何鸿燊

Good News: It's Almost Over After Pelosi Says Congress Looking At "Two-Tiered" Deal



With 23 hours left until the Asian open (or, more importantly, 19 hours until FX trading resumes) and with today's round of talks now official over after a one hour meeting in Boehner's office with congressional leaders achieved nothing, it is becoming clear that the final debt ceiling outcome will be "no change" in spending or taxing habits and a temporary hike in the debt ceiling, so that the soap opera can be repeated again every three months... and again... and again...


and so forth for an "extended period of time" as "transitory solutions' become the new grand consensus.

At least we now know the phrase for complete, impotent incompetence in the Hill is: "Two tiered approach" which is how Nancy Pelosi called the last minute attempt at compromise.

Per The Hill: "House Minority Leader Nancy Pelosi (D-Calif.) said Saturday night that congressional leaders are considering a two-tiered approach to raising the debt ceiling and reducing the nation’s long-term budget deficit. Pelosi reiterated that she backs “a long-term extension” of the $14.3 trillion debt limit, putting her in line with the demands of President Obama and Senate Majority Leader Harry Reid (D-Nev.)." Alas this now appears to be a mirage: at best the Republicans will agree to a $200-300 billion extension to get the Treasury through for another 2 months (although at the delayed run rate, Geithner needs to issue $350 billion in debt right now just to catch up with where bond issuance should be). And then again until the general public gets so tired of this charade that they vote Obama out. Or so the republicans think. Or who the hell knows what they think. Or anyone else for that matter. It does appear however, that unless there is a definitive and consensual proposal on the table by 4 pm tomorrow when FX opens, the market will no longer be able to ignore what is happening in DC. Which brings us to the best news of the day: this whole farcical spectacle is almost over.

何鸿燊

There's a heat wave outside and it may be even hotter on Capitol Hill today as congressional leaders try to reach a bipartisan accord to avert a debt-ceiling crisis on Aug. 2. House Speaker John Boehner of Ohio says he wants to announce the outlines of a plan by 4 p.m. to reassure investors.

Why the rush?

何鸿燊

回复 6# tfmegatron

当然啦。 如果你账户上的100w美金纸币不知道购买力有几多了， 你难道不慌？