re: #294 Targetpractice

Personally, I’m curious as to when the financial markets will begin to freak the fuck out and the serious hoarding will begin in anticipation of a default. Folks have to remember that, at this point in ‘11, there’d already been several discussions between the White House and Congress, while the Senate had ongoing negotiations through back channels. Here we have nothing, no talks going on, no negotiations of any kind, just both sides sitting atop their walls and seeing who will blink first.

Feels more and more like the fucking Cuban Missile Crisis.

Institutional investors and hedge fund managers are pretty smart about these things. Big money also buys big connections, I would guess the wall street big money folks already know what the end deal is going to look like and have positioned themselves to make money from it. Even a good article from responsible news outlets will sometimes bury a quote from an economist near the end of an article saying default is very unlikely and positing several end deal scenarios. Try some Christian Science Monitor articles. But hysteria sells so all the regular news orgs are sticking with the doomsday scenarios because it’s what people want to hear. It’s not going to happen.