Waiting For Washington

A week ago we waited for the EU and now we are waiting for Washington. Needless to say, my love for politics is not growing. It seems silly that the stock market is worried about the debt ceiling, while treasuries are higher on the day and not reflecting any risk of default. Either the US will default on its debt and there will be another financial collapse or the debt ceiling will be raised. I'm betting on the latter. Have a good night.

2 comments:

Anonymous said...

it looks like fear mongering.  not raising by aug 2 isn't that big of a deal since the US govt has enough money to meet interest payments.  worst case, a bunch of social programs get autocut.  maybe defaulting isn't so bad an idea when people wake up the following day and realize the earth is still here, people didn't vaporize into thin air, stores are still open and people are still working.  i'd be more concerned if there was bubonic plague.

Anonymous said...

what's so bad about credit agencies cutting US debt to AA anyhow?  that's where it belongs.  face it, the US has an awful debt problem.  let's not lie to anyone anymore like we did with triple A subprime.