No Debt Ceiling Deal: Bullish?

Quote from Eight:

Obama says that if we don't lift the debt ceiling then disaster will ensue... I think he's talking about disaster for the Democratic party though. They need ever more money to keep buying those ghetto votes...
More...

+1
 
Your idea is ridiculous. As you said, without debt ceiling increase, government will have to shut down, payments to various programs and vendors will not be made, government workers won't be getting their checks. In other words, there will be quite a bit of shock to already fragile economy. There will be another recession. Tax receipts will again plummet. There will again be waves of layoffs. Stock and commodity markets will collapse. Municipalities will start defaulting in droves. Loan delinquency will spike again across the board. Bank solvency will be questioned again.

Then serviceability of US Treasuries will be questioned, and this will blow apart the world economy.
 
Quote from psrexp:
... without debt ceiling increase, government will have to shut down.
More...

Super-bullish. The government got us into this mess to begin with.
 
Quote from psrexp:

Your idea is ridiculous. As you said, without debt ceiling increase, government will have to shut down, payments to various programs and vendors will not be made, government workers won't be getting their checks. In other words, there will be quite a bit of shock to already fragile economy. There will be another recession. Tax receipts will again plummet. There will again be waves of layoffs. Stock and commodity markets will collapse. Municipalities will start defaulting in droves. Loan delinquency will spike again across the board. Bank solvency will be questioned again.

Then serviceability of US Treasuries will be questioned, and this will blow apart the world economy.
More...

Yes, that is what happens during insolvency.

Nothing is too big to fail. The world needs a lesson in basic economics and that lesson just may be delivered by Barrack Obama and Harry Reid, Chucky Schumer, Dicky Durbin and Nancy Pelosi. Probably not the way they would wish to be remembered but there it is.

The House bill won't pass the Senate, ok fine. The Senate bill will not pass the House either. If the President attempts some dictatorial nonsense under the guise of the 14th amendment, well, things may go a bit asymptotic at that point.

People should be preparing for secondary vocations, the kind that persist during a deep depression. Brokers, traders, bankers and other hucksters should be training to cook, construct, repair or maintain. A good bartender is worth his/her weight in gold during a depression. So is a good auto mechanic. Many will return to agriculture. Sounds laughable?

Maybe, maybe not. :)
 
JULY 31, 2011 AT 1PM DEBT CEILING WILL BE RAISED BY $2+ TRILLION

DONE DEAL!!!!


MARKETS WILL ERASE ALL LOSSES FROM LAST WEEK IN ONE SINGLE DAY DAY! GET READY FOR A 3%+ RALLY!
 
You must log in or register to reply here.
Back
Top