See, this circus just keeps going:
"UPDATE: Sen. John McCain said the GOP will take the "chained CPI" provision, that was holding up talks, off the table. Story developing. Check back for updates."
http://www.cnbc.com/id/100345480
setback?
Started by
andiron
, Dec 30 2012 03:16 PM
24 replies to this topic
#12
Sentient Being
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Posted 30 December 2012 - 05:14 PM
We live in interesting times and I'm not confident it will turn out well. There are just too many zeros on the back of that dollar amount we owe and are borrowing year after year. Back when I was a kid they fought over this stuff and it didn't matter too much. But now, just too many zeros...... Congress needs to pass a law banning the zero, then we will be ok!!!! 
In the end we retain from our studies only that which we practically apply.
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~ Johann Wolfgang Von Goethe ~
#13
MikeyG
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Posted 30 December 2012 - 05:45 PM
The currency market is expecting a deal at this point...
We are about to gap up on the es, if nothing changes in the next 15 minutes...
Probably about 2-5 points...
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#14
MikeyG
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Posted 30 December 2012 - 05:55 PM
If we do get a deal, I believe we get an initial bump higher (which I will not play), then continue lower toward 12xx, I doubt the bump lasts very long...
mdgcapital@protonmail.com
papilioinvest.com
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"One soul is worth more than the whole world."
#15
TTrader47
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Posted 30 December 2012 - 08:34 PM
If we do get a deal, I believe we get an initial bump higher (which I will not play), then continue lower toward 12xx, I doubt the bump lasts very long...
I think it may depend on what kind of deal we get. I don't even know why anyone reported on it until today. Did anyone think that congress would get something done early?
#16
MikeyG
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Posted 30 December 2012 - 08:55 PM
If we do get a deal, I believe we get an initial bump higher (which I will not play), then continue lower toward 12xx, I doubt the bump lasts very long...
I think it may depend on what kind of deal we get. I don't even know why anyone reported on it until today. Did anyone think that congress would get something done early?
You are right, it depends on the deal we get...
And the odds of no/little cuts and raising taxes on people over 250k is none to zero...
mdgcapital@protonmail.com
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"One soul is worth more than the whole world."
#17
pdx5
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I want return OF my money more than return ON my money
Posted 30 December 2012 - 09:14 PM
We live in interesting times and I'm not confident it will turn out well. There are just too many zeros on the back of that dollar amount we owe and are borrowing year after year. Back when I was a kid they fought over this stuff and it didn't matter too much. But now, just too many zeros...... Congress needs to pass a law banning the zero, then we will be ok!!!!
Those dastardly Zeroes! I blame it all on the inventor of Zero.
If we were still using the Roman numerals, this 16+twelve zeroes debt would be impossible!
There is not enough paper to write 16 Trillion in Roman numerals!
(That Zero story is buried somewhere in this long video)...
Youtube Video
"Money cannot consistently be made trading every day or every week during the year." ~ Jesse Livermore Trading Rule
#18
colion
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Posted 31 December 2012 - 12:36 AM
We live in interesting times and I'm not confident it will turn out well. There are just too many zeros on the back of that dollar amount we owe and are borrowing year after year. Back when I was a kid they fought over this stuff and it didn't matter too much. But now, just too many zeros...... Congress needs to pass a law banning the zero, then we will be ok!!!!
Those dastardly Zeroes! I blame it all on the inventor of Zero.
If we were still using the Roman numerals, this 16+twelve zeroes debt would be impossible!
There is not enough paper to write 16 Trillion in Roman numerals!
(That Zero story is buried somewhere in this long video)...
Youtube Video
Actually we are kidding ourselves with the $16T number which ignores unfunded liabilities. They bring it up to $86T or close to 30 times GDP but it has the same number of zeros.
#19
arbman
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Posted 31 December 2012 - 12:51 AM
There is only air below SPX 1375 support down to low 1300s. Probably tomorrow SPX 1375 support will get tested and just like the 1390 support earlier, it will trigger a 10-15 points bounce on some BS news back to 200 dma at 1390. The whole issue is about the earnings, but sure enough, perhaps the politicians will also make their fine contribution to the mayhem from here. The govt cannot stimulate much from here, but this is not entirely the problem.
Edited by arbman, 31 December 2012 - 12:51 AM.
#20
pdx5
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I want return OF my money more than return ON my money
Posted 31 December 2012 - 12:57 AM
Actually we are kidding ourselves with the $16T number which ignores unfunded liabilities. They bring it up to $86T or close to 30 times GDP but it has the same number of zeros.
Mort Zuckerman on unfunded liabilities of the federal government..
http://www.usnews.co...f-unfunded-debt
"Money cannot consistently be made trading every day or every week during the year." ~ Jesse Livermore Trading Rule
