Posted on 07/14/2011 10:00:34 AM PDT by Nachum
In the most dramatic example of someone give the teleprompter the finger on the debt target (f/k/a debt ceiling, in the pre Federal Reserve days), after earlier it was announced that Obama, so willing to continue the charade, was pushing for a Camp David meeting where the debt ceiling issue would be resolved, bunch-of-fat-old-men-locked-up-in-a-room-nobody-leaving-until-solution-is-reached style, Reuters reports that Boehner has politely refused this latest farcical denouement, and told the White House "that he sees no need to move the negotiations on debt and deficits to Camp David." In other news, it is now 7 days and counting until July 22.
From Reuters:
House of Representatives Speaker John Boehner, the top U.S. Republican, has told the White House that he sees no need to move the negotiations on debt and deficits to Camp David.
"The speaker has told the White House he sees no need to go to Camp David this weekend," Boehner spokesman Brendan Buck said on Thursday.
The White House had been weighing the idea of Camp David talks but no decision had been made and White House aides said there were "currently no plans for that."
Comrade obama’s next complaint about the negotiations will probably be about the shape of the table.
You’re an idiot.
What?! When did I ever say that the stock market will not crash if the federal debt ceiling is not raised? OF COURSE this ludicrous stock "market" WILL crash - it's only a matter of when.
Is there anyone out there who does not understand that this current market valuation is entirely the product of unsustainable federal debt games, and has exactly nothing to do with natural economic fundamentals? I fully expect a ~50% market value correction in the next year or so, which is why I have been completely out of stocks for some time now.
Anyone with money still in this farce of a ponzi market better be prepared to lose half of it.
Why travel to Camp David to call a bluff?
Guess what? No way the US loses 50% of its value.
If you’re so certain, then I wouldn’t be out of stocks, but rather invest in large out of the money puts. Or hell why not go short completely? If your’re so certain of the impending collapse of our great nation, then why the hell not make a few bucks off of it?
Oh yeah, it’s because you have major lack of understanding on the U.S. economy and investing in general.
You may think that most people hate Wall Street, but MOST people ARE invested in stocks or other U.S. securities. We cannot and will not allow the retirements of our citizens to decline 50%.
So, then it is your belief that current US stock market valuations are NOT the product of govt deficit spending? No, your earlier response indicated that you realize that stocks will collapse if the govt is no longer allowed to keep borrowing >40% of its budget. You think this is somehow sustainable, or that the end result won’t be worse the longer we continue this charade?
Bottom line is, the stock market is a sham being kept afloat by an unsustainable govt ponzi. Our nation is more than the speculative value of corporate stocks, and I have a very good understanding of how our economy works (or doesn’t work, as is the case now).
Your posts are indicative of someone with alot of money still riding in this “market”. Good luck with that.
BS BS BS! and BS!
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