problem might be that the hardpill won't matter,it's throwing in the towel,no one wants to admit that they still haven't come up with a solution.let em play chicken for awhile longer til it' s so big that all the soverigns have to agree to forgive a large part of the international market debt
i would also like to comment that both Bill Clinton and George Bush II threw this country into a wet sand and this sand is now getting wetter. Bill Clinton by maintaining his foreign policy on Iraq and resulting sanctions that cause 2 Million Iraqi deaths and this gave rise to Al Queda and Islamic fanaticism. Then Billy 'the Slick' Clinton caved into the 'mega welfare' scheme of sub prime mortgages. It looked good for a while when economy was growing and real estate prices going higher but when the slowdown occured, the housing markets started to crash and rest is for the notes. George Bush should have never gone into Iraqi War of 2003. Cost tax payers $1T and took the focus away from the real war on terror in Afghanistan. To the above add higher oil prices and commodity cycle on the upswing, and no US counter move to compete with China on prices of goods, the US treasury and Fed should have thrown in the towel long time ago. Raise the ceiling or not, tough times are in and they seem to stay for a while this time around. Middle class will become poor and poor will go back to farming and tent living. Sad and pathetic!
SP500 chart is doomed (15 year view)... We'll repeat late 2008 soon enough. What we're waiting on is gold to peak, then gold crash and synch with market crash.
everybody in US expected to at least get cheap oil out of that war. except maybe Bush who mainly expected to get his oil buddies rich. "Mission accomplished!"
I shy away from "big calls". I take care of the short term and let the long term take care of itself.
When Bush left office, oil looked cheap to me. Instead of taking steps to keep oil cheap, Obama did everything to inflate it.