Posted on 04/18/2011 11:13:57 AM PDT by RobertClark
And for the most unsurprising news of the day, Reuters reports that the White House has admitted it knew about the S&P rating action on Friday. Which means that all the key bond buyers (or sellers are the case may be, Pimco), knew at roughly the same time what the key market catalyst on Monday would be (we can't wait to get a declassified glimpse of Larry Meyer's phone log over the weekend one day in the future). Which also means that today's action was a strawman in which the big boys merely waited for an opportunity to buy bonds are lower prices, which the ongoing European collapse merely facilitated. Most importantly, it is now all too clear why over the weekend, Tim Geithner's face, instead of being hard at work at finalizing his tax filing, would grace each and every TV screen. Advance damage control, TurboTax style.
Just remember kiddies, the Obama Administration is here to “manage America’s decline”.
How is everyone enjoying the new transparency? No matter what spin these idiot in the WH and MSM put on this, it is a disaster. Can you imagine if a previous President and team were out there claiming the economy is in great shape and then having this Moody’s downgrade happen?
And yet POTUS is downplaying the S&P release, and calling it a “political decision” in another report.
“Can you imagine if a previous President and team were out there claiming the economy is in great shape and then having this Moody’s downgrade happen?”
We live in a land of idiots. As long as the MSM and the White Hut tell the morons everything is ok, they’ll believe it.
Want to rile the masses? Disrupt cell phone service so that they can’t text/surf/update twitter and facebook. If all that is working, everything must be ok, and Obama is doing a great job!
I miss the America I grew up in.
I’m telling you, Speaker Boehner is as worthless an oppostion leader you can have, if all he does is cave and cave and cave. He is a barking dog with no bite. He is obamma favorite Republican. I wonder what obamma has on him that can get boehner to do his bidding?
I couldn't agree with you more. There must be a big pile of dirt somewhere on Boehner that is being held over his head. I think that is why he cries so much: It's the thought of all the things he could say and do if only he wasn't being bent over, willingly or not, by Obama.
Ah so what!
The important information is what was Zer0’s golf score on Sunday??
Again, playing while Washington burned!
So did Pimpco have a little inside info on this:
“Which means that all the key bond buyers (or sellers are the case may be, Pimco), knew at roughly the same time what the key market catalyst on Monday would be (we can’t wait to get a declassified glimpse of Larry Meyer’s phone log over the weekend one day in the future).”
Bill Gross at PIMCO had more notice than the White House - PIMCO shorted treasury debt 10 days ago.
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