Nalod wrote:Shut down happend twice under clinton. over 20 days I recall. No big deal.

Don't believe we go into default either. Twice the deadline has been extended. Its treas secretary to make a principle and interest payment and he can.

Im not buying the hype.

Looking for that one stock? Thas briggys job.

Maybe he can "look smart" on one for you. Me, I've been 39% in cash for two months now and thinking its just a good time to buy some nice cheap banks. Gotta be patient.

Long term don't believe we are gonna be china's bitch. Think its like a jet rocket on the back of a model "t". Can't turn it. US econ is very resilient. Don't cry cuz we don't make T-shirts here anymore. We make Chips, Cars, Jet, and lots of high tech stuff.

Im not addressing unemployment and don't hammer me for it. IM looking at whats working and the M&A activity is very high right now and companies are making a lot of money. Media is focused on housing, but look at consumption and income levels. They climbing.

Investing is not easy but its not just trading either. trading is a different animal altogether and Im not very good at it. Look at IGOI, I did more than double but that **** was on a 5x tear and its long term thesis is very good then the traders whran it the hell up left the building. Im an investor. I build not trade. Im not complaining a bit. Briggs im sure will get upset with me as he usually does when he thinks im calling him out, and I don't. I just like to know when he leaves the building.

I don't "look smart" on that one, but it happens.

Jones, Im just not buying the media hype its the end of the world.

Thanks for the insight. I tend to be disciplined. I held tight in 2008 and even added to my positions in late '08 early '09. I've got a mix of index funds and value picks + the occasional BRIGGS flyer. I'm sitting on a bunch of cash right now, waiting to see how things pan out. I admit the default thing has me nervous. I recall that congress failed to pass the Tarp legislation in '08 and that's when the market really tanked, so they had to come back and pass it quick.

If they can't come up with a deal soon, I'm looking for a similar scenario where congress has to rush back to pass something quickly. I don't think it's the same as the 90's shutdowns. We were in better shape back then, and the shutdowns weren't brought about by a failure to raise the debt limit. Is Moodys "hyping" anything when they say they might lower the US credit rating?

Nalod wrote:Moodys is crap. Not happy these ass clowns who miss every debacle is making our coutry its bitch.

Not big on index funds as the market makes plenty of mistakes and index reflect it.

Freaking BAC is too cheap to pass up here.

Its not gonna 5 bang here, but its about the long term.

If your gonna index, is it for a "trade" and if so, do you buy leveraged offerings?

What makes you so sure BAC is cheap here?

I am not a fan and if there is going to be another big bank collapse in this country I would put them at the top of the list.

Not much to talk about Hoopwise but he is like family on the UK.

I think they are playing Russian roulette with the debt rating and economy and it's not good.

Viewpoint
Standard & Poor’s Downgrades Itself
By Joe Klein Saturday, August 6, 2011

Given its fabulously incompetent and quite possibly corrupt performance in the events leading up to the 2008 financial collapse, it takes a fair amount of chutzpah for Standard and Poor’s to downgrade US treasuries, especially after the debt ceiling deal proved that back-against-the-wall compromise can still be had in American politics, however unsatisfying the deal.

This mystifying move comes after several weeks of the bond market sending the exact opposite signal: U.S. treasuries had been trending upward in price (and therefore downward in yields), even with the threat of default looming. The bond market was reacting to two basic facts that still obtain:

1. Given the wobbles in Europe, U.S. treasuries remain the safest investment in the world.

2. the bond market, more precise than many commentators, sees a double-dip recession as a much greater threat than the phony political crisis created by the Tea Partyers.

These two basic facts render the S&P judgment ridiculous. But then, I remain amazed that anyone continues to take S&P, or Moody’s, seriously after both agencies granted AAA rating to Collateralized Debt Obligations (CDOs) that were chock-full-of crap mortgages, thereby helping to precipitate the 2008 financial collapse. Indeed, I’m amazed that in our grand and glorious free market system, some dashing entrepreneur hasn’t come along and launched a competing ratings agency without all the baggage.

Read more: http://swampland.time.com/2011/08/06/u-s-downgrades-standard-and-poors/#ixzz1UM6smAK6