CNBC - Washington Is Annoyed at Wall Street's Failure to Panic

[ihsv]

Incredible! They don't even try to hide it anymore.


I just got off the phone with a source on Capitol Hill who has spent the past few days trying to convince Republicans to vote for a debt ceiling hike.

He told me that the biggest obstacle he faces has been "market complacency."

"Frankly, a bit of panic would be very helpful right now," he said.

As he explained it, lots of people in Washington, D.C. expected that this would be a week marked by panic in the markets. Stocks would tank. Bonds would get clobbered. The dollar would do something dramatic. And all of this would help convince reluctant lawmakers that they had to reach a compromise on the debt ceiling.

"We were following the script from 2008. When the market collapsed after TARP failed, that spooked everyone enough to get them to fall in line. We thought the same thing would happen this week," he said.

Read the rest (http://www.cnbc.com/id/43943482)

[JoshLowry]

Curiouser and curiouser...

Was hoping this was an onion article.

[Brian4Liberty]

Nancy Pelosi made a speech about this subject yesterday. She kept saying that the stock market had been tanking for the past week, and that Americans had lost X billions of dollars because of the Tea Party, and we would lose all of our retirement money. It was quite an insane ramble.

[specsaregood]

Well at least they are admitting from where our politicians get their directions nowadays.

[sailingaway]

I think the markets will be much happier if we stop runaway spending than if we raise the debt limit.

[specsaregood]

I think the markets will be much happier if we stop runaway spending than if we raise the debt limit.

You think so? How many of those publically traded companies get govt contracts?

[sailingaway]

You think so? How many of those publically traded companies get govt contracts?

OK, correction. I think the markets would resettle into a sustainable growth and would have ups as well as downs if it thought we were getting our debt under control-- and our money would buy more. But when I say markets, I don't just mean the DOW which is skewed to make people care about the well connected companies just in the way it is identified.

[FreedomProsperityPeace]

I noticed last weekend that the news was really trying to talk down the markets. All the talking heads were speculating about how far they would drop on Monday.

[wannaberocker]

They dont even care anymore. They will keep repeating the market are gonna tanking even if they dont.

[acptulsa]

And now that they have reached a deal? Has anyone looked at it today?

ROTFLMAO!

Stock buyers ain't so dumb.

[libertyjam]

DOW -182.58 Slides below 12K to 11,949.9
S&P 500 -23.1 1263.8
NASDAQ -51.74 2692.9

[Bern]

Remember when Treasury Secretary Paulson threatened lawmakers with tanks in the streets and a complete breakdown of the socio-economic order if TARP wasn't passed and, after it was passed, failed to use it for the purpose which it was sold and the threats were shown to be hyperbole? Yeah. That was great.

http://ecx.images-amazon.com/images/I/51AFSBCPSFL._SL500_AA300_.jpg

[acptulsa]

I must say I am encouraged by this complete disconnect between D.C. and Wall St.

Maybe they're now divided and we can finally conquer them. They certainly do seem to have lost their prime ally...

If Wall St. doesn't have any faith that Washington's shenannigans can help them, then we're set to cause everyone in the nation to wake up and smell the coffee.

[NickOdell]

DJ is down 335 (2.8% or so) so far today. QE3 here we come.

[acptulsa]

DJ is down 335 (2.8% or so) so far today. QE3 here we come.

Our dollars will soon spend like pennies.

[White Bear Lake]

Down, down, down and the flames went higher.

[libertyjam]

Our dollars will soon spend like pennies.

Waddayamean? MY dollars already spend like pennies. When I was a kid, I could buy 6 candy bars with a whole dollar, today you can't even buy one.

[acptulsa]

Waddayamean? MY dollars already spend like pennies. When I was a kid, I could buy 6 candy bars with a whole dollar, today you can't even buy one.

No, no. They spend like my grandfather's nickles. They're not quite down to the level of the spending power of my grandfather's pennies. Yet.

But the year's only half over...

[anaconda]

Nancy Pelosi made a speech about this subject yesterday. She kept saying that the stock market had been tanking for the past week, and that Americans had lost X billions of dollars because of the Tea Party, and we would lose all of our retirement money. It was quite an insane ramble.

Why would she say this after she got her debt limit increase? I don't follow. I would think the last thing she would want is a stock market collapse.

UPDATE: My bad. These posts are from several days ago. Sorry. Nancy's speech was before the debt deal.

[anaconda]

Nothing short of A New Pearl Harbor in the stock market will bring us "together."

[acptulsa]

Why would she say this after she got her debt limit increase? I don't follow. I would think the last thing she would want is a stock market collapse.

UPDATE: My bad. These posts are from several days ago. Sorry. Nancy's speech was before the debt deal.

You know it's her debt limit increase, and I know it's her debt limit increase, but according to the MSM it's the Tea Party's debt limit increase. Sort of the same thing as her stock market crashes that weren't crashing.

We're really Through the Looking Glass on this one, folks...

[anaconda]

You know it's her debt limit increase, and I know it's her debt limit increase, but according to the MSM it's the Tea Party's debt limit increase. Sort of the same thing as her stock market crashes that weren't crashing.

We're really Through the Looking Glass on this one, folks...

I can see her spinning the debt deal as "The Tea Party's Debt Deal" but I'm not clear on how she would spin the debt limit increase as "The Tea Party's Debt Limit Increase?" Did you see or hear something that blamed the tea party for the debt limit increase? Thanks.

[Bern]

The market crash has to do with Italy and the Euro, not our debt ceiling.

[acptulsa]

I can see her spinning the debt deal as "The Tea Party's Debt Deal" but I'm not clear on how she would spin the debt limit increase as "The Tea Party's Debt Limit Increase?" Did you see or hear something that blamed the tea party for the debt limit increase? Thanks.

You're making distinctions that the vast majority of voters will never, ever make.

[Zippyjuan]

Most voters currently blame everybody for the mess surrounding the deal.

[DamianTV]

Curiouser and curiouser...

Was hoping this was an onion article.

No kidding! When Satire becomes real life, we have to deal with Satirical Laws.