Stock Market

[azbob]

The Obama was on TV again this morning and talked about the dire circumstances we face if the debt ceiling is not raised. Among them the demise of world monetary markets, more jobs lost, the US defaults, etc.

Given this, how long before people start listening to him, and believing him, and start a run on the stock market as there is no way it can sustain at 12,500 if the debt ceiling is not raised...according to him.

Isn't he telling us that the debt ceiling must be raised or else and, at this point, the Republicans are saying no deal. If you take each at their world, start selling today (or maybe you should have started on Friday).

If the market doesn't start a freefall, doesn't it mean no one believes the President?

What do you think the DJ will be at on November 1st? I'll go with 10,200.

 

[Trampled Underfoot]

The Obama?

The debt ceiling will be raised. It's all talk at this point.

 

[Duff Miver]

If you're scared, buy some out-of-the-money put options for mid August. If the market crashes, you'll make out like a bandit. If not, you're out a few bucks.

 

[The Sponge]

The Obama?

The debt ceiling will be raised. It's all talk at this point.

What if the Republicans and THE Obama don't agree?

 

[Skulnik]

What if the Republicans and THE Obama don't agree?

Maybe he meant THE FRAUD?


:142smilie

 

[Chadman]

Heard a good explanation of what the ultimate costs of NOT raising the debt ceiling would be the other day, and it's not a pretty picture. I hope they can come to an agreement that starts to address some of these issues to bring the debt down - and both sides have to give some, I think, to be realistic.

 

[Trampled Underfoot]

What if the Republicans and THE Obama don't agree?

I would bet anything that an agreement would be reached. It's in their best interest.

The GOP look like a bunch of fools. If Obama is willing to make cuts, the GOP need to give too. Seriously, they will cave or they are done. I'm pissed about the whole thing. Obama shouldn't be cutting some of these safety net programs for the poor. It's a joke. They need to start cutting that defense department and raise taxes. Very simple.

 

[The Sponge]

I would bet anything that an agreement would be reached. It's in their best interest.

The GOP look like a bunch of fools. If Obama is willing to make cuts, the GOP need to give too. Seriously, they will cave or they are done. I'm pissed about the whole thing. Obama shouldn't be cutting some of these safety net programs for the poor. It's a joke. They need to start cutting that defense department and raise taxes. Very simple.

Might rename The Obama to The Cave. Seriously tho i haven't heard one word on cutting defense. U have to love these war hawks.

 

[azbob]

No doubt, on Aug 3rd lack of raising the ceiling will be impactful but, raising the ceiling only means more of the same deficit spending with no end in sight so I quess that is the lesser of two evils made more palatable by the fact that the impact is delayed.

Two things from the press conference today that reveal The Obama's position...1) he said, "when people like me have enough money," why not raise those taxes to the Bush levels and 2) he said that he will not make decisions that takes money away from children, seniors, educational programs etc.

First, he let his true colors come through in thinking he knows how much money is enough which is the basis for the ongoing class warfare. Second, why doesn't he substitute Pakistan, Israel and Iraq to reduce aid for instead of the usual scare tactics.

And to be fair...everything written above is also true of the GOP (except the socialism part) which is why we should probably give Ron Paul a shot.