NYSE dropped a total of 635 points Monday. Apparently all the nervous nellies getting out. But today, finished about 434 on the plus side. So looks like the more experienced and hard-to-scare traders decided to buy cheap and have picked up a lot of the slack.
More importantly...
Last night on some show -- and sorry, so tired, I forget which -- a reporter said she was at a press conference of some kind with the Comrade. Newsies asking about how those automatic triggers in the Default Compromise would work.
You know, there's supposed to be a "super committee" created of 12 members, three dems and three Reps from both House and Senate. Then, by Thanksgiving, this committee is supposed to devise a plan to cut $1.5 TRILLION or so from the federal budget. Their recommendations will be voted on "straight up or down" -- no debate, no amendments.
So, if for some reason the recommendations from the super committee are not forthcoming, or are voted down, then that triggers huge cuts in the defense budget and in Medicare.
Pundits claim the defense budget cuts would alarm Republicans, while Medicare cuts would upset the dems. But I don't think so.
The reporter in that aforementioned news conference with the Comrade? Someone asked, "What happens if Medicare is cut? What will seniors do"
The reporter said that the Comrade's eyes shifted around, he mumbled nervously, and finally said, "Obamacare."
So looks like a lose-lose for Republicans and conservatives. And I don't think the dems on that committee will be willing to talk much to conservatives, or grant them any respect.
Like, Brain-dead Harry Reid announced his dem Senate picks for the super committee:
- John Kerry, who never forgave the USA for Vietnam (though his time there was very short and comparatively uneventful, he's lived off anti-war sentiment ever since)
- Max Baucus, who was a leading pile-driver shoving socialized medicine down our throats
- Patty Murray, whom I'm not familiar with, but she's from Washington state, so probably believes human beings should leave the planet to the owls and fish.
So, not looking good, right? It depends on who the Republicans chose. But anyone who would actually work at making REAL budget cuts would just serve as counter-weight to these dem jerks from the Senate, who aren't about to "compromise" on anything. And I can only imagine which dems Pazzo Pelosi will chose from the House. Hmmm, let's see, that socialist from Vermont? (I don't want to give her any ideas.)
Oh well, we'll just have to vote all these creeps out of office next time. But there will be lots of stuff to undo.
Save the Republic.
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