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⭐⭐ Breaking News ⭐⭐ The Senate has just passed a procedural bill to allow debt ceiling to be raised with 51 Senate votes one time only; this bill now heads to President Biden; after he signs it, both houses will vote again to actually raise the debt ceiling by a specific dollar amount. This compromise between Democrat Chuck Schumer and Republican Mitch McConnell behind closed doors has effectivelSee more
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So here we are once again, I try and delicately approach a topic that is very much on the mind of the market but because it deals with politics will inevitably elicit extreme responses. Can we not this time? Is that a thing? The purpose of this post is to inform those who may be unaware of several time sensitive issues with the clock running down that will very much affect the market. I still beliSee more
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With #debtceiling , #cpi data, and other catalyst.. might be a sell off on small caps, momentum stocks, high valuation companies. Looking to see how the market ends and enter $TZA for a short term play. Still looking at $DIS See more
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This is a post I really really hoped I wasn't going to have to make. After narrowly averting a debt default in October I had hoped the month and a half they funded the government would be used quickly to address this issue long term. For those who are unfamiliar with this whole idea of a debt ceiling and why it's important here's a quick primer By law, Congress has to set a borrowing limit for thSee more
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This is a post I really really hoped I wasn't going to have to make. After narrowly averting a debt default in October I had hoped the month and a half they funded the government would be used quickly to address this issue long term. For those who are unfamiliar with this whole idea of a debt ceiling and why it's important here's a quick primer By law, Congress has to set a borrowing limit for thSee more
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It seems pretty clear what's been weighing down the market. Yesterday, after news that McConnell had floated a short term debt ceiling raise, the market staged it's biggest comeback since February 2020 coming from 1.4% down to finish up 0.46%. But what does this deal accomplish exactly, when might it be passed, and what does it mean for the future. So what does this accomplish? Put simply it'sSee more
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⭐ Breaking News ⭐ Mitch McConnell has apparently floated the idea of a short term debt ceiling increase. There's a vote scheduled today on a separate bill that would suspend the ceiling until December 2022 that McConnell had said he planned on filibustering. That appears to still be the plan. The proposal would only cover things through next month. Apparently McConnell is beginning to see that thSee more
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So with $FB /IG and the markets being down — don’t just instantly buy stock just because they are dipping. They could dip more. Just because they dip, doesn’t mean they will cause you to DRIP. Meaning — Having a strategy even when there’s a s*it show going on is key. If you buy stock just because it’s dipping could be panic buying. See: see panic selling. Because if the dip, dips even more — can ySee more
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I've read basically everything that's been written about this debt ceiling crisis. For those not familiar with the history of this issue it's been raised 78 times since 1960. There has been one other "incident" where things got this close to not happening. In 2011 the Republican led Senate tried using the debt ceiling to force the Obama administration into reducing planned spending. It got down to the last possible moment and a deal was reached. That didn't mean no harm was done. 2011 was the first time ever the credit rating of the United States had been lowered. Due to what the rating agency (S&P Global ratings) referred to as "dangerous political brinkmanship" the rating was lowered from AAA to AA+ in spite of the last second deal. It hasn't been raised back since. The same credit rating agency along with a second agency (Finch) is again talking about lowering the credit rating of the country due to this brinkmanship. "It would be unprecedented in modern times for an advanced G-7 country, like the U.S., to default on its sovereign debt," S&P said in a bulletin. Finch released a similar warning saying, “Fitch believes that the debt limit will be raised or suspended in time to avert a default event, but if this were not done in a timely manner, political brinkmanship and reduced financing flexibility could increase the risk of a U.S. sovereign default,” In an interview last Monday Senate Minority Leader Mitch McConnell, who has voted nearly three dozen times to previously raise or suspend the debt limit said, "There is no chance, no chance the Republican conference will go out of our way to help Democrats conserve their time and energy, so they can resume ramming through partisan socialism’s as fast as possible,” Without any Republicans supporting the bill to raise the ceiling, which McConnell has promised to block again today as he has 3 previous times in the last 2 weeks the only remaining shot is for Democrats to use a Senate rule known as budget reconciliation. This is a lengthy process and today Bloomberg is reporting that in order for this process to be completed in time it would have to begin TODAY. This is THE ONLY other possible route to pass this in time. I expect that if this timeline gains traction and we don't see the process started today that the market will start to panic. On August 8 2011, when a similar standoff over the debt ceiling drug right up to the deadline resulting in the credit downgrade, the S&P 500 lost 79.92 points (6.7%) to 1,119.46 points with all 500 stocks and ten industry groups falling, with the Dow Jones Industrial Average dropping 634.76 points (5.6%) to 10,809.56 points and the NASDAQ Composite falling 174.72 points (6.9%) to 2,357.69 points, contributing to approximately $2.5 trillion erased from global equity value. I've been sounding the alarm on this one for quite awhile. If you've been hitting snooze on this it's time to wake up. My question is simple. Do you believe that, once again, Congress will pull through with a last second debt ceiling bill in time to stave off disaster? #tcardizzle #debtceiling #congress ///// For instant updates on this and many other issues join us on Discord @ https://discord.gg/emntYaQkDu ///// Sources https://fortune.com/2021/10/01/credit-rating-agencies-warn-of-fallout-should-debt-ceiling-talks-lead-to-u-s-default/ ////// https://www.reuters.com/business/finance/sp-says-it-expects-us-congress-address-debt-ceiling-time-2021-09-30/ ////// Doomsday Clock for U.S. Debt Ticks, With No Congressional Plan https://www.bloomberg.com/news/articles/2021-10-04/doomsday-clock-for-u-s-debt-ticks-with-no-congressional-plan

Yes67.92%
No32.08%
53 votes Ended 10/05/21
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At the start of September I gave an outlook of the month that was pretty grim. Parts of it turned out basically like I thought and parts of it were surprising. What about October? I'm clearly not psychic but I see several important catalysts coming up this month that will go a long way in shaping the rest of the year. For anyone interested here's my October analysis of things to watch for. 1) TheSee more
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Just a quick update as it's a very important day in Washington. Today marks the end of the fiscal year and there are two absolutely essential bills that must be passed before midnight. The first is the $550 billion bipartisan infrastructure bill passed earlier this year by the Senate. This seemed earlier to be a sure thing but now it seems incredibly unlikely to pass. Progressives in the House aSee more
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Happy Monday everyone! This is put up or shut up week for Congress and as I've been posting pretty regularly about the debt ceiling crisis I thought I would take the time to lay out what's happening, what the options are, and what the timeline is. I've seen a lot of talk about the House passing the infrastructure bill this week but that seems to ignore the much more pressing issue of the loomingSee more
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Listen, yeah yeah I get it, another post about the debt ceiling. I thought this new development might drive home just how serious this issue is. Yesterday six former Treasury secretaries urged Congress in a letter to take quick action to raise or suspend the U.S. debt ceiling or else risk "serious economic and national security harm." The letter was signed by former Treasury Secretaries Henry PaulSee more
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I've made several posts as to the seriousness of the situation involving a potential government shutdown and the need to raise the debt ceiling before the country literally runs out of money. Late tonight The House of Representatives passed a bill that would both prevent a government shutdown and suspend the debt limit in a step toward preventing possible economic calamity. The package approved TuSee more
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I'm reposting this because I'm seeing a lot of bad advice being thrown out. I don't think it's intentionally bad I just think a lot of people are unaware of some of the dynamics at play. Until this weekend I had no idea we were as close as we are to a full blown economic collapse. Eviction Moratorium expired ✅ Enhanced Unemployment ended ✅ Debt Ceiling Restarted 8/1 ✅ Congress Failed to act✅See more
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