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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-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.


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