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BTW there was a good article by Gerard Seib in the WSJ today about how the GOP leadership had planned to negotiate cuts with the Obama administration until the Tea Party hijacked the agenda and made it about Obamacare.
ALL the ''RINOS'', HATER DUPE. Do they have no real news on Fox, etc etc...BTW there was a good article by Gerard Seib in the WSJ today about how the GOP leadership had planned to negotiate cuts with the Obama administration until the Tea Party hijacked the agenda and made it about Obamacare.
I'd really like to know some of the names of these uber-powerful people are
Obama said today he was willing to do a short term spending plan to keep the government afloat until Congress could come up with a resolution.What is built into the price is the belief that they will do a deal, like they did in August 2011 and on New Years Eve re the Sequester. Every single person whom I speak or listen to believes a deal will get done, even though some of them are starting to hedge.
There are three logical options.
1) They believe a deal will get done
2) They have already incorporated a deal not getting done into the pricing
3) They don't think a deal not getting done affects valuations as much as politicians say it will.
I have a hard time believing #1. Anyone following this at all recognizes that both sides are now dug in and Obamacare is a very emotional issue. I read the Wall Street Journal every day, and there is no lack of reality in the reporting. Your contention that the basic national news is not getting to Wall Street just doesn't pass the smell test. As for the second and third, I don't know. But that prices are drifting down says to me it's a combination of the two.
If you think it's already in the price, you should be selling deep OTM puts by the truckload. I wouldn't advise it though.
You aren't really listening to me. I have opinions, but I keep saying in all our discussions clearly that I don't trade on the assumption I know more than The Street. I know that I don't. So I trade on my risk tolerance, investment time line, diversification that that sort of thing. Nobody who has told me like you do they know more than The Street has backed it up with any pattern over time.
I can't imagine Boehner saying "no, let's just go into default", unless he's completely lost his mind.
No it's not.
A default is when an interest or principal payment is missed. There is nothing inevitable about a US default.
And the debt never has to be paid off. The US Treasury has carried some sort of debt for most of our 237 year history.
Well you know I disagree.
And you have every right to disagree provided you understand youre factually wrong and Toro is absolutely correct.
The American involvement in Vietnam was insane. Even though I was only in my 20's, it was obvious to me at the time. For half of the duration of it, I assumed that the President, Pentagon, and Congress knew something I did not. I discovered, and it has been confirmed by history, that they did not, and it WAS insane. Since then, I no longer assume that the people making decisions in D. C. are going to do so based on rational thinking. I have also learned that their posturing is more importamnt to them than their constituancy. Therefore, I no longer assume that they would not allow the unthinkable to happen, which is default and a worldwide economic panic, which, once begun, would be almost impossible to stop. Another example of the D.C. leadership making terrible decisions was the Kennedy Administration and Moscow taking us to within the hours, or minutes, of nuclear annialiation, over some missles which were obsolete within about 3 years.
To those of you who feel like playing James Dean in a game of "chicken" in "Rebel Without a Cause", beware. Your congress, and especially your tea party, which does not have the economic education of a typical 7th grader, may very well not jump from the car until AFTER it has flown over the cliff.
Well you know I disagree.
And you have every right to disagree provided you understand youre factually wrong and Toro is absolutely correct.
Toro is smart, and understands my position as well as anybody. Can't say that I've ever seen you demonstrate any insights into... anything really.
The American involvement in Vietnam was insane. Even though I was only in my 20's, it was obvious to me at the time. For half of the duration of it, I assumed that the President, Pentagon, and Congress knew something I did not. I discovered, and it has been confirmed by history, that they did not, and it WAS insane. Since then, I no longer assume that the people making decisions in D. C. are going to do so based on rational thinking. I have also learned that their posturing is more importamnt to them than their constituancy. Therefore, I no longer assume that they would not allow the unthinkable to happen, which is default and a worldwide economic panic, which, once begun, would be almost impossible to stop. Another example of the D.C. leadership making terrible decisions was the Kennedy Administration and Moscow taking us to within the hours, or minutes, of nuclear annialiation, over some missles which were obsolete within about 3 years.
To those of you who feel like playing James Dean in a game of "chicken" in "Rebel Without a Cause", beware. Your congress, and especially your tea party, which does not have the economic education of a typical 7th grader, may very well not jump from the car until AFTER it has flown over the cliff.
Wait a minute. I'm going to try to understand your rant here.
In the 70's you couldn't trust the government R's or D's because they were all out for themselves and didn't give a sh*t about the people. They were "insane" and not worthy of your trust. So our best option would be a group not associated with the "insane" in place of the dems and repubs.
I
Yet today you have apparently gotten over this *ss f*cking you took in the 70's and are warning people NOT to step outside the democrat program that you just said was the crux of the problem because you don't want an outside group not going with the flow.
Deficit spending is falling at the fastest rate since 1950. Government shutdown is increasing government spending & a default will destroy the economy & tax revenue. This stupid stunt WILL ABSOLUTLY EXPLODE THE DEBT.
Federal Government: Current Expenditures (FGEXPND)
Federal Government Current Receipts (FGRECPT)
Federal Government Current Deficit (FGEXPND-FGRECPT)
If they destroy our economy through doing this. I'll for the first time in my adult life will be at war with the republican party.
These bastards will fuck over hundreds of millions of Americans.
1. According to one recent survey, "four out of five U.S. adults struggle with joblessness, near poverty or reliance on welfare for at least parts of their lives".
2. The growth rate of real disposable personal income is the lowest that it has been in decades.
3. Median household income (adjusted for inflation) has fallen by 7.8 percent since the year 2000.
4. According to the U.S. Census Bureau, the middle class is taking home a smaller share of the overall income pie than has ever been recorded before.
5. The home ownership rate in the United States is the lowest that it has been in 18 years.
6. It is more expensive to rent a home in America than ever before. In fact, median asking rent for vacant rental units just hit a brand new all-time record high.
7. According to one recent survey, 76 percent of all Americans are living paycheck to paycheck.
8. The U.S. economy actually lost 240,000 full-time jobs last month, and the number of full-time workers in the United States is now about 6 million below the old record that was set back in 2007.
9. The largest employer in the United States right now is Wal-Mart. The second largest employer in the United States right now is a temp agency (Kelly Services).
10. One out of every ten jobs in the United States is now filled through a temp agency.
11. According to the Social Security Administration, 40 percent of all workers in the United States make less than $20,000 a year.
12. The ratio of wages and salaries to GDP is near an all-time record low.
13. The U.S. economy continues to trade good paying jobs for low paying jobs. 60 percent of the jobs lost during the last recession were mid-wage jobs, but 58 percent of the jobs created since then have been low wage jobs.
14. Back in 1980, less than 30% of all jobs in the United States were low income jobs. Today, more than 40% of all jobs in the United States are low income jobs.
15. At this point, one out of every four American workers has a job that pays $10 an hour or less.
16. According to one study, between 1969 and 2009 the median wages earned by American men between the ages of 30 and 50 declined by 27 percent after you account for inflation.
17. In the year 2000, about 17 million Americans were employed in manufacturing. Today, only about 12 million Americans are employed in manufacturing.
18. The United States has lost more than 56,000 manufacturing facilities since 2001.
19. The average number of hours worked per employed person per year has fallen by about 100 since the year 2000.
20. Back in the year 2000, more than 64 percent of all working age Americans had a job. Today, only 58.7 percent of all working age Americans have a job.
21. When you total up all working age Americans that do not have a job, it comes to more than 100 million.
22. The average duration of unemployment in the United States is nearly three times as long as it was back in the year 2000.
23. The percentage of Americans that are self-employed has steadily declined over the past decade and is now at an all-time low.
24. Right now there are 20.2 million Americans that spend more than half of their incomes on housing. That represents a 46 percent increase from 2001.
25. In 1989, the debt to income ratio of the average American family was about 58 percent. Today it is up to 154 percent.
26. Total U.S. household debt grew from just 1.4 trillion dollars in 1980 to a whopping 13.7 trillion dollars in 2007. This played a huge role in the financial crisis of 2008, and the problem still has not been solved.
27. The total amount of student loan debt in the United States recently surpassed the one trillion dollar mark.
28. Total home mortgage debt in the United States is now about 5 times larger than it was just 20 years ago.
29. Back in the year 2000, the mortgage delinquency rate was about 2 percent. Today, it is nearly 10 percent.
30. Consumer debt in the United States has risen by a whopping 1700% since 1971, and 46% of all Americans carry a credit card balance from month to month.
31. In 1999, 64.1 percent of all Americans were covered by employment-based health insurance. Today, only 55.1 percent are covered by employment-based health insurance.
32. One study discovered that approximately 41 percent of all working age Americans either have medical bill problems or are currently paying off medical debt, and according to a report published in The American Journal of Medicine medical bills are a major factor in more than 60 percent of all personal bankruptcies in the United States.
33. Each year, the average American must work 107 days just to make enough money to pay local, state and federal taxes.
34. Today, approximately 46.2 million Americans are living in poverty.
35. The number of Americans living in poverty has increased by more than 15 million since the year 2000.
36. Families that have a head of household under the age of 30 have a poverty rate of 37 percent.
37. At this point, approximately 25 million American adults are living with their parents.
38. In the year 2000, there were only 17 million Americans on food stamps. Today, there are more than 47 million Americans on food stamps.
39. Back in the 1970s, about one out of every 50 Americans was on food stamps. Today, about one out of every 6.5 Americans is on food stamps.
40. Right now, the number of Americans on food stamps exceeds the entire population of the nation of Spain.
41. According to one calculation, the number of Americans on food stamps now exceeds the combined populations of Alaska, Arkansas, Connecticut, Delaware, District of Columbia, Hawaii, Idaho, Iowa, Kansas, Maine, Mississippi, Montana, Nebraska, Nevada, New Hampshire, New Mexico, North Dakota, Oklahoma, Oregon, Rhode Island, South Dakota, Utah, Vermont, West Virginia, and Wyoming.
42. At this point, more than a million public school students in the United States are homeless. This is the first time that has ever happened in our history. That number has risen by 57 percent since the 2006-2007 school year.
43. According to U.S. Census data, 57 percent of all American children live in a home that is either considered to be "poor" or "low income".
44. In the year 2000, the ratio of social welfare benefits to salaries and wages was approximately 21 percent. Today, the ratio of social welfare benefits to salaries and wages is approximately 35 percent.
And you have every right to disagree provided you understand youre factually wrong and Toro is absolutely correct.
Toro is smart, and understands my position as well as anybody. Can't say that I've ever seen you demonstrate any insights into... anything really.
You're right. Toro is smart, so smart it borders on criminal.
Like the pols running this nation, he is part of the problem. For the criminals running this show, insider trading is perfectly legal. I am sure that like Toro, they are going to profit handsomely from this shut down.
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