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Watching the watchers

October 15, 2013 - Harry Eagar
The old newspaperman in me notes that in "continuously" updated coverage of the congressional debt talks, the online New York Times has its latest update time at 3:52 PM (Eastern time) today, while the Washington Post has not updated since before 10 AM.

As for RtO's guess that the Republican suicide bombers would blow up the government ("Out of the Market," Sept. 19), the markets have performed a death-defying aerial act, bravely, if foolishly refusing to panic.

As of now, the stocks I sold a month ago are trading higher, not lower. I am not greatly disturbed. Like General Grant, I intended to stick it out if it "takes all summer."

It is looking grim for the grownups, and I still expect, like John D. Rockefeller, to "pick up attractively priced securities" before this is over, though not as many as he did after the GOP-engineered crash of '29.

UPDATE, about 6 pm in DC, the Post reports (very hastily, with many typos):

"Just prior to the postponement, the conservative outfit Heritage Action said it opposed the measure, and rank-and-file lawmakers normally supportive of leadership expressed alarm that they had shut down the government and would get nothing for it except a punitive measure hurting their own staff’s healthcare, according to GOP chiefs of staff."

I don't know if any of my readers are fans of the Firesign Theater, but I immediately thought of Mrs. Presky.


Article Comments



Oct-18-13 5:41 PM

Wall street sweated but the whole world watched and now know, America's not exceptional.


Oct-15-13 9:11 PM

Yes. Maybe less billionaires. Seems this will make a good movie. Wallstreet 3.


Oct-15-13 6:29 PM

Don't kid yourself. When the market crashes most people will get hit hard, but the 1% will make $ out of it.

Liquidity is magic in a crash and they have it.


Oct-15-13 5:38 PM

Due to default of our Government leaders, the stock market may go over the cliff with them and the 1% will become the 99% or in total percentage, America will be 100% in debt or broke. Fault of the 1% for sending jobs overseas. Import immigrants and not paying their fair share of taxes. "offshore" accounts not taxed. Swiss accounts that have many zeroes in them and not talking about holes in cheese.

If IRS can tax these accounts, may help the debts. Conservatives will have to conserve and liberals since they will not be getting an income. trump will be trumped by his own greed. I always said instead of raising the debt ceiling, dig a deeper hole. Sinking in quicksand. The more we struggle the faster we sink. I just bought me a life jacket.

Osama bin Laden predicted like he did for Russia that ten years in Afghanistan will make America go broke and bankrupt.


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