Congress has wasted the time it was given by the Europeans getting things "temporarily" under control. But they didn't actually get anything under control, as the Italian elections just showed.
Now, with the budget over there at risk of being abandoned, and fiscal restraint being abandoned (note: exactly what the US has been doing) the markets are recognizing exactly the risk that never in fact went away over the last couple of years.
It was hidden by lies, just as it has been hidden by lies here.
Bernanke's machinations and other games "gave" the Congress four years to do the right thing. They didn't, because that same "gift" also destroyed all market signals of urgency.
As such you have people like Krugman and others claiming that it's all ok and that we can spend with wild abandon, taking our fiscal medicine never.
They were wrong. Congress was wrong. The Republicans were wrong, the Democrats were wrong, and the Administration was wrong.
Congress is out of time; as I noted the deficit spending must stop now, irrespective of the fact that it will cause significant economic damage.
We will survive it if we do it now.
If we don't do it now, look at the header up at the top of The Market Ticker for where the markets are going, and then figure out what that does not just to your retirement account but to pensions such as Calpers as well.
Time's up; we either have serious people who will take serious actions right now or we're going to find out what a real "discontinuity" looks like.
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Going to the gun store to get whatever ammo is there......
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Trading and investing is understanding about people, emotions and corruption of government, corporations, banks and people using propaganda, lies, mathematics and bankster logic working against you.
or we're going to find out what a real "discontinuity" looks like.
We already know what it looks like... 1967 Detroit riots + Katrina hurricane aftermath + 1992 LA riots.... nationwide.
In other news, Obamabots are happy. In their little minds Europe going bust = bullish for US dollar and US treasuries... meaning interest rates are gonna go even lower and that means the US needs to borrow a whole lot more money right now while it's cheap to stimulus our way out of the recession... In their mind, the government needs to spend a boatload more money than right now... then there will be a recovery and everything will be fine...
*epic facepalm*
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"Every normal man must be tempted at times to spit upon his hands, hoist the black flag, and begin slitting throats." -- H.L. Mencken
Captbill
Posts: 842
Incept: 2008-07-22
Arizona's West Shore
Some of these folks saying it's only a matter of months now may really be on to something.
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Incredible. There's Smith and he's standing there and he's got the iceberg warning in his ****ing hand, excuse me, his hand, and he's ordering more speed. Lewis Bodine, RMS Titanic
Nuke, you're going to find you're way late on that errand. The ammunition has been bought out for a while now. I bought the last 4 boxes of 30-06 on the shelf last week.
LoL! Oh well, just trying to add to my 38K rounds I already have.....picking up some more water jugs and more canned food (now heart healthy as well).
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Trading and investing is understanding about people, emotions and corruption of government, corporations, banks and people using propaganda, lies, mathematics and bankster logic working against you.
I think the finger is on the way to pressing the Tickercon 1 button, maybe TPTB have a week or so to not do what we're pretty sure they're not going to do (that is, stop the deficit spending NOW). As for myself, I'm buying all the ammo I can even in calibers I don't need - I will be able to trade around for stuff I do need later.
There are few "sure things" in life, but one of them is that there are no serious people in our government who will take serious actions right now, or ever.
But I assure you I will love some real discontinuity. No matter how bad an end I come to, I'll be laughing at all those fat, bloated swillhog government union goobers sniveling over their lost pensions and bennies.
"It's not fair! it's not fair! I'm entitled! Wahhaaaha!"
Stonedog
Posts: 2080
Incept: 2008-05-29
New Jersey
Karl - Perhaps "Tickercon 1" should be the title of today's blogtalk... if you're doing it
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"I would characterize my professional disdain as more of a professional contempt for their [Central Banker, Banker and politician] economic and financial policies, priorities, presumptions and prescriptions." - Lauren Lyster on Capital Account for Friday June 16, 2012
Zek157
Posts: 23
Incept: 2009-03-05
Arlington Virginia
Gen,
Thank you sir for all your efforts trying to make the blind see and deaf hear what is coming down the pike. Some of us took it to heart to prepare as best we can.
Stonedog
Posts: 2080
Incept: 2008-05-29
New Jersey
1crzy - I don't know whether I should feel honored or effing terrified that he used my suggestion.
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"I would characterize my professional disdain as more of a professional contempt for their [Central Banker, Banker and politician] economic and financial policies, priorities, presumptions and prescriptions." - Lauren Lyster on Capital Account for Friday June 16, 2012
Tesla
Posts: 15541
Incept: 2008-04-03
State of Disbelief
Priorities- 1. more ammo 2. more bank withdrawals 3. grocery store 4. bend over and kiss my ass
I for one will truly "enjoy" any discontinuity, since it seems to be THE only thing that will shift people's arses off the fraud train.
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"Even a dog knows the difference between being stumbled over and being kicked." -Justice Oliver Wendell Holmes
"Neither the wisest Constitution nor the wisest laws will secure the liberty and happiness of a people whose manners are universally corrupt." -Samuel Adams
Stonedog
Posts: 2080
Incept: 2008-05-29
New Jersey
1crzy - I don't anyone here actually WANTS to experience what most of us here know is coming....
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"I would characterize my professional disdain as more of a professional contempt for their [Central Banker, Banker and politician] economic and financial policies, priorities, presumptions and prescriptions." - Lauren Lyster on Capital Account for Friday June 16, 2012
