Bugsy McGurk
President
Big market plunge today, as the sequester looms.
Pugs in Congress are unmoved - they will not compromise!
Pugs in Congress are unmoved - they will not compromise!
Pugs to crash the stock market with sequester?
- Thread starter Bugsy McGurk
- Start date
EatTheRich
President
Both parties--or let us say the White House and the Republican House--are responsible. Isolated from the context, it does look like the political infighting is driving the market down. But if you take a broader view, the market seems peculiarly vulnerable to political arcana and anticipation of an economic shock that hasn't even happened yet and could be mitigated at any time or have its timing manipulated by a matter of months. The explanation, of course, is the fundamental underlying crisis of world capitalism: the goods that have already been produced but cannot be profitably sold (because so few can afford them). The economic symptoms most visible in the U.S. are the continuing deep unemployment and the decline in foreign trade. The inflation of a stock market bubble on the basis of government borrowing and spending had much more to do with the get-rich-quick schemes of speculators than with the revival of production for profit. Now the speculators are reading the writing on the wall and getting ready for the market to fall when the other shoe drops (sequestration).
The deficits themselves are largely the result of the underlying depression conditions, as revenues have declined and spending (stimulus, social services for the growing unemployed) has increased. And the inability to reach a bipartisan solution to the crisis reflects the fact that the bourgeoisie has no solution except to lurch blindly from one ad hoc solution to another (bailout, stimulus, quantitative easing, supercommittee, fiscal cliff, sequestration) as their reification of the president (as hero or villain), their political infighting, and their scapegoating of (the unemployed, immigrants, unionists, etc.) pushes us down the road to fascism.
The deficits themselves are largely the result of the underlying depression conditions, as revenues have declined and spending (stimulus, social services for the growing unemployed) has increased. And the inability to reach a bipartisan solution to the crisis reflects the fact that the bourgeoisie has no solution except to lurch blindly from one ad hoc solution to another (bailout, stimulus, quantitative easing, supercommittee, fiscal cliff, sequestration) as their reification of the president (as hero or villain), their political infighting, and their scapegoating of (the unemployed, immigrants, unionists, etc.) pushes us down the road to fascism.
LeRoy_Was_Here
Senator
It was the results of the Italian election that spooked the markets yesterday. Berlusconi, again?!?!? And a comedian??
LeRoy_Was_Here
Senator
Republicans voted OVERWHELMINGLY for it, Trap....including ALL the Republican leadership in both the House and the Senate. Their fingerprints are all over it.
Bugsy McGurk
President
And which side refuses to compromise so as to avoid the sequester?
The Pugs.
You forgot that part.
NightSwimmer
Senator
Nah... That dog won't hunt. False equivalences are for losers.
jammer
Mayor
TD, did 2/3 of the republicons vote for its passage or not? If they didn't like it, they could have voted against it, instead they cheered like they had won something. Obama couldn't have signed it, if the House had not passed it, now could he?
GordonGecko
President
So the GOP House of Reps was completely by-passed and held no vote on sequestration whatsoever???
marvin martian
Emperor
Can't wait till the sequester takes effect and nothing happens. Obama will look like an idiot, and all the liberal bootlickers here will, too...
The Democrat Chicken Littles are the laughingstock of the country. Listening to Chuck Schumer drag out his tired old lines about the sky falling if he doesn't get to spend more money is sad and pathetic, and the sycophants on the left licking it all up off the floor is just disgusting...
The Democrat Chicken Littles are the laughingstock of the country. Listening to Chuck Schumer drag out his tired old lines about the sky falling if he doesn't get to spend more money is sad and pathetic, and the sycophants on the left licking it all up off the floor is just disgusting...
LeRoy_Was_Here
Senator
By all means, find a post of mine where I am predicting disaster.
Corruptbuddha
Governor
Profit taking from last weeks highs.
Nothing more.
Nothing more.
GordonGecko
President
If nothings going to happen....why do you want to "blame" the President for the sequestration?!?!?!?!?
LeRoy_Was_Here
Senator
No, it was more than that. The Italian election made international investors very nervous. The Italian bond market was in a tizzy yesterday.
Corruptbuddha
Governor
It mush have been a very short-lived nervousness...
Back up near 100 today...
Back up near 100 today...
marvin martian
Emperor
If nothings going to happen....why do you want to "blame" the President for the sequestration?!?!?!?!?
Not "blaming" just looking forward to seeing BamBam and the liberals with egg on their faces. Of course, the state-run media will gin up all kinds of "crises" if the sequester happens, but it's all just...
888888
Council Member
888888
Council Member
Why are those on the right such ignorant bootlickers in their daily thoughts and actions. They constantly show that they would be better served to spend their time in the toilets doing the toe tap that they are widely known for being good at then wasting our time with the garbage they write.
LeRoy_Was_Here
Senator
That's because all the incoming data on the AMERICAN economy are really looking pretty rosy. The markets probably over-reacted to the Italian situation yesterday. Shrug. That happens.
