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I'm not sure how much but I'm really not looking forward to it. Those who want a default are pretty likely to be poor and have 0 investments.
Actually I own numerous properties leased to the federal government and looking forward to a default. I'll go months without rental income, but thats ok because the nation will be getting their books in order for long budgeting which will result in long term profits. If you think default isnt helpful, you are wrong.
If we don't get the debt ceiling raised we will have another Black Monday.
no, not really. Do you really think people are going to dump GE, or AIG stock, or any other stock because another group of people cant get their books in order? In fact you might actually see the stock market skyrocket as people exit the bond market in droves. Its why its as high as it is now, because there is NO WHERE else to put it currently.
I'm guessing between 10% and 15% of my portfolio maybe 20% will be POOF and my business will hit a flat spot!
Come to the table GOP... show you can negotiate not just say NO NO NO NO !
the republicans ARE at the table. they HAVE negotiated in good faith. obama is the one that keeps changing the rules, and resetting the bar. the republicans even put an increase in revenue on the table to the tune of $800 billion, and obama said he wanted $400 billion MORE.
the republicans have sent a number of fiscal bills to the senate, and reid has done NOTHING with them. the budget that the republicans sent up is still waiting for the democrats to put it up for a vote. if you want to look to the people that are screwing things up, look at the democrats.
Quote:
Originally Posted by HappyTexan
We lose no matter what they do. Do you think the debt is going to disappear magically overnight because they've signed a half-assed, barely puts a dent in the deficit bill ? And if they don't sign do you think we're better off with a $2.5 trillion raise in the ceiling (what Obama wants) ?
Get a grip. None of them in DC are making the HARD cuts we need. We are $1+ trillion OVER what we spend per year. Do any of you think shaving $300 billion will make a difference ?
we both agree on that. i also want to see huge spending cuts. we can start with 15% across the board to get things going, but each year they are going to have to get bigger. the size of the federal government needs to be substantially reduced, like say by 50% at least.
Quote:
Originally Posted by cruitr
Please enlighten us. How does the stock market work?
there are triggers in place to prevent a huge crash in the market. JRR listed them in his post.
Quote:
Originally Posted by Donna-501
How much can it drop in one day?
probably the most it can drop in one day would be on the order 20-25% of the market value before the triggers kick in and stop trading for the day.
Quote:
Originally Posted by JRR
There is a set of circuit breakers depending on the amount of the drop and the time of the day. For the NYSE and NASDAQ, it starts with a one hour halt if the drop is 10% of the Dow before 2 PM and goes as far as a closing of the market for the remainder of the day if the Dow drops 30% any time of the day or 20% after 2 PM.
nice post with good information.
Quote:
Originally Posted by Donna-501
If we don't get the debt ceiling raised we will have another Black Monday.
well yes and no. with the triggers in place the market can lose about 25% of its value at the most before trading is suspended for the day. what we might see is a black week where the market loses a total of 50-60% of its value.
but also understand that if that happens, there will be bargains aplenty in the market by the end of the week, and the next week you could see a bull market surge with a decent portion of the value lost returning.
I'm guessing between 10% and 15% of my portfolio maybe 20% will be POOF and my business will hit a flat spot!
Come to the table GOP... show you can negotiate not just say NO NO NO NO !
don't you know with all the printing of money this administration has done. you've lost 20% OF YOUR money ALL READY. they print money they want tax hikes and more spending. we are better of with no deals, at least we will not be spending more the what we take in makes lots of sense to me!!
I have to say Boehner is one of the best speaker I have seen in a long time... he is smart and doesn't BS around and speaks with great care... smart guy... I wish he ran for president...
There is a circuit breaker that suspends all stock trades should it dip too fast too much... and 20% is not going to happen in one day... even then if it drops rapidly, it will also start trading "slowly" as well before it even reaches that percent...
I have to say Boehner is one of the best speaker I have seen in a long time... he is smart and doesn't BS around and speaks with great care... smart guy... I wish he ran for president...
you have got to be kidding? He is nothing but a whining brat who is bowing down to the Tea party members instead of holding firm to the ideas of the GOP.
I'm guessing between 10% and 15% of my portfolio maybe 20% will be POOF and my business will hit a flat spot!
Come to the table GOP... show you can negotiate not just say NO NO NO NO !
oh and now it is all the Republicans and Boehner's fault? Let's just raise the ceiling, add new taxes and don't show us any plan (in writing) to make any cuts. That is the way Pres Obama.
Nita
ps: where are you S6S, you haven't come back to explain or defend your posting?
Location: Currently I physically reside on the 3rd planet from the sun
2,220 posts, read 1,877,427 times
Reputation: 886
Quote:
Originally Posted by Lithium
God, what an idiot. This is as stupid as Limbaugh saying "THE REGIME" every twenty seconds. Atleast he was Democratically elected, unlike the last guy...
Excuse me?
Are you saying if the president won't compromise, the congress is just supposed to roll over and give him anything he wants.
As for your reference to Bush, yea, they should have addressed the national debt years if not decades ago but what does that have to do with this? If anything you might forgive Bush because he probably didn't understand the issues, but I don't believe Obama has that problem.
and you call me an idiot?
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