bonds Markets steve mnuchin

Debt Ceiling D-Day

Fair warning.

Fair warning.
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10 comments on “Debt Ceiling D-Day

  1. H, I don’t think that Trump is sufficiently well versed in American history to even know what the Trail of Tears is concerning, so I don’t think he was mocking Warren. I think he was referring to the campaign trail. I don’t write this in defense of Trump, but rather our of respect for the Trail of Tears, which unfortunately, most Americans know nothing about.
    I would say, I am somewhat surprised by your favorable tone as it regards Warren. Her need to scold me for being an ardent and successful capitalist doesn’t cause me to be sympathetic to her leanings. Where her criticism of bank regulations or lack thereof may be somewhat valid, her broad stroked claims of gross malfeasance by CEOs and small business owners, offends and angers me. She can hardly be a rational judge of how the business world works when she has never participated within it. I would think that working under the managerial direction of Larry Summers at Harvard would be far more dibilitating and discouraging than anything happening at JPMorgan under Jamie Diamond. Where is her sharp tongue where it concerns the institutionalize inequalities of the Harvard combine?

    • did you read the embedded tweets? it seems pretty clear now that he was referring to the Trail of Tears. at some point, folks are going to have to just accept this for what it is: Donald Trump is a national disgrace. and as usual, i would note that literally nothing he does will ever affect me in any way, shape or form other than the tax cuts, which actually benefit me. long-time readers know i am to a certain extent immune from what happens inside the Beltway or what happens in the world more generally. i call things like i see them, nothing more, nothing less and the harsh reality is that America has become the laughing stock of the planet thanks to Trump. it is what it is.

      • Not to put too fine a point on it, but thank god they consider us a laughing stock. Imagine if they took Trump seriously, then did stupid things like try to emulate our experiment in carny barkerism. OK, so it might improve Somalia, or Venezuela, or maybe even North Korea. But not many other places. We can only hope that the US becomes a shining beacon of what not to do. So sad.

      • I agree with you response. Trump is an embarrassment at all levels. While I also remain outside of his touch and that of the Beltway, I fear for capitalism as I have known it since my first “job” as a paper boy in 1954 and my subsequent rise to Chairman and CEO of a public company, which I operated for 25 years.
        The AOC/Warren movement needs to be challenged at every opportunity. To villanize success is contemptible (IMO)

        • What’s really contemptible is reaching high success in wealth and counting your money and not reaching back and pulling fellow citizens up just a bit, to lend a hand to less lucky than you and improve the well-being of others. Millions of people far out-number the super rich in U.S. and that huge group pay more to maintain this country. They scrimp and save just to feed and clothe their families and their children have far less opportunity to reach your level. Much crime is a result of desperation and depression and even necessity.

          Some rich find it easy to just write a check to some national organization which ends up going mostly in the pockets of the people who run those organizations and not to the people who need the help the most. The grifters like trump take advantage of the laws and the people who give and their alleged charities do nothing to actually help others. Proven true in trump’s case recently when his phony foundation was shut down.

          The best way to provide help to those who need it would be a better taxing system. The rich should be paying more and adapting a tax law change in line with AOC/Warren’s ideas. It’s not going to change your life and it will, in fact, change millions of other’s lives.

        • The question Anon is, do you give back to the society that gave you a shot for your good fortune?
          Checks don’t count, only time, experience and wisdom are what has real value.
          Most C-suite folks I’ve sold to are just ego-stroked dinner and helicopter types. SAD

  2. I don’t think AOC (let alone Warren) would ever demonize someone who started as a paperboy and ended up being the CEO of a public company.

    It’s the systematic rigging of the system that ensures paperboys no longer have that opportunity that is the problem.

  3. The street assessment? The US government is a shit show and deserves Trump, may even deserve Trump for 2020.

    I think I understand Warren and I agree with her arguments made public on Bloomberg, but the street isn’t ready to hear anything but ad hominem until they see more politicians finally getting that policy is supposed to work for the people and not the other way around.

    And that doesn’t mean being lectured by Congressmembers that we can publicly anguish over publicly choosing our gender without getting slapped upside the head.

  4. “Obviously, the US cannot truly “default” – you can’t “default” if you print the world’s reserve currency. That doesn’t make any sense.” While I agree it doesn’t make any sense… could you not? Just outright refuse to issue currency, raise the debt ceiling or issue payments and just outright shove the world off the dollar in one fell swoop? I mean it’s a ridiculous proposition but one that makes me wonder precisely how in deep Individual #1 is with Putin. What crown jewel could be more valuable to Russia than to destroy the dollar supremacy? This is pretty tinfoil hat… but it does make me wonder.

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