Tuesday, July 12, 2011

The Debt Ceiling Minuet As Seen By Zero Hedge

I read widely but when it comes to financial news, much of it escapes me. Every time in life that the idea of investmenting would cross my mind, some other shiny thing attracted my attention before I could get much farther than subscribing to Better Investing or bookmarking a few companies in E-Trade. Partly, I think, because I am so very immune to marketing that I can't move with the crowd in time to make the market pay for me.... and partly - mostly - because I really do have confidence that God will provide for my needs. At any rate, you may notice the wide diversity of my links doesn't include market reports.

There is one financial blog I read regularly, and it is the only one I read: Zero Hedge: Motto "On a long enough time line, the survival rate for everyone drops to zero."

Read what and whereever to understand the machinations of both parties as they enjoy their Debt Ceiling Minuet, but the true situation is clearly stated  in Tyler Durden's "Senate Republican Leader McConnell Folds On The Debt Ceiling":

"Something troubling happened in D.C. today, where it seems that the Senate Republican leader basically just folded like a cheap suit in the ongoing farscial standoff on the debt ceiling (which luckily should bring the whole comedy to an end and the nation can progress with its previously scheduled ponzi collapse)."........

"Of course nobody will trash the proposal: it almost certainly represents what the final outcome on the debt ceiling will be: a grand compromise of muppetry, in which nothing is achieved on either spending cuts, or tax hikes, yet $2.5 trillion in additional debt is added, bringing total US 2012 debt/GDP to about 120%... or about where Italy is today. And that's not counting the $6 trillion in government-guaranteed GSE debt."

You'll want to go over there and read it all.

But afterward, before you give up, grab a cup of unexpected hope being unveiled on the same site by enjoying the first installment of "The Zero Hedge Effect – Crossing the Event Horizon - Part 1 of 2"

Don't miss it!

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