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Title: Washington Is Annoyed at Wall Street's Failure to Panic (Hysteria needed)
Source:
CNBC
URL Source: http://www.cnbc.com/id/43943482
Published: Jul 30, 2011
Author: John Carney
Post Date: 2011-07-30 18:08:01 by Hondo68
Keywords: panic would be very helpful, hope for a panic sell-off, bring everyone together
Views: 667
Comments: 5
He told me that the biggest obstacle he faces has been "market complacency." "Frankly, a bit of panic would be very helpful right now," he said. As he explained it, lots of people in Washington, D.C. expected that this would be a week marked by panic in the markets. Stocks would tank. Bonds would get clobbered. The dollar would do something dramatic. And all of this would help convince reluctant lawmakers that they had to reach a compromise on the debt ceiling. "We were following the script from 2008. When the market collapsed after TARP failed, that spooked everyone enough to get them to fall in line. We thought the same thing would happen this week," he said. Instead, the market has just been on a quiet, non-panicked slide. Stocks have sold off by a couple of percentage points, but nothing that indicates a real fear trade in the works. Everyone in D.C. has a theory about this. Some believe the market is sending a message that a deal will get done. Others think the market doesn't understand politics. Think about this. We just got stunningly bad news about economic growth. The first-quarter number was revised into a nullity. But the markets are basically flat today. "Every day we wake up and think that stocks will send a shock up to Capitol Hill. And every day nothing happens," the source said. He's still holding out hope for a panic sell-off at the end of the day. "It's the only thing that's going to bring everyone together on this," he said.
Poster Comment: The resident libs aren't doing a very good job of creating hysteria. They're racists!
I just got off the phone with a source on Capitol Hill who has spent the past few days trying to convince Republicans to vote for a debt ceiling hike.
How to navigate a rocky market, with David Darst, Morgan Stanley, and Mike Koskuba, Victory Capital Management.
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#1. To: hondo68 (#0)
It is obvious – even to many of our ever-somnolent Establishment commentators – that the situation is an entirely manufactured crisis designed solely to impose shock-doctrine “austerity” on the American system, thus completing its long, painful mutation into a neo-feudal oligarchy backed by a militarist police state.
Where does the average American have the option to dump onerous student loans, insane credit card debt, or other payday loans for that matter? There is no mechanism for this outside of bankruptcy (and student loans are still with you even after that). Many of the too big to fail banks have simply shifted toxic assets to the Federal Reserve.
Mail the bill to: Barry Barack Hussein Sotoreo-Obama
Barry Barack Hussein Sotoreo-Obama 1600 Pennsylvania Ave. Washington DC, USA Why? Someone will pay it? Get serious. " Consumer Metrics Institute Lakewood, Colorado July 29, 2011 BEA Reports 1Q-2011 and "Great Recession" Far Worse Than We Were Previously Told Included in the BEA's first ("Advance") estimate of second quarter 2011 GDP were significant downward revisions to previously published data, some of it dating back to 2003. Astonishingly, the BEA even substantially cut their annualized GDP growth rate for the quarter that they "finalized" just 35 days ago -- from an already disappointing 1.92% to only 0.36%, lopping over 81% off of the month-old published growth rate before the ink had completely dried on the "final" in their headline number. And as bad as the reduced 0.36% total annualized GDP growth was, the "Real Final Sales of Domestic Product" for the first quarter of 2011 was even lower, at a microscopic 0.04%. And the revisions to the worst quarters of the "Great Recession" were even more depressing, with 4Q-2008 pushed down an additional 2.12% to an annualized "growth" rate of -8.90%."
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#2. To: All (#1)
#3. To: mcgowanjm (#2)
Where does the average American have the option to dump onerous student loans, insane credit card debt, or other payday loans
1600 Pennsylvania Ave.
Washington DC, USA
#4. To: hondo68 (#3)
Mail the bill to:
Replies to Comment # 4.
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