Loading ...WHEW THAT WAS CLOSE
For a While there it looked like the end of the Financial World was Nigh
Raging Inflation
5% Interest rates and rising
Major Bank Failures and Bailouts
Monumental Fraud in the shadow Banking System ( FTX)
Debt Ceiling Drama
Stocks looking ready to Fall
Gold new all time highs
Everybody predicting a Hard Landing and soon
AND …NOT TO MENTION WW3 BREWING
But Today all is rosey as far as the eye can see
Strong Jobs is the word
Uniparty passes the bill to keep the Can Moving for 2 more years .
Headlines are shouting No recession
Everybody got used to Inflation ( yesterdays news)
The Business Cycle is a myth
Stock market Rallies Onward…New recent highs every sector…except Gold ( of course)
No more talk of bank Failures or
All the Fraud ala FTX
Gold languishes
Gold Stocks SUCK
War fatigue sets in..who gives a rats ass about a bunch of teenaged mentality maniacs who love their big Toys
PARTY LIKE ITS 1925
……………..
JMHO but Did the Republicans actually “LOOSE” THE Debt Ceiling negotiations ?
Most Right wing comentators and analysts think YES
BUT…by Nov 2024 …things are likely going to get a lot worse with the unlimited spending the Dems have secured.
The bank failures were going to happen anyway, given their unrealized losses.
But were they pushed, conveniently, ahead of the debt ceiling negotiations. MMT 2.0 appears to have won, near term. CPI back to double digits soon.
Choices are now binary.
Hyperinflation or hyper deflation.
One may be faster to happen than the other, but I don’t see a Door #3.
The Muddle Through path is no longer tenable.
The GOP lost because they pushed thru a reasonable bill that would have cut back a portion of Biden’s excessive spending. If McCarthy didn’t cave Biden would have been forced to accept most of it and it wasn’t harsh at all. McCarthy caved showing once again what we knew all along, he is a Rhino from California and not a conservative at all.
Agree that this is the most important “lesson” from the Debt Ceiling fiasco — and it also confirms massive lack of judgement for those Republicans that allowed his election into this position in the first place.