Jesse Eisinger's ProPublica article in today's New York Times concurs with my observation as I explained today to my mother's stock broker that we would like to increase her cash holdings and thereby decrease her securities portfolio of stocks and bonds. The broker's response was that I am reading too much New York Times and not what I should be reading, The Wall Street Journal. Is it possible that Wall Street is plugged into the same Murdoch / Fox news closed end loop that so ably served the S.O.P. in the 2012 elections?
Tracing the Calendar Down to the Last Cent is the article in today's New York Times that shows The U. S. Treasury ran out of authority last spring and has been working with smoke and mirrors ever since! I think we have crossed the line where a delay or any other sort of solution is possible. Treasury Secretary Lew makes a good case that the 14th Amendment option, whereby the The President unilaterally raises the limit, will not work. And I don't see how there is enough time for Obama to capitulate and have that lengthy discussion that Boehner is asking for when Bonehead doesn't have and end game which he can get his caucus to agree to.
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