Oops! We’re not going broke on August 2nd after all.

By: tooncesthecat (Diary)  |  July 25th at 01:20 PM  | 

It seems as though Secretary Geitner and President Obama were wrong.  The United States will not default on August 2 after all.  The 80 million checks can be issued as planned.  Armageddon has been postponed for 8 days. How did this happen?  It seems that projecting government income and expenditures isn’t rocket science–it’s not science at all–it’s anybody’s guess.  And Geitner guessed wrong by several | Read More »

The dog that didn’t bark

By: tooncesthecat (Diary)  |  July 25th at 10:10 AM  | 

Despite predictions and dire warnings after the collapse of debt ceiling negotiations between Obama and Boehner on Friday, there was no comparable collapse of the world or U. S. markets on Monday morning. The Asian markets, which lead off the days trading and were looked to for a signal of how investors would react, were slightly down but within a normal days trading.  Shangai Composite | Read More »