wallstreet doesnt seem impressed with the "deal"

[Remodeling Maidiac]

Dow currently down 119

Do you guys think the bill will pass both houses?

 

[Google]

The markets, I believe, aren't responding and haven't really been responding at all to this supposed crisis because those 'in the know', know damn right well that this is a made up crisis.

The fact that $1.6 trillion of the nation's debt is held by the Federal Reserve, of which 90% of interest paid is returned to the Treasury, is a clear indication that this isn't as nearly as dire as both political parties have been trying to convince Americans it is.

The fact that the government can easily service the debt, social security, and military on current revenues is a clear indication that this was never, ever as dire as it was reported.

 

[LibocalypseNow]

Well it's not an impressive deal. It does nothing to address a staggering $16 Trillion Debt. A real Shit Sandwich for sure.

 

[Oldstyle]

16 trillion debt and we're going to cut 1 trillion over the next ten years? YOWSAH! That will solve the problem!

Wall Street isn't impressed by this deal because it didn't do a thing to address the deficit.

 

[Avatar4321]

Why would anyone be impressed with this crappy deal?

I mean if they were showing some sort of willingness to address the debt problem, they might react. Raising the debt ceiling adds to the debt. Promises of future cuts (which aren't even real cuts) that wont ever happen dont fix it. If they passed a Balanced Budget Amendment, then perhaps the market would react. Or if they moved away from baseline budgetting to actual budgetting IE basing the budget on actual revenues, they would get positive reaction as well.

Unfortunately, Republicans are too scared to fight for real change. and Democrats, for whatever reason, are opposing these common sense changes.

Since our nation isn't getting it's house in order, I suggest the rest of us get our own house in order. If you have any debt, make an effort to pay it off. Free yourself from bondage and ensure that you have flexibility for trying times ahead.

 

[Avatar4321]

16 trillion debt and we're going to cut 1 trillion over the next ten years? YOWSAH! That will solve the problem!

Wall Street isn't impressed by this deal because it didn't do a thing to address the deficit.

Cut 1 Trillion? Hardly. When have Democrats ever kept their promises on cutting spending?

 

[shintao]

Dow currently down 119

Do you guys think the bill will pass both houses?

Who cares about Wallstreet?

And I hope it passes, which will please socialists to no end.

 

[whitehall]

First of all it's not a done deal yet. Wall Street understands that Barry Hussein and Harry Reid are so treacherous that anything can happen. Even if it's successful the victory for the GOP is pretty much symbolic and the 3,000 page mess they call health care is about to click in and nulify the spending cuts. We are still in bad shape as long as Obama is in the white house.

 

[Wiseacre]

The market is down cuz of the truly terrible GDP numbers on friday and today's poor manufacturing numbers. I don't think anybody should be enthused about the latest deal in Washington, nothing has really been changed. Our governance is still really bad and the market knows it. I think we'll get downgraded even if this deal gets passed.

 

[LibocalypseNow]

Dow currently down 119

Do you guys think the bill will pass both houses?

Who cares about Wallstreet?

And I hope it passes, which will please socialists to no end.

Socialists/Progressives wont be as pleased as you think. They wanted big Tax Hikes. Even their own Democrats told them "Hell No!!" on that.

 

[Avatar4321]

Dow currently down 119

Do you guys think the bill will pass both houses?

Who cares about Wallstreet?

And I hope it passes, which will please socialists to no end.

People who care about the economy care about Wall Street.

Socialist, though, really dont.

 

[Claudette]

This "deal" is a bandaid and a very slim one at best.

Does anyone think any of these cuts are going to actually be made??

Hell. The projected spending far exceeds all of the cuts.

Just another bunch of BS coming from DC.

 

[BoycottTheday]

Hows this for a plan, just cut the automatic increases in the fed budget, in a few years
everything would be fine, no need to increase taxes one bit, win win for everyone.

 

[shintao]

Dow currently down 119

Do you guys think the bill will pass both houses?

Who cares about Wallstreet?

And I hope it passes, which will please socialists to no end.

Socialists/Progressives wont be as pleased as you think. They wanted big Tax Hikes. Even their own Democrats told them "Hell No!!" on that.

As I understand, if you cut a $100., you can use a $100. for another program. That correct? If so, you haven't raised taxes, just spread the wealth around to a different pot. When the military is cut there will be plenty of social money available.

 

[shintao]

Dow currently down 119

Do you guys think the bill will pass both houses?

Who cares about Wallstreet?

And I hope it passes, which will please socialists to no end.

People who care about the economy care about Wall Street.

Socialist, though, really dont.

Wallstreet does nothing for the economy except steal worker profits they need for benefits and wages and being a consumer. That doesn't sound like "people who care about the economy."

 

[Oldstyle]

Do you not understand that we have a looming mountain of unfunded entitlement debt that's about to crush us?

Here's the reality folks...unless we enact entitlement reform...we could seize ALL of the money the top 1% of Americans possess AND cut the defense budget in half and we STILL wouldn't be close to paying for the coming explosion of debt that Medicare, Social Security and Obama Care is about to saddle us with.

 

[LibocalypseNow]

Raising the Debt Limit is good for Wall Street. It increases their chances for more Taxpayer Bailouts down the road. So they will get around to celebrating very soon. Look for a boost in the Stock Market in the next couple of days. Their celebration will only be temporary though. The Economy is about to be hit hard again. A Double-Dip Recession is now very likely. The Skyrocketing Food & Gas Prices was the first indication that a Double-Dip is coming. So let the Wall Street Fat Cats enjoy their celbrations. They will be very short-lived.

 

[Oldstyle]

As for Wall Street "stealing" worker profits? You really don't have a concept of what Wall Street is...do you?

 

[waltky]

To be or not to be...

Is the economy headed for a double-dip recession?
8 Aug.`11 - Some economists think the nation may be on the brink of a double-dip recession.

The economic tea leaves are difficult to read, economists say. For every sign pointing to a slowdown, another indicates a pickup. Recent economic reports have shown weakness in everything from manufacturing to consumer spending. The government recently revised its estimate of gross domestic product growth for the first quarter down to a meager annual rate of 0.4%. In the second quarter, the GDP growth rate was just 1.3%. Other indicators, such as corporate earnings, are at their strongest levels in years.

Thursday's 513-point plunge by the Dow Jones industrial average, its largest decline since late 2008, sparked concerns that the economy is heading off a cliff, since stocks are often seen as an indicator of future growth.Signs of economic weakness, the game of chicken with the U.S. debt ceiling that played out in Washington, D.C., and the spreading debt crisis in Europe have unnerved investors. Standard & Poor's downgrading of the U.S.'s credit rating, announced late Friday, may heighten worries when markets open Monday.

But Friday's employment report, which showed that the economy added a better-than-expected 117,000 jobs in July, helped ease concerns that another recession is around the corner. In response, the Dow posted a mild gain. In keeping with the mixed signals investors are getting, other indexes, such as the Nasdaq composite , declined. Tuesday, the Federal Reserve's policy committee will meet in Washington to determine how to respond to the latest twists and turns in the economy. Few expect the central bank to announce new plans to stimulate growth, but investors will keep a keen eye out for any hints that such plans are under consideration.

There's little question that the odds that the economy is heading toward a contraction are on the rise. John Lonski, chief economist at Moody's Investors Service in New York, put the odds of a recession at 40%, up from just 20% a month ago. His reason: the steep decline in the stock market, which can hurt consumer spending. In the recovery from the 18-month recession that ended in June 2009, rising stock prices have helped make consumers feel better off, even as many saw the prices of their homes decline. Now, home prices remain in a ditch and stocks are taking a beating. "What the U.S. can ill-afford is the decline in equity prices in view of how home prices have continued to fall," says Lonski. "It will reduce household wealth."

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[BoycottTheday]

Never came out of the first one, the stats are being manipulated.