Posted on 07/21/2011 7:26:09 AM PDT by blam
On the bright side, the NYT and Goldman Sachs may go broke. Wishful thinking, I know....
If it’s inevitable, just bring it on and get it over with.
Today, the market is preparing for doom with a pretty good opening hour rally (Dow up 210, S&P up almost 16). Flight to stocks?
Women and Minorities hurt most.
If treasuries were sold off for pennies on the dollar due to a rating change (which I doubt will happen as the rating agencies are brought-and-paid-for poodles of the Treasury) then the dollar would massively devalue.
And 70% of USD are held as foreign assets.
So it’s not a good idea to ‘de-risk’ by holding fiat of any kind - including the CHF. It’s all colored paper.
Sensible funds would buy hard assets and precious metals.
And the dow is getting very close to 13,000??? Go figure.
It must be a suckers market? But then again, that is what I thought back when the dow was at 10,000.
Hedge funds, proprietary trading firms, and other nimble players would swoop in to buy the overly-cheap Treasuries. These players' risk management practices are far better than those of the large banks, which admittedly isn't saying much at all.
Mutual funds would sell off into the down market, destroying client capital and once again showing us what an utter scam the mutual fund industry is.
Upside: US government wouldn't be able to do any bailouts.
up 130 points this morning.
This morning, reports emerged from Europe that "selective default" was on the table for Greece.
A sovereign nation enters "selective default" when it elects to delay repayment of some of its financial obligations while fully honoring others.
This crap shoot called the market is just that. It is just kids playing roulette and when crap hits the fan the market will crash with America.
+136 as I post.
Any default would be a huge “win” for Omoslem.
Communist moslems trying to sink the USA used to be called “traitors.”
We are not going to default. This is just more pimping for their boy Obama. It will continue until or unless he determines there are more votes to be had by throwing them under the bus than by taking their money.
DJI 12,728.95 Up +157.04 +1.25% Really?.............
Makes sense to me, stocks are a hard asset. A dollar down grade would prompt a dollar devaluation so hard assets would be a good thing to have to ride out the storm. Not seeing much movement in gold, I would expect gold to be up too. Maybe the smart people think 1600 is too much for gold and stocks are a better deal.
“Because nobody knows what is going to happen, nobody knows how to prepare.”
Food, water, ammo, fuel, batteries, TP, bag silver, etc. These boys need to check out prepper sites.
Cash and bonds? Rolled up and dipped into paraffin for use as fire starters, maybe. Weren’t these guys ever in the Scouts?
They have to keep the Dow up or they’ll lose all their government retiree voters (and eventual government retiree voters).
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