It absolutely pains me to no end, but (as the planet’s financial blog space is currently “a fire with debate”) I guess I should at least “weigh in” on the debt ceiling issue – and the consideration of a U.S default.
This most certainly IS NOT GOING TO HAPPEN!
These bozos have sunk “gazillions of dollars” into this “pseudo recovery” driving their currency into the ground. They’ve attempted to start wars , cleaned out retirement savings accounts and spent more time in bed with the “boys on wall street” than the average Ukrainian hooker living in NY.
There is not a single chance in hell they would jeopardize “what’s already hanging by a thread” over some little “tug of war” over a couple more 1’s and 0’s. Impossible.
Of all things they can ( and will ) continue to screw up – any “further knock to the credibility of the U.S” and it’s currency / ability to pay its bills IS NOT ONE OF THEM.
You see – as sad a state of affairs it is in the U.S ( domestically speaking ) the “global situation” has deteriorated far worse. The bond auction hall is empty (short of Ben and his “magic suit case”) and countries “planet wide” have been diversifying “out” of US Dollar reserves on a scale not seen before in the history of man.
The “Petro Dollar” at risk , the East growing stronger by the day…….now’s not the time for something so “meaningless” to make any larger a fool of the U.S.
Wasn’t Syria enough?
The entire planet stands to benefit from the continuation of the “American Ponzi Scheme” , so be assured – those so close to the action won’t be letting it slide any time soon.
The shutdown will be resolved within a wk and US will NOT default.
God forbid there is an actual solution.
Who cares? ..The US will kick the can once again until another debt ceiling showdown. Crisis to crisis
Quote… “The entire planet stands to benefit from the continuation of the “American Ponzi Scheme” , so be assured – those so close to the action won’t be letting it slide any time soon.”
The US needs a low dollar, hence Bernankes printing presses will continue to roll, much to the detriment of the US taxpayers well into the future.
The developing world loves and NEEDS easy money, so they aren’t complaing.
The developed world is forced to go along, which forces them to roll their printing presses also (and keep lowering interest rates) in order to stay competetive.
The only winners are the big banks really, who borrow this easy money from the FED at zero interest rates and loan it to the developing world at 2½% to as much as 4% … these banks are nothing more than a virus eating away at the earnings of future generations of tax payers.
Well said EzyFx.
Those big banks certainly sit a top the pyramid don’t they?
Well…..if / when we play our cards right – we survive – but’s tough work for sure.