I heard today that the President and CONgress were rushing to try to get some type of debt ceiling done (temporary or not) before Asian stock markets opened for the week (Sunday evening in USA time). I'm struck by this because I'm simply floored by the fact that these politicians are spending any time focused on what equity markets are doing rather than focusing on the task at hand. What I'm getting at is the notion that they are scurrying around to avoid a fall in markets shows me that this is all just a big show for the markets!
Yes, this isn't some new revelation since the timing for all major announcements seem oddly planned EVERY single time to coincide with a Sunday night bombshell or options expiration Friday. As I've noticed these events I've pinched myself saying, "no, it's just a coincidence". However, after having an entire arm covered with red whelps, I am finally of the mindset that a game is being played to juice markets and keep them elevated.
The story here - http://www.foxnews.com/politics/2011/07/24/leaders-seek-debt-deal-before-asian-markets-open/
"White House Chief of Staff Bill Daley warned Sunday that the financial markets are starting to have doubts about the ability of Washington to strike a debt deal, as lawmakers scramble to come up with a plan before Asian stock markets open.Now give me a break! We have several days until this deal needs to be done, and rest assured that our friend Ben Bernanke is quite willing to buy up all the debt in the world to keep us from having an interest rate problem. I saw Tim Geithner on tv telling us how irresponsible those Republican politicians are being and how the apocalypse will be unleashed if something isn't agreed to immediately. While the warnings are grave we can retain a sense of confidence in our financial overlords as every other problem we've faced in the last two years has been met with a change of the rules, a bending of all reality, twisting of economic paradigms, and a moratorium on basic math. Forgive my tongue and cheek approach to the drama, but I personally don't think there is any chance of a deal not getting done, and with hours to spare they'll unveil another monstrosity that will solve nothing and only ensure that Amerika's future is just a bit dimmer.
The Asian markets will start to open Sunday evening Washington time, ahead of the Dow opening in the U.S. Monday morning. U.S. officials are cognizant of the possibility that a failure to outline a path forward by then on how to raise the debt ceiling could roil the markets."
WASHINGTON GENERALS WOULD MAKE GREAT REPRESENTATIVES
Have you been to a Harlem Globetrotters game? I love them and go every time I have a chance. Those guys are funny and entertaining and the kids think they are a blast. My kids haven't figured out that the Washington Generals (the perennial opponent of the Globetrotters) are laying down so the Globetrotters can win. My kids don't realize that the entire game is a show and there is no competition going on down on the field of play. Likewise, I think the entire drama unfolding in CONgress is simply a ruse where each side of the isle is attempting to make the most out of the situation. They are all on the same team, they are just wearing different jerseys to keep up the facade that a competitive game is under way.
So, with that realization, I want to give you the opportunity to watch a movie you may have seen a long time ago. You may have read it in high school back when they actually tried to teach you important ideas and challenge you to think. The entire theater that is Washington relies on all of us buying into the divisions of a two party system where one can be good or one can be bad based on our frame of reference. Let's face it, we all like to be on a team! The problem sets in when you discern that neither one of these teams is good.
I will leave you with these thoughts and questions from the movie.
Ignorance is strength!
The party gives them exactly what they want.
How do you know what exists?
I encourage you to watch it. How Orwell would have ever imagined the things he did when writing it is amazing. I am awed by the idea of the screen in every home and building monitoring every action. It is very much like today.