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United States News
See other United States News Articles

Title: Treasuries Join Stocks Dropping in Markets Overwhelmed by U.S. Debt Debate
Source: Bloomberg
URL Source: http://www.bloomberg.com/news/2011- ... helmed-by-u-s-debt-debate.html
Published: Jul 28, 2011
Author: Bloomberg
Post Date: 2011-07-28 08:24:19 by go65
Keywords: None
Views: 23731
Comments: 56

Stocks and Treasuries are moving in tandem twice as often as they normally do, a sign investors are growing convinced the U.S. will lose its AAA credit rating and that an impasse among lawmakers may spur losses in both markets.

The Standard & Poor’s 500 Index has risen or fallen together with 10-year Treasury notes 80 percent of the time in the last 10 days, compared with the average since 2000 of 41 percent, according to data compiled by Bloomberg. The benchmark index for American shares lost 2 percent yesterday, the most since June 1, and the 10-year bond fell, driving its yield up three basis points to 2.98 percent.

Equities and government bonds are reversing their historical relationship because a downgrade and the possibility of default by the U.S. government would put principal payments at risk and curb economic growth that has helped send the S&P 500 up 93 percent since March 2009. Conviction that lawmakers will fail sent rates on bills due next month to the highest level since March 31, data compiled by Bloomberg show.

“The politicians should learn from this that they shouldn’t wait until we have our backs against the wall,” Donald Selkin, New York-based chief market strategist at National Securities Corp., said in a telephone interview. Selkin, a 35-year Wall Street veteran, helps manage about $3 billion. “It’s very irresponsible because it can affect the economy and jobs. They’re putting us in a situation where we could have another financial meltdown.”

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#16. To: A K A Stone (#14)

Who said I want to negotiate with your side. I simply want liberals destroyed, gone, no more.

You need to stop with the talk of suicide.

mininggold  posted on  2011-07-28   11:18:30 ET  Reply   Trace   Private Reply  


#17. To: no gnu taxes (#11)

Obama's official position on raising debt ceilings

the country's finances were a bit different in 2006. If Bush hadn't slashed taxes in 01 and 03, spent a trillion on wars without paying for them, and not enacted Medicare Part D, again without paying for it, the debt ceiling wouldn't be much of an issues now.

Tagline for sale - inquire within

go65  posted on  2011-07-28   11:20:03 ET  Reply   Trace   Private Reply  


#18. To: A K A Stone (#14)

Who said I want to negotiate with your side. I simply want liberals destroyed, gone, no more.

there's a guy in prison in Norway who thinks like you do.

Tagline for sale - inquire within

go65  posted on  2011-07-28   11:20:22 ET  Reply   Trace   Private Reply  


#19. To: go65 (#18)

I'm talking about as a political force.

There will always be stupid people with us. I just want them in the extreme minority with no power.

You know the way it used to be.

A K A Stone  posted on  2011-07-28   11:22:17 ET  Reply   Trace   Private Reply  


#20. To: go65 (#17)

Tax receipts increased after Bush tax cuts. The tax cuts were good. He should have raised them on people who don't pay any taxes though. They need to get rid of that tax loophole. You know tax the poor at 5 percent or so. Rich should pay like 10 to 15 percent.

I do agree with you on the wasted money from the unconstitutional wars.

A K A Stone  posted on  2011-07-28   11:24:04 ET  Reply   Trace   Private Reply  


#21. To: A K A Stone (#19) (Edited)

You know the way it used to be.

The 'way' it used to be was everyone, especially military veterans voted Democrat in their local and congressional elections and every 3rd pres cycle.

mininggold  posted on  2011-07-28   11:26:35 ET  Reply   Trace   Private Reply  


#22. To: go65 (#17)

If Bush hadn't slashed taxes in 01 and 03

Boosted the economy and Obama loves it as he has left them in place!!

Medicare Part D

And the Democrats problem with it is that not enough money was being spent.

So we've still got Medicare reform and the tax cuts. Nothing has changed. You people and your Kenyan leader are full of shit.

Now, I know I’m not going to change the minds of any of the True Believers…those who read all of Reverend Al’s sermons, and say things like, “You know, global warming can mean warmer OR colder, wetter OR drier, cloudier OR sunnier, windier OR calmer, …”. Can I get an ‘amen’??

no gnu taxes  posted on  2011-07-28   11:28:08 ET  Reply   Trace   Private Reply  


#23. To: no gnu taxes (#22)

Boosted the economy and Obama loves it as he has left them in place!!

Obama left them in place so he could get a payroll tax cut.

And the Democrats problem with it is that not enough money was being spent.

It was enacted by Republicans, maybe you missed that.

So we've still got Medicare reform and the tax cuts. Nothing has changed. You people and your Kenyan leader are full of shit.

So by your logic the fact that the Boehner plan doesn't touch Medicare or SS means that Republicans love those programs.

Glad to hear it!

Tagline for sale - inquire within

go65  posted on  2011-07-28   11:30:07 ET  Reply   Trace   Private Reply  


#24. To: go65 (#23)

Obama left them in place

Yes, he did, your rationalization for his hypocrisy aside.

It was enacted by Republicans, maybe you missed that.

So you have a problem with Republicans making prescription drugs for seniors affordable? What in Obama or the Dims proposals shows they think repealing it is a good idea? Oh, I forgot, they are such gutless pieces of shit, they didn't even pass a budget for 2 years.

So by your logic the fact that the Boehner plan doesn't touch Medicare or SS means that Republicans love those programs.

Boehner is just a pragmatist, which is why he is having a problem with the courageous members of his own party. When the GOP proposed entitlement reform, you accused them of wanting to throw old people off cliffs.

You are so full of shit.

Now, I know I’m not going to change the minds of any of the True Believers…those who read all of Reverend Al’s sermons, and say things like, “You know, global warming can mean warmer OR colder, wetter OR drier, cloudier OR sunnier, windier OR calmer, …”. Can I get an ‘amen’??

no gnu taxes  posted on  2011-07-28   11:35:18 ET  Reply   Trace   Private Reply  


#25. To: A K A Stone (#20) (Edited)

Tax receipts increased after Bush tax cuts.

Dropped initially then increased for 2 or 3 years.

That's it...

America...My Kind Of Place...

"I truly am not that concerned about [bin Laden]..."
--GW Bush

"THE MILITIA IS COMING!!! THE MILITIA IS COMING!!!"
--Sarah Palin's version of "The Midnight Ride of Paul revere"

I lurk to see if someone other than Myst or Pookie posts anything...

war  posted on  2011-07-28   11:37:34 ET  Reply   Trace   Private Reply  


#26. To: no gnu taxes (#22)

And the Democrats problem with it is that not enough money was being spent.

Yea so?

In your feeble mind is that a Get Out Of Jail Free Card for the GOP spending that money?

America...My Kind Of Place...

"I truly am not that concerned about [bin Laden]..."
--GW Bush

"THE MILITIA IS COMING!!! THE MILITIA IS COMING!!!"
--Sarah Palin's version of "The Midnight Ride of Paul revere"

I lurk to see if someone other than Myst or Pookie posts anything...

war  posted on  2011-07-28   11:41:17 ET  Reply   Trace   Private Reply  


#27. To: A K A Stone (#19)

You know the way it used to be.

When was that?

"...all of the equations in neoclassical economics are rubbish. The differential equations describe nothing. Economics is not about mathematics, it is about the human being." Sandeep Jaitly

lucysmom  posted on  2011-07-28   11:41:34 ET  Reply   Trace   Private Reply  


#28. To: go65, A K A Stone (#18)

Who said I want to negotiate with your side. I simply want liberals destroyed, gone, no more.

there's a guy in prison in Norway who thinks like you do.

He walked right into that one.

"Keep Your Goddamn Government Hands Off My Medicare!" - Various Tea Party signs.

Godwinson  posted on  2011-07-28   11:47:37 ET  Reply   Trace   Private Reply  


#29. To: lucysmom (#27)

When was that?

Must have been before 1994 and the Pub majorities in Congress.

mininggold  posted on  2011-07-28   11:50:51 ET  Reply   Trace   Private Reply  


#30. To: A K A Stone (#19)

There will always be stupid people with us. I just want them in the extreme minority with no power.

See, who says we never agree on anything! I agree with you 100%

Hopefully in 2012 we can restore the stupid people back to an extreme minority so they no longer control the House of Representatives.

:-)

Tagline for sale - inquire within

go65  posted on  2011-07-28   11:56:58 ET  Reply   Trace   Private Reply  


#31. To: mininggold (#29)

Must have been before 1994 and the Pub majorities in Congress.

Meg Whitman laments the good old days.

www.youtube.com/watch?v=W...feature=player_detailpage

"...all of the equations in neoclassical economics are rubbish. The differential equations describe nothing. Economics is not about mathematics, it is about the human being." Sandeep Jaitly

lucysmom  posted on  2011-07-28   12:16:30 ET  Reply   Trace   Private Reply  


#32. To: lucysmom (#27)

You know the way it used to be.

When was that?

Before FDR and his raw deal.

A K A Stone  posted on  2011-07-28   14:25:44 ET  Reply   Trace   Private Reply  


#33. To: war, badeye (#26)

You corrected me the other day. I was wrong when I said Badeye only used your name once. Sorry for the mistake.

A K A Stone  posted on  2011-07-28   14:26:59 ET  Reply   Trace   Private Reply  


#34. To: A K A Stone (#32)

The Good Old Days

Here's to hoping you get to personally relive them, Stone.

Skip Intro  posted on  2011-07-28   14:32:44 ET  (3 images) Reply   Trace   Private Reply  


#35. To: A K A Stone (#33)

No worries.

Have a good day.

Regards,
The Mean Ugly DwarF

America...My Kind Of Place...

"I truly am not that concerned about [bin Laden]..."
--GW Bush

"THE MILITIA IS COMING!!! THE MILITIA IS COMING!!!"
--Sarah Palin's version of "The Midnight Ride of Paul revere"

I lurk to see if someone other than Myst or Pookie posts anything...

war  posted on  2011-07-28   14:39:36 ET  Reply   Trace   Private Reply  


#36. To: war (#35)

Regards, The Mean Ugly DwarF

Can we call you MUD from now on? The other guy who used that name seems to have been vaporized.

Skip Intro  posted on  2011-07-28   14:43:39 ET  Reply   Trace   Private Reply  


#37. To: Skip Intro (#34)

I like those school seats. That picture is a keeper.

Fred Mertz  posted on  2011-07-28   14:47:30 ET  Reply   Trace   Private Reply  


#38. To: Skip Intro (#36)

Yeah, where did that loon go?

Fred Mertz  posted on  2011-07-28   14:48:13 ET  Reply   Trace   Private Reply  


#39. To: Skip Intro (#36)

Funny...good catch...

Wonder what did happen to Mudd...

America...My Kind Of Place...

"I truly am not that concerned about [bin Laden]..."
--GW Bush

"THE MILITIA IS COMING!!! THE MILITIA IS COMING!!!"
--Sarah Palin's version of "The Midnight Ride of Paul revere"

I lurk to see if someone other than Myst or Pookie posts anything...

war  posted on  2011-07-28   14:48:32 ET  Reply   Trace   Private Reply  


#40. To: Fred Mertz (#37)

I like those school seats. That picture is a keeper.

I think that little girl in the picture on the left is about to get eaten by a wolf.

Skip Intro  posted on  2011-07-28   14:49:36 ET  Reply   Trace   Private Reply  


#41. To: A K A Stone (#7)

You assholes just want your welfare checks to continue.

That's exactly right.

A lot of the leftists on this site seem to be relatively well-off retirees who are collecting Social Security, paid for by younger struggling families. It's not right.


To preserve our independence, we must not let our rulers load us with perpetual debt. We must make our election between economy and liberty, or profusion and servitude. — Thomas Jefferson

jwpegler  posted on  2011-07-28   15:06:06 ET  Reply   Trace   Private Reply  


#42. To: mcgowanjm (#8)

A MAXIMUM Wage is imposed.

So, what are you smoking today? 8D... LOL.


To preserve our independence, we must not let our rulers load us with perpetual debt. We must make our election between economy and liberty, or profusion and servitude. — Thomas Jefferson

jwpegler  posted on  2011-07-28   15:06:57 ET  Reply   Trace   Private Reply  


#43. To: Skip Intro (#34)

What trillions of dollars in welfare spending has wrought:



To preserve our independence, we must not let our rulers load us with perpetual debt. We must make our election between economy and liberty, or profusion and servitude. — Thomas Jefferson

jwpegler  posted on  2011-07-28   15:17:16 ET  (9 images) Reply   Trace   Private Reply  


#44. To: jwpegler (#43) (Edited)

What trillions of dollars in welfare spending has wrought:

That's pictorial proof of the trickle down effect that we were told would lift all boats, when it really only trickled UP to the CEOs.

mininggold  posted on  2011-07-28   16:21:25 ET  Reply   Trace   Private Reply  


#45. To: jwpegler (#41)

A lot of the leftists on this site seem to be relatively well-off retirees who are collecting Social Security, paid for by younger struggling families.

Those collecting SS either paid into the system or were/are homemakers whose spouses paid into the system.

America...My Kind Of Place...

"I truly am not that concerned about [bin Laden]..."
--GW Bush

"THE MILITIA IS COMING!!! THE MILITIA IS COMING!!!"
--Sarah Palin's version of "The Midnight Ride of Paul revere"

I lurk to see if someone other than Myst or Pookie posts anything...

war  posted on  2011-07-28   16:24:52 ET  Reply   Trace   Private Reply  


#46. To: A K A Stone (#7)

Time for the shit to hit the fan.

Imagine the shit being Niagara Falls and the fan being Hurricane Katrina.

America...My Kind Of Place...

"I truly am not that concerned about [bin Laden]..."
--GW Bush

"THE MILITIA IS COMING!!! THE MILITIA IS COMING!!!"
--Sarah Palin's version of "The Midnight Ride of Paul revere"

I lurk to see if someone other than Myst or Pookie posts anything...

war  posted on  2011-07-28   16:26:36 ET  Reply   Trace   Private Reply  


#47. To: war, jwpegler (#45)

Those collecting SS either paid into the system or were/are homemakers whose spouses paid into the system.

He, like so many seems to be getting SS mixed up with SSI.

mininggold  posted on  2011-07-28   16:29:41 ET  Reply   Trace   Private Reply  


#48. To: war (#45) (Edited)

Those collecting SS either paid into the system or were/are homemakers whose spouses paid into the system.

So what? The system is nothing more than another welfare scheme -- one transfers money from poorer working people to wealthier retired people.


To preserve our independence, we must not let our rulers load us with perpetual debt. We must make our election between economy and liberty, or profusion and servitude. — Thomas Jefferson

jwpegler  posted on  2011-07-28   16:33:18 ET  Reply   Trace   Private Reply  


#49. To: jwpegler (#48)

So what?

So keep your fucking hands off social security, thats what. Sabe?

Thunderbird  posted on  2011-07-28   17:00:50 ET  Reply   Trace   Private Reply  


#50. To: Godwinson (#2)

You think those Tea Part inbreds have a clue about world finance?

Ok, gobsheit... EXPLAIN it.

Don't forget to include terms like "oligopoly," BIS, IMF and UN.

Please comprehensively explain, in your own words, how allowing a country that is already bankrupt (and defaulting through inflation) to increase the amount of debt incurred will somehow eliminate the debt problem.

I'm sure we'll all wait with great anticipation, your elucidation of this vexing problem, and the simple solutions that you clearly have at your fingertips....

Don't forget to include relevant economic data...

The fact that they reduce the debate to kitchen table analogies shows you how provincial and out of their depth of understanding they are.

I'm sure your advanced financial acumen will help you clarify why this is not a simple matter of overspending...

It used to be the leftists that had bumper-stickers that said things like "Question Authority.' Today they follow slogans from 1984:

War is peace.
Freedom is slavery.
Ignorance is strength.

They blindly LOVE Big Brother. They believe competition, pride & profiting from ones labor, are evil things to be banished.

Stephen King observed, "The beauty of religion mania is that it has the power to explain everything... [so] logic can be happily tossed out the window.

This describes socialists. They will ignore logic and "common sense." They will ignore REALITY. Because THEY are religious zealots...

THEIR God... is the STATE.

Capitalist Eric  posted on  2011-07-28   17:02:03 ET  Reply   Trace   Private Reply  


#51. To: Thunderbird (#49)

So keep your fucking hands off social security, thats what.

Freeloader. Moocher. Parasite.


To preserve our independence, we must not let our rulers load us with perpetual debt. We must make our election between economy and liberty, or profusion and servitude. — Thomas Jefferson

jwpegler  posted on  2011-07-28   17:04:36 ET  Reply   Trace   Private Reply  


#52. To: war (#46)

Time for the shit to hit the fan.

Imagine the shit being Niagara Falls and the fan being Hurricane Katrina.

Better now then passing the problem to our kids. I'm tough. I'll survive.

A K A Stone  posted on  2011-07-28   19:25:41 ET  Reply   Trace   Private Reply  


#53. To: jwpegler (#48) (Edited)

So what? The system is nothing more than another welfare scheme - - one transfers money from poorer working people to wealthier retired people.

You do know that the people receiving SS benefits either paid into the system or are beneficiaries of those who did? You also know that SS is currently a solvent system?

America...My Kind Of Place...

"I truly am not that concerned about [bin Laden]..."
--GW Bush

"THE MILITIA IS COMING!!! THE MILITIA IS COMING!!!"
--Sarah Palin's version of "The Midnight Ride of Paul revere"

I lurk to see if someone other than Myst or Pookie posts anything...

war  posted on  2011-07-29   8:03:32 ET  Reply   Trace   Private Reply  


#54. To: A K A Stone (#52)

Better now then passing the problem to our kids.

You're of the "mind" that if the US defaults on that its debt that it halts both current and future "problems" in their tracks?

Do you pay your bills?

America...My Kind Of Place...

"I truly am not that concerned about [bin Laden]..."
--GW Bush

"THE MILITIA IS COMING!!! THE MILITIA IS COMING!!!"
--Sarah Palin's version of "The Midnight Ride of Paul revere"

I lurk to see if someone other than Myst or Pookie posts anything...

war  posted on  2011-07-29   8:05:28 ET  Reply   Trace   Private Reply  


#55. To: jwpegler (#42)

A MAXIMUM Wage is imposed.

So, what are you smoking today? 8D... LOL.

LMFAO

Great Comeback.

Tobacco causes cancer dontcha know. Nicotine the Most addictive Drug. Alcohol the most toxic.

After those two, what does it matter?

Boehner Humiliated.

BUWAHAHAHAHA WUHAHAHA 8D

mcgowanjm  posted on  2011-07-29   8:21:26 ET  Reply   Trace   Private Reply  


#56. To: mcgowanjm (#55)

8D


To preserve our independence, we must not let our rulers load us with perpetual debt. We must make our election between economy and liberty, or profusion and servitude. — Thomas Jefferson

jwpegler  posted on  2011-07-29   18:37:52 ET  Reply   Trace   Private Reply  


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