The downgrade will be next, and then we'll see what they try to do in order to prevent the automatic spending cuts.
Incidentally, the alleged Republican snit is over $30 billion a year in increased taxes.
They're claiming, of course, $300 billion, but that's over 10 years, and like all these numbers everyone is claiming the 10 year numbers to make it look better.
Well I can play that game too: The Deficit over 10 years is going to be $17,000 billion.
Care to play that game you jackasses? Go right ahead. And while you're at it you better pay attention to what MF Global did, because the rest of the clearing firms and brokerages -- all of them -- are potentially exposed in the same fashion to American debt.
This bull**** must stop.
If it doesn't then what is happening in Europe is coming here. Not in many years, not in many months, now.
"It's all about Obama's re-election" eh? That's fine - I'll see you at DOW 3,000 and a bond market revolt, and if The Fed tries to QE around it, $20/gallon gasoline.\
(PS: They're not that dumb at The Fed - if that was to happen every bank would instantly implode due to the MTM losses multiplied by their leverage, which would sink them all - we wind up in the same place attempting that and they know it.)
Where We Are, Where We're Heading (2013) - The annual 2013 Ticker
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