Tuesday, September 10, 2013
And it was brought to our attention that as fears evaporate over a potential missile attack (or worse), cowardly, impotent Investors are putting their money back into the market...
One jokingly asked if this development changed our perspective on Syria in any way and the mentor had a most honest and mutually agreed response..
'In a perfect world Syria would be invaded, but the only ones with so-called 'boots to the ground' would be those who make their living in the market... They'd be armed.. just not provided bullets...'
It evoked quite a hearty chuckle and after the din of laughter died down, no one at the table made any protestation to their defense..
And today the market is up another 100 pts and counting...
Its how the system works.. everything done to benefit the Insider.. the Big Boys..
And really its not changed a bit in 200 years.. Those who like to think of this as a modern phenomenon or attach blame to the recent Presidencies of opponent political parties simply do not understand US history...
Anyone however who thinks this piece of garbage stock market will consistently rise in the next 60 days is clueless...
In as soon as 38 days from now, October 18th, the US Treasury will run out of money... The official "window" for this to occur is anytime between Oct 18th and Nov 5th..
We know.. We know.. Everything will magically get done at the last second.. lots of pomp and bravado and lines in sand, etc.. etc.. But ultimately Congress will extend the debt ceiling..
In a perfect world, we'd default but since the Federal Reserve owns such a massive amount of our debt, we can't ever do it even if a President had the courage to... Would be like stabbing oneself..
It does however mean a nice 3-4 week period of market chaos and panic.. Every little whiff of a rumor causing 200pt drops and 250pt spikes..
Let's just say those Professional Investors who know exactly when to buy on dips will be in full economic erection.. even the female traders..
Remember, it takes 'balls' to play this game for real..
So why have we not defaulted already?
Pretty much accounting tricks where money gets shifted around to pay off creditors first
Also additional tax revenues from the payroll tax cut.. You know, the one where most Americans saved $20 a week while the wealthy saved $200 while weakening the Social Security fund doubly since employers didn't have to match into the fund what wasn't paid by the worker bees...
All this Syria nonsense has allowed Congress to totally ignore what they will be facing in another month..
They even put selecting a new Fed Chair in the back burner..
Congresspeople aren't good multi-taskers..
So what do we hope comes out from all this and other economic events in the near future...
1) We hope Merkel loses her election in Germany and whoever takes over as Chancellor stops bailing out Greece once and for all so it forces the corrupt cowardly nation to default already...
2) We assume and expect the debt ceiling to rise but hope the battle is so bitter and nerve-wracking, the Dow will take a massive tumble along the way...
3) We hope and wish Congress votes down Obama's request for military action in Syria (unless they wish to put Investors and traders on the ground)
4) We really don't care who the next Fed Chair is because their job is to help the banks get stronger and make profit over anything and anyone else so ultimately what does it matter..
Larry Summers is as corrupt, corpulent, pestilent pig as one can find in Washington so we guess we prefer it be Yellen..
But its more like watching an Olympic boxing match between combatants from North Korea and Iran.. Does anyone really have any rooting interest??
Tomorrow is 9/11
We will mourn and remember and reflect for 30 seconds then go back to our daily monotonies .. The 12th Anniversary of something just isn't as big a deal as the 10th or 20th..
But beyond never forgetting the attack or victims, may we also never forget the trillions of dollars spent, the Constitutional freedoms stripped and the thousands of lives lost in foreign entanglements since then..
All because of then..
Posted by Susquehanna at Tuesday, September 10, 2013