PowerTalk – The Fiscal Cliff, Debt Ceiling, The Economy & The Mood On The Floor of the NYSE
This week’s PowerTalk interview is with Keith Bliss, Senior Vice President at Cuttone and Company, one of the largest floor brokers on the New York Stock Exchange (NYSE). Keith is an old friend of mine, and he shares what he sees from the trading floor these days. He starts the conversation off by saying 2013 is shaping up to deliver a lot more of the | Read More »
, debt ceiling
, fiscal cliff
, Goldman Sachs
, interest rates
Hoaxes, Hackers and the Race to Steal Your Personal Information
On today’s edition of Coffee and Markets, Brad Jackson and Ben Domenech are joined by Francis Cianfrocca to discuss the debt ceiling, Manti Te’o, and how hackers can mine your personal information.
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Obama’s debt speech just mailed in
Remarks attributed to Barack Obama in 2006 regarding the debt ceiling were never spoken in the senate, but were mailed in, so to speak.
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The Allure of Moving On
Bend over Republicans, here they come again.Phil Klein is out with a column that I can only assume comes from House Republican Leadership talking points. I can only assume that because House Republican leaders and those close to them have been whispering about this scenario for about a month now to as many Republican strategists, pundits, and others as would listen. They want to move | Read More »
Liberals Don’t Need Revenue to Grow Government Anymore
Once upon a time, liberals were somewhat principled in their pursuit of a utopian dirigisme. Sure, they always liked to play a bit of class warfare, but they fundamentally believed in taxing everyone. After all, if you want a cradle-to-grave government-run society, it’s got to be purveyed by the broad populace. There simply aren’t enough rich people to raise the requisite funds for a rapacious | Read More »
GOP must call out Obama’s Big ‘default’ Lie, chide Bernanke
And it would help if Bernanke would stop enabling the Big Liar Just as in the 2011 battle over the raising of the debt ceiling, President Barack Obama is again accusing Republicans in Congress of “risking default” unless they raise the debt limit before it is reached within the next two months. It was Big Lie in 2011, just as it is now, in 2013. | Read More »
The Debt Limit is the right fight.
I have been reading a lot of things today about how people out there are thinking that we should not have the fight on the debt limit because it is as they say “the wrong fight”. People like Newt Gingrich think that we should wait and fight in March at the end of the CR and allow the debt limit to raise now and make | Read More »
Myth Buster Post (Sandy Hook and Debt Ceiling edition)
#1: There is no such thing as an “assault weapon”. It is a made-up term not unlike the “fiscal cliff”. When the Violent Crime Control and Law Enforcement Act of 1994 was written (the law containing the Federal Assault Weapons Ban), the ban applied to weapons of certain cosmetic characteristics, some of which had little or nothing to do with how effective a weapon is. | Read More »
Argentina – The Deadbeat Wears Prada
It kind of makes me sick when the deadbeat wears Prada. Such is the case with Argentinean President Cristina Fernandez. Argentina overwhelmingly voted her in as President and she immediately borrowed vast sums of money. This influx of cash jet-fueled an economic bubble which predictably popped. Then the bills came due for all the money she had borrowed during Argentina’s economic boom.
Rather than paying the piper and facing the obdurate, double-plus unfunny task of cleaning up after her socialism party, Fernandez made like a good Marxist and socialized some of the losses from her own economic mismanagement. Anyone dumb enough to buy Argentinean bonds got stiffed like a co-star in an old Harry Reams film. Argentina defaulted on its debt payments and referred to some of the hedge funds which hold the now worthless Argentinean paper as “vulture funds” because they refused to take a haircut and attempted to make Argentina’s government answer for their behavior in court.
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BRAC the Budget
I am in favor of not raising the debt ceiling unless the President and Democrats come up with meaningful spending cuts and reforms. Contrary to a lot of the Democrats’ spin, the federal government will not default if the debt ceiling is not raised. Only if Little Timmy Geithner decides to not pay certain debts will the government default. It is his choice. But I | Read More »
The Best Way To Lose On the Debt Ceiling
In the 1984 film “Revenge of the Nerds”, the heroes (the nerds) line up for a tug-of-war competition with the villains (the football team). Outnumbered and seriously overmatched, they’re facing certain defeat, and the humiliation of being dragged through a large mud puddle. They deal with it brilliantly: When the starter’s gun goes off, they let go of the rope. The football team tumbles to the | Read More »
Did Treasury purposely force us to hit the debt limit during fiscal cliff debate?
Earlier I spoke about how it seemed kind of odd that throughout the year the Treasury kept telling us that we would make it until Feb before the debt limit was reached. Then magically on Dec 31 we hit the debt ceiling. Turns out we hit it on that date because Timothy Geithner forced us to hit it on that date. According to CNSNews it | Read More »
Obama: It’s Okay to Break the Law When It Comes to Submitting a Budget
Under law, the White House must submit a budget this year by February 4. According to the Hill, Late Friday evening, Deputy Director Zients confirmed that for the fourth time in five years, the president’s budget will not be submitted in compliance with the law,” Only 1 budget out of 4 have been submitted on time — the budget in 2010. The rest of the | Read More »
Once Again, “We’ll Fight Next Time”
During the fight over the FY 2011 budget in 2011, conservatives were told to stand down and wait for the debt ceiling. At that point, “we would begin to cut trillions,” promised GOP leaders. They wound up caving on the debt ceiling in return for nothing. Then they said we would fight for the FY 2012 budget. Well, once we agreed to lock in the | Read More »
Will Obama Wait?
There are two important fiscal dates coming up in February: February 12 and February 15. February 12 is the scheduled date of Obama’s State of the Union speech, which is also Lincoln’s birthday. It also happens to be three days before the “X Date”, February 15, the estimated date that the Treasury may not be able to pay its bills. The debt ceiling deadline. Does | Read More »