An “Independent” Congress
By Barry Ritholtz - October 11th, 2009, 7:30AM
Source: Clay Bennett, Chattanooga Times Free Press
Macro Notes
We don’t want your help because maybe we don’t need itPeter Boockvar
While yesterday's US stock market close was poor, Asia and Europe didn't follow today as debt in Greece, Spain, Portugal, etc... rallied, their CDS narrowed and stocks bounced. The Greek finance minister said January tax revenues came in above expectations and that spending was below target for the month and said "that means the deficit reduction for January is well within what we have promised." The euro is rising in turn. Also helping is the story that Trichet is headed to the European Union leaders summit a day early in order to address Greece's problems even as the Greek finance...
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October 11th, 2009 at 12:37 pm
Funny.
And I read the classic line regarding Obama’s prize today. This is too good:
All this guy has done is give a few speeches promising almost everything to everyone.
Backed up nothing with actions yet, and is unlikely to.
The Nobel Speech Prize.
October 11th, 2009 at 12:47 pm
Like I always said about the television show Baywatch: Out of the mouth of babes…
October 11th, 2009 at 1:53 pm
Our politicians are so craven that America is now basically a crisis driven country. It takes unprecedented failure to even get the politicians to think about reforming policy that is bad on its face. And then they still may not do anything. So we lurch from bubble to bubble, crisis to crisis, hoping that we won’t ever run into a crisis that buries us before we have time to respond. This is no way to run a country. Our only hope is that the Europeans, Chinese, etc. basically force America to stop acting like a spoiled teenage girl with Daddy’s credit card.
October 11th, 2009 at 2:39 pm
Though Mauldin doesn’t think so I think that day of reckoning is closer than American leaders think. Already the Fed is financing almost, if not all, new debt financing emanating from the government’s checkbook. How long can that go on before someone call out about the Emperor’s new clothes?
October 12th, 2009 at 12:13 am
“Though Mauldin doesn’t think so…”
Glad someone else noticed that. John is a great analyst, but when comes the time to integrate social considerations into his thinking, he falls woefully short.
His political beliefs are also creeping into his writings a tad more than dispassionate and lucid analysis requires.
October 12th, 2009 at 1:20 am
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yeah! this story has entered the popular today section on popurls.com…