Tea Party kicks Boehner in the teeth - again

Because Boehner is an orange idiot.

[Riot]

Originally Posted by Coach Pants

Because Boehner is an orange idiot.

I'm actually starting to feel a little sorry for the guy. He is a typical career politician, wholly owned by lobbyists. But at least he knows how to make a deal, and made a couple good ones with Obama for spending cuts and revenue increases, until the crazy Tea Party squashed it.

Eric Cantor has the guy by the balls. I don't know who wrote that speech they made him read the other night to rebut Obama, but even he was embarrassed by having to say those ridiculous words in public.

The trouble is, he and his little merry band of loons are mucking up the entire government of the United States with their temper tantrums and ignorant desire to harm this nation.

Can't blame this mess on the Tea Party. They didn't create the debt and they were elected to stop these globalist puppets from putting more on the credit card.

Adding debt will only make it a bigger problem long term. I'm fairly young. Old people need to sacrifice now.

[Riot]

Originally Posted by Coach Pants

Can't blame this mess on the Tea Party. They didn't create the debt and they were elected to stop these globalist puppets from putting more on the credit card.

Adding debt will only make it a bigger problem long term. I'm fairly young. Old people need to sacrifice now.

We have bills for services we've already bought we have to pay. The Tea Party is saying we can't pay them. I do blame the Tea Party for this impasse on raising the debt ceiling. The budget and future spending is a different matter.

It's like telling your utility companies that although you've used enough electricity, gas and water last month that you now owe them $200, you've decided your debt ceiling is $100 so you won't pay for what you've already used.

I blame the RINOs and most of the Libs for being corporate whores. They need to "eat their peas"

[Riot]

This is a private blog, so you have to vet it yourself. I think the author overstates the impact on bonds.

Wed Jul 27, 2011 at 11:01 AM PDT
Two signs Wall Street is starting to believe in default

First: the price of credit default swaps (CDS) against US treasuries has spiked. And very, very unusually, the price of a one year CDS is now higher than the price of a five year CDS.

Second: the stock market AND the bond market are down today. It is fairly common for investors to rotate from one into the other depending on outlook. When both are down sharply, as is happening today, it means investors are selling everything and keeping their money as money. That is - Wall Street is starting to put their investment money under their mattress.

[ snip]

Once upon a time the default result of a financial panic was called a "flight to quality" - sell stocks and corporate bonds, buy US treasuries. The Republicans have destroyed the image of US bonds as quality. It will be years or decades before that image can be restored.

Also worth noting - US treasuries are sold at auction. No one wants to pay full price for something that is dropping in value like a rock. This will require this week's treasury auctions to sell more bonds to achieve the same level of cash for the government. In other words, the GOP has added to the deficit already, just by playing games.

If the US citizens understood how morally and intellectually bankrupt these elephant scat are, the GOP would cease to exist.

http://www.dailykos.com/story/2011/0...lt?via=siderec

[Danzig]

my concern is with all the investors who must invest in 'safe and secure' investments...most notably insurance companies. the us loses triple a, a lot of selling will have to occur. not good...i cant believe that there has been no deal made.

[lord007]

Originally Posted by Riot

This is a private blog, so you have to vet it yourself. I think the author overstates the impact on bonds.

Are you a Blog-o-maniac...