I've lost count of how many times President Obama and Treasury Secretary Tim Geithner have said over the last three days that America might default if the debt-ceiling impasse continues. For the good of the country, let's hope the markets have forgotten as well. It's hard to see how Obama, Geithner or White House Chief of Staff Bill Daley could have had the good of the country in mind as they made the rounds of the Sunday talk shows -- spreading dire predictions about default if the debt ceiling isn't raised in the fashion that they and their Democratic allies believe appropriate. For all their apocalyptic talk, they're still demanding a budget deal filled with jobs-killing taxes, even as unemployment remains north of 9 percent. OK, a default would be a disaster. A US failure to pay bond holders could tank the Dow and upend the bond markets, where companies borrow to finance everything from plant and equipment to employee salaries. Credit cards might not work because banks won't have access to borrowed money to lend to consumers. Forget about getting a loan to buy a house or a car. In other words, the economy could come to a halt. But there's no reason for default even if there's never a debt-ceiling hike. http://www.nypost.com/p/news/opinio...omsayers_AhCKQLmjQi8e3phgFwi46O#ixzz1T7QUyLdN
Yes it's both parties faults, but all I see in this thread is nothing but "Liberal lie" and Obama bashing. Just reminding folks of Republican hypocrisy. They have been nothing but "small government" liars. They are just as big government as the Democrats.
It's like the mirror image of the day after Bin Laden was assasinated. Futures were up over 1% on Sunday night, all kinds of talk of a monster rally, and the day ended slightly down. The "obvious" usually doesn't play out.
120 Million Americans & 1.5 Billion People Want to Impeach Obama http://www.elitetrader.com/vb/showthread.php?s=&threadid=224020
exactly what i'm trying to say. just by looking at premarket volume alone i smell a trap...Obama is powerless...
High possibility the stock markets will crash tomorrow or remaining days of July 2011. Maybe Obama had a meeting with some big players of stock markets who know something we do not know. Presidents speak to giant businessman, bankers, and high profile people. Obama had meeting with the Indian CEO of the company which manufactures body scanners for airports (not sure where I read this). Body scanners in USA airports were serious issues some months back.
another fear monger. this is the same tactic paulson used when he needed the bail out money. should politicians be so concerned about the short term market anyway?