Debt, Veterans and the Non-Essential, Republicans

Drama Abandoned Land  ... HDR

The drama being played out in Washington and across the press spectrum reminds me again of manufactured drama, so I re-tell myself, avoid the excitement.  But anecdotes and humor abound and that’s where, head in hands, I have to bring “au moins” some words to blog.

  1. Open Air Memorials
  2. Essential vs. Non-Essential
  3. Debt Ceiling
  4. The Unthinkable
  5. Killing Jesus
  6. Market Reaction(s)

In the context of spin fatigue and pissing matches, Bill O’Reilly perfectly times the release of another best-selling book, with a catchy title. Killing Jesus has just knocked Miley off page 1, that alone is a respectable feat of journalistic prowess. But if Bill O’Reilly has managed to push sex back to page 3, maybe he’s really English…

At several of the open air monuments, the essentials are closing sites. The Vietnam War Memorial in NY and Washington. They closed a wall? Why does the US Government even have employees that are non-essential? I’m sure they were hired as essential. How hard it must be to go to work every day bearing that cross, non-essential. Is there a social safety net for the non-essentials? Does the constitution have something to say, Bill?

When publicly traded companies restructure often the value of their company rises, shareholders rejoice, and hope is born anew. I’m hopeful. Maybe government restructuring is exactly what USA Inc. needs. Non-essentials could be offered a package, reclassified, or put out to pasture. As for the CEO Obama and the Chairman Boehner, well, they’ve had to make some tough decisions, bravo, keep your bonus. But just one thing, don’t forget about that pesky little debt ceiling on the horizon, you’re on the hook for $440 Billion by November 14th. I expect you’ll deliver on time, that nearly worthless dividend you promised…

The unthinkable might just be thinkable. Default. Nobody really knows what the fallout would look like. Journalists looking for analogy speak of a Lehman moment, though that’s probably a timid picture. The market is pumping up the VIX and traders are hedging, but not as much as you might expect. Pundits come out of the dark speaking of a 0% chance of default and Joe six-pack sleeps soundly. The truth is, it’s a bit dicey to be trading long, and hedging is expensive. Overall there’s a sense of indifference and anyone with a sense of the risk associated, just can’t fathom it.