S&P futures are sharply lower because people are finally starting to realize how insanely dysfunctional the US government is, in regard to operating an economy. There isn’t any need to dwell on something that I deem to be a given, so I’ll just say it: we’re going to default. Now that doesn’t ensure losses. As a matter of fact, I wouldn’t be surprised if the market went +400 on the exact day of default, simply because the market is retarded like that.
10/17 is Zerohedge day, the day when the United Steaks of American shows the world how bad its representatives are, something its citizens have known for a long, long time.
I step into tomorrow with a 25% cash position, prepared to leverage up to 150% on meaningful dip. I was going to drop a million dollars into VXX, but you jackasses ruined it for me, talked me out of making a smart decision because you’re just jealous of my grandeur.
The low probability bet is US default–because it makes zero sense. That’s exactly why it’s going to happen.
GET READY TO DEFAULT, SUCKERS.
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Default on what? So a 23bn SS payment gets delayed a week. God forbid.
If I were President, I’d make sure to pay grandma Jones her vodka money on time and withhold Oct 31st’s coupon payment. Shits and giggles. Boo.
NO VXX… you said you were done with that broken EFT.
Congress might miss the 10/17 deadline, but there won’t be a default.
The administration would try controversial measures (such as the trillion dollar platinum coin) rather than allow default.
The GOP would run squawking to the Supremes, but would have to explain to the court’s satisfaction why the budgets and revenue legislation passed by Congress don’t imply approval for the level of debt created by the budgets and legislation.
GOOD GOD. The Chinese will declare war if they don’t their interest payments!
It will be a scary ride down… account will look like shit. I’ll be scared, want to sell. That’s when the real money is made. No way the US defaults. But it will be the dip of the year.
I bought SPY puts on Friday. But perhaps not enough to balance a long portfolio. I thought the members of congress will wait at least till Monday before making their next stupid move. You have to give it to them. They work hard to remain irrelevant, and suicidal.
If panic is coming this month, tomorrow’s VXX is still cheap.
no no no, you buy TLTL
no no no, buy TLT calls in case of default. That’s the perfect Costanza play for this type of market.
The only way the socialist nightmare goes forward is to crash the tape. The pain train.
“prepared to leverage up to 150% on meaningful dip”
this
Who is not frothing at the bit to buy the dip? 0 care is here. You know the tax of all taxes. The youth are burning themselves alive to fork over 10-20% of their pathetic incomes to breast feed the poor and old. Wtf this is not a good thing.
Indeud.
If they do drive it over the cliff, the funniest part of it will be watching all the tards who think that a default means the Chinese don’t get paid. No, you dumbshits, external debt ranks higher than internal debt on the seniority ladder, which is why in every sovereign debt crisis, it’s been the internal debt – the IOUs in the SS trust fund, all that shit – that doesn’t get paid first.
So a bunch of people over 65 who voted for “less gummint intervention in ‘their’ Medicare and ‘their’ Social Security” will find themselves hoisted by their own retards in the the suicide caucus.
It’d be pure schadenfreude if it weren’t so serious. I still don’t think they do it, but if they do, it’ll be the buying opportunity of the decade… in about a month or two when all the dust has settled.
60% cash, no interest in investing, just scalping on political news that happens during trading hours, and closing everything by the end of the day lest some asshat open his yap during an after-hours press conference.
Default or not – and I’m still betting not – they’re asshats. Every last one of them.
Thanks for letting me rant.
The longer we numb the pain with government stimulus, the worse the pain will be. The sooner we hit reset, the sooner we can use the true free-market to turn this country around.
Hahaha
Wonderful parody of a republican congressman!
Well done
Parody? More like mimicry:
“I think, personally, it would bring stability to the world markets.”
— Rep. Ted Yoho (R-FL), quoted by the Washington Post, on breaching the debt ceiling.
http://politicalwire.com/archives/2013/10/06/extra_bonus_quote_of_the_day.html
The buyers strike bullshit is insane. They have pumped the tape to every pleb with a nickel all year. The commercials are hilarious. “Have you decided to buy the top? It is never too late. Call(any bloodsucker asshat firm) we can help”. LOL
I overheard so many conversations from various people stating their not worried about “X” governed payment because it’s required.
The great unearthing of people’s heads from the sand will be a scary day.