Tick, tick. August 2nd is the Debt Limit Armageddon. Or Not.

@JPB,

True. That's the reason many conservatives on a2k call Obama a Marxist and Socialist. I'm sure they "learn" this from FOX News.

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What's the reason many non-conservatives on a2k call Obama a moderate?
Could it be the falsehoods and lies spread by the liberal media?

1 Reply

@H2O MAN,

The term liberal media is a lie put about by the extreme right wing media to discredit mainstream media. It's an obvious lie, but unfortunately some people are stupid enough to fall for it.

2 Replies

@wandeljw,

It continues to trouble me how much power folks who aren't elected by the people have over the future of our well being.

Quote:

According to aides familiar with the situation, Paul Teller, the RSC’s executive director, and top DeMint aides, including Communications Director Wesley Denton, have worked closely for years in coordinating their work.

Quote:

And as the debt fight heated up, Teller, Denton and activists formed a listserv to trade information, discuss strategy and map out how they would attack Democrats and Republicans.

The list included RSC and Steering Committee aides, aides to other Republican lawmakers in both chambers and a number of conservative activists and groups, including redstate.com blogger Erick Erickson, the Cut, Cap and Balance Coalition, Heritage Action for America and other

Quote:

Walden [a person who was actually elected to serve a constituency] then demanded that Teller explain himself. But — in a move that shocked Members and staff who were present — Teller refused.

1 Reply

@JPB,

The political process is amazing. Smile

1 Reply

@wandeljw,

Not really; money has always controlled our politics. As the cost for campaigns went sky high, the only way people could run was to get "donations" from the monied. That influenced many legislation at all levels of government.

As the old saying goes, "money talks."

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@izzythepush,

izzythepush wrote:

The term liberal media is a lie put about by the extreme right wing media to discredit mainstream media. It's an obvious lie, but unfortunately some people are stupid enough to fall for it.

Interesting - if insubstantiated - observation. Evidently you don't believe the "mainstream media" have any biases. Unfortunately the evidence of it abounds. Perhaps some people are stupid enough not to see it.

1 Reply

@georgeob1,

I'm not taking any lessons from a man with very dirty hands from imperialist adventuring.

2 Replies

@izzythepush,

What the hell does that mean??

1 Reply

@georgeob1,

You know perfectly well.

1 Reply

@izzythepush,

Actually I don't. I assume this is some sort of imagined slam on your part but the connection with anything real is not evident at all.

1 Reply

@georgeob1,

http://sokheounpang.files.wordpress.com/2010/03/nick-ut-kim-phuc-vietnam-war.jpg?w=400&h=297

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At this point in the debt ceiling fiasco, I'd recommend to those who have investments to take some action to ensure they don't lose more than is necessary if they don't approve the debt ceiling.

Advise your investment counselors to sell in the event the market hits a certain point that you determine is the "bottom line" for your own comfort zone. Just remember this truism; it takes bigger gains to make up losses.

Quote:

Consumer bankruptcies on the rise: Equifax

CHICAGO (MarketWatch) -- Consumer bankruptcy petitions rose 4% in the second-quarter from first-quarter levels, the biggest increase since the second quarter of 2009, according a new study issued by Equifax Inc. Thursday. The results raise "questions" about the strength of the U.S. economic recovery, Equifax said.

You can be assured that with this current crisis, the bankruptcy petitions are going to increase. Congress doesn't care who goes bankrupt with their silly games in Washington.

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It looks like the House vote will take place at around 5:45 ET.
One nose counter (The Hill) has 21 Repubs in the No category on voting for the Boehner bill. He can't lose more than 23 - unless a Dem votes Yes.

1 Reply

@izzythepush,

Izz, that's lie that you are ignorantly perpetuating.

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@realjohnboy,

What real difference will it make since the Senate will not approve of the Boehner bill?

1 Reply

@cicerone imposter,

No real difference, Tak. I think that Boehner and the leadership of the party, knowing the bill will fail in the Senate, have orchestrated a deal allowing 20-22 House Repubs to vote No. That allows them to remain loyal to their conservative roots in their home districts. But the bill needs to pass to cover Boehner's butt and shift the blame to the Dems and the Senate when Reid brings it up there, perhaps as early as tonight.

3 Replies

@realjohnboy,

They continue to play political games while the world markets take a beating.

How dumb are they?

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@realjohnboy,

I agree, rjb.

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The Dow fell .5% today while the broader indices were slightly in positive territory. For the last 5 trading days, the Dow is down 3.5% with losses every day. Tomorrow could be an interesting day after votes in Congress Thursday and/or Friday and then the weekend.
I have a modest portfolio in the market; nothing like CI's. I don't share his concern but I can certainly appreciate that there are analyses out there that support his investment strategy.

1 Reply

Tick, tick. August 2nd is the Debt Limit Armageddon. Or Not.

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