The president will not accept a stop gap measure. He is asking both sides of the aisle what will get us the votes to pass the debt ceiling.
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(11:26: Obama says public not following the debt ceiling talks. “They shouldn’t.” “We’re paid to worry about it.”)
With all due respect, Mr. President, politicians aren’t paid to worry about it, institutional investors are paid to worry about it.
The rest of us – both retail investors and the political class alike – are merely coming along for the ride, hoping to pick up a few breadcrumbs along the way.
Who’s next in line after Italy? Spain? Then who’s next? Does the US debt ceiling matter if the Euro dies and the USD goes into hyperdrive?
Really not going to matter who comes after Italy and Spain. Either of them is large enough alone to unravel the Euro let alone if they both go tits up.
The way I see it one of two things is going to happen. Either the Greenback and/or maybe the Pound Sterling will be viewed as a safe haven or else everyone decides it’s all a house of cards and the whole world goes tilting off into massive chaos ushering in a thousand year rebuilding process to get back to where we were in 1990.
Have a good day now ya hear?