Still, a sober-headed look at the markets would lead to the question “when the whole nation is wandering toward default on federal debt, why would the market rally?
The problem is not a new one. I have been pointing a lot in recent weeks toward the Federal Debt to the Penny which has been stuck at the statutory debt limit for months now. Eight, roughly.
Most recently, Treasury Secretary Jacob Lew has announced that the country only has until November 3 and then it all comes tumbling down – the US will have to begin sorting how which debt instruments to default on.
This is very unhappy news, but the expectation that we should see one very violent drop in the market in this period, was based on exactly the kind of “left field” event that could begin a major decline into coming weakness which we see as possible between now and December 15th.
Another reason? We are likely to see pretty good tax selling this fall, too.
For now,. it’s a mystery how this will sort out: Conservatives will assign blame to the Spender in Chief, and while the repugnants may threaten to close down government on funding of Planned Parenthood. There’s also a good chance that the demoncorps could respond by simply choosing the freeze social security trust fund payments, or something equally sleazy.
Expect the sleaze in American politics? Sure: When comes to politics, no one has clean hands.
Today may be the closing high for a while (or they may have already been put in this week). Options expiration is over at the close and depending on weekend events, the market might come back from rehab this weekend with a much more sober outlook (and lower trading) next week.
Sure, it’s possible the party will continue but until this week I expect Lamar Odom was thinking the same thing.
Industrial Production and Capacity Utilization
Since we won’t do a special update for it, simply click here after 9:20 AM Eastern and you should find the latest update. Markets may move, depending on what it says.
Russia and Iran Take Syria
With headlines like this: Syrian army launches Aleppo offensive with Iranian support.
Nickel side bet on that one?
Power in Labels
There’s an old firehouse story I remember from my youth. As Pappy told it:
‘When a Battalion Chief makes a mistake it’s an oversight.
When a Captain make’s a mistake it’s a miscalculation.
When an Lieutenant makes a mistake, it’s a stupid blunder.
When a fireman makes a mistake, it’s an inexcusable screw-up.
Lies are scaled much he same way. We cite from today’s headlines:
Hillary Clinton’s FBI email probe is reportedly looking at “gross negligence.” And here we have comment on how it looks like president Obama is trying to save Hillary’s bacon.
Does this mean the Agency will be cracking down on those who try to “trade on its name?” And might there be others? I keep wondering about these “CIA Insider” email campaigns and who is profiteering on that stuff, for example.
How you interpret the scale of these things is important. All of them might be described with the simple word (lie) but we see how positional power works out – and the correct answer is?
Whatever is chosen, it’s usually to our detriment.
No Mo Dough
Jeb Bush seems to be running out of money. Couldn’t have happened to a nice aristocrat.
“Treating” Belief in God?
Yeah…so here’s a report that by zapping people with high-powered magnets the belief in God can be tuned out of humans. Oh, and the same treatment can change your views on immigrants, too.
What’s likely going on?
As any reader around here knows, the brain is an incredibly precise electrical system. When you move a wire through a strong magnetic field, what happens? It induces an electrical current to flow.
Strong magnetics will induce current flowing in blood so……
So what these blockheads seem to be reinventing is nothing more than a higher tech version of electroshock therapy.
The amount of people’s lack of understanding of electricity and magnetism is frankly shocking…. no, make that astounding.
New World Order In Trouble
In case you hadn’t figured it out yet, the way the New World Order is planning to come to power is by screwing up individual countries so bad that we will all embrace extra-national authority as the new savior, yada yada.
Except their timing hasn’t been so good.a Oh, sure, the open border scam in America is still being played out by globalist promoters like cartel running the District of Corruption, but in Germany revolt of the majority middle class is at hand, says this report.
Wait…are German’s smarter than ‘Mericans?
The Islamic State meantime has declared the European Caliphate and is scrawling “convert or die” graffiti is places like Sweden.
Which is why (for the especially dim-witted) we are so hardcore on our “Anyone is welcome to America as long as they are in for the language and the melting pot but not weaseling in illegally.”
See Sweden for a current example of how that works out. And ask the Obama posse how it is that non-citizens get Social Security and SSI? When those of us who paid-in are being told it’s going banko…