The Tea Party is effectively playing Russian roulette with the bond market

Discussion in 'Politics' started by appleannie1, Jul 23, 2011.

  1. appleannie1
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    appleannie1 Member

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    The markets could be tumultuous if a plan isn't negotiated over the weekend, said Christian Cooper, head of U.S. dollar derivatives trading in New York at Jefferies & Co.

    "The markets will be under very real pressure at the open because the assumption will be there is really no resolution to this," Cooper said. "The breakdown in negotiations has crossed the line from the political posturing of the last few weeks to potentially a very real crisis.

    "The Tea Party is effectively playing Russian roulette with the bond market and they will, with certainty, lose," Cooper said. Jefferies is one of 20 primary dealers that trade with the U.S. Federal Reserve.

    Boehner's office said congressional leaders would meet at his office at 5:30 p.m. today.



    Read more: Boehner Said to Seek $3 Trillion Cuts, Signal for Markets
     
  2. kaz
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    kaz Diamond Member

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    If we can't borrow, then we still get 60% of our budget in taxes that are coming in. Why wouldn't paying borrowers be part of what we spend the 60% of the budget on if the repercussions of not doing it are so dire? The answer by the way, is Obama is Full Of Shit. We're not going to default. But if we did, think of how evil that would be. He predicts the end of the world for defaulting then does it anyway, on purpose, when he had the money to make the payments.

    So the question is, is Obama going to purposefully default when he's making end of the earth predictions about the economy...or is he a liar? You're the lib, you tell me.
     
  3. Google
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    Let me ask you this, and this is something no leftist has been able to explain: How does raising the national debt limit from $14 trillion where it currently stands to $16 trillion--actually the number is a little more than $16 trillion--how is that going to ensure the United State's AAA credit rating?

    Leftists keep bemoaning that if we don't get ourselves $2 trillion dollars deeper in debt that we're going to lose our credit rating, like it hasn't been threaten four times since Obama has taken office.

    Everyone seems to agree that the debt is a bad thing, and this administration is desperately wanting the American people to believe the answer to this debt crisis is...more debt? :lol: Right.
     

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