- the Republican debate and
- resolving U.S. debt.
The Trump Cards Have Been Played Posted at 1:15 p.m. EDT on Thursday, Oct. 10 I'm handicapped here. I never like to buy up 200 Dow points, even when it is from a much higher level and therefore a smaller percentage. But the short base is huge. And who can blame the shorts. Until yesterday the president didn't seem to be able to budge the GOP. But nobody can handle being blamed for Social Security checks being withheld and doctors' payments delayed. It seems that the Tea Party is very powerful in its ability to terrorize the Speaker of the House into submission, but between the haranguing of the 90-or-so members of Congress who fit the description of small-government stalwarts and the blame of delaying Social Security and Medicare, well, let's just say that trying to trim entitlements is a lot different from not paying them. I am sure that in some corridors of the Republican Party last night it dawned on the leadership that the challenge isn't from the insurgents once the third rail is played, the challenge is from the Democrats. Even members of gerrymandered districts where social issues rule don't want their government checks delayed.
What's the Plan? Posted at 3:31 p.m. EDT on Monday, Oct. 7 The end of the world is really hard to pin down, isn't it? What day does it end? Does it end immediately? Does it end with a bang? With a whimper? These are the central issues. The Treasury Secretary is almost too confident everything will be resolved. The House Speaker is equally confident. What the heck makes them so confident? The only thing that seems to get everyone focused is a drop-dead deadline, and we don't have one because of the peculiar nature of money in and money out with the federal government. Frankly, anyone who says what the world will look like on Oct. 18 doesn't really know. You would have to anticipate what the ratings agencies have to say and what the money in the till would be and whether Jack Lew can really prioritize things.