling for a tax hike. BTW GHW Bush and Clinton both had tax hikes and slowed the debt growth.
Nobody wants to pay more in taxes yet it's odd that the groups that seem the most concerned about the debt and the same people that never would endorse a tax hike.
On the positive side sequester cuts are starting to work and soon we will hear the squealing "Defense Secretary Chuck Hagel has warned that the cuts could force the military to reduce the size of the Army by 20%, GOP defense hawks, such as Sens. John McCain (R., Ariz.) and Lindsey Graham (R., S.C.), have pushed Democrats and Republicans to reverse or replace these cuts." WSJ
Business is back to normal in Washington. ZH (You Are Here) had a chart showing Obama has raised the debt 36% already, Bush 45%, Clinton 1%, G.H.W. Bush +26%, and Reagan +92%. My point is they are all the same.
""PermaBears are quiet""
PermaBears have become disheartened after a government shutdown and near default didn't cause a market crash. GOOG had a nice run since March 09 up over 200%. Less risky SSO up 500% and red hot QLD up 700% in the same time frame. Hard to be a permabear in a bull market.
Nyner you are a great trader but some of us just don't agree with your point of view which is normal. You do make some good points but these were also problems under Bush.
""PMs will be the only currency left standing..""
Good post Buzz. Rome debased their denarius from 94% silver under Nero in AD 54 to 0.02% silver under Claudius Gothicus in AD 268. Sometimes these moves take time. Where is your punching bag delta? Did the government shut down eliminate his access to the internet?
"" Maybe I should buy a home in a second world country and forget all this stuff. What say you Tex?""
It's smart to have a plan B. Be careful buying bonds from the pimco sales staff.
Cruz told republicans just what they wanted to hear, so they drank his koolaid and badly misjudged Obama and thought he would cave.
How did they expect Obama to agree to the de-funding of the Obamacare, the signature piece of legislation of his presidency, that was passed by the house and senate and deemed constitutional by the Supreme Court. And, on top of that, Obama was re-elected in 2012 after the ACA was enacted into law. Further more Rommey ran on over turning obamacare and was handily beaten.
Cruz and the tea bags won nothing but to damage the reputation of our country.
"" Let liberals get a format to compete with him and make the same, this is what liberals never understand.""
How about we watch our congressmen on cspan and use our own brains!
"" msnbc is a constant spew of negative/hate stuff. wsj conservative?""
""a few radio shows with nut bags like rush on them. serious people dont listen to this #$%$ from either side. ""
Few watch msnbc as it is entertainment like Fox. Sorry Guts, WSJ has become very conservative since Rupert Murdoch(Fox owner) bought the WSJ in 2007 and as a long time reader I have noticed the change from good journalism to right wing dogma. Rush has over 600 radio stations and gets paid $400 million for his entertainment.
""No it isn't. very creative appl. what I believe nyner really meant was that the media is just an extension of the dnc""
Yes Guts, Rupert Murdoch's Fox, CNBC, WSJ, Kudlow, Glenn Beck, Rush Limbaugh, George Will, Bill O Reilly, Peggy Noonan, Ann Coulter, G. Gordon Liddy, Michael Reagan, Oliver North, Pat Buchanan, , Michael Savage, Sean Hannity Mark Levin are really an extension of the white house and the democrats.
Who's drinking the koolaid now? Right-Wing Radio has a monopoly and spreads the myth of the "Liberal Media". Please name a Democratic talk show host with the listenership of any of the above conservatives.
The media as a whole is seriously biased the conservative way. This pro corporate conservative bias of the media is well documented which anyone who hasn't been brain washed could figure out.
My point is that they are both the same now. The republicans want to raise the debt limit just as much as the democrats but want something in return. If the GOP did what they preach they will not raise the debt limit.
Republicans have nothing left but to play chicken with a U.S. default. House GOP are lemmings with suicide jackets.
""Fox Business-by Victoria Craig-11 minutes agoShare
Talking to reporters at an event in Washington D.C. Monday, President Obama said the U.S. faces "a good chance at defaulting."
The President just said we have a good chance of defaulting, not what foreign bond holders want to hear. Bond bag holders will get a nice hair cut even if there is no default.