Tuesday, July 26, 2011

Where are we now?

After a night of speeches from President Obama and Speaker Boehner,  this is where we stand:

The President - Conciliatory.  Appealing to our need to come together as a nation.  Desiring of shared sacrifice.  Stirring speech.  The President still wants a balanced approach.

The Speaker - Typical mud slinging,  fear mongering,  finger pointing,  lying.  Continual reference to how deep cuts to federal spending will lead to more jobs made me laugh out loud. The Speaker still wants no tax increases and deep budget cuts.  The filthy rich win,  middle class America gets shoved over a cliff.

American people - Fed up.

Securities markets - still trusting of Washington's ability to come together.  The futures point higher as I type,  so the market appears headed to a slightly positive day.

My take - we're screwed.  It'll all come to a head in a huge crises early next week.  I'm getting short the market.

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