Washington will push this to end of October
Posted: Tue Oct 08, 2013 4:44 pm
From one of the many research reports I get each day:
"We have thought that Washington could go past October 17th (Treasury's declared
"X-date") without resolution of the debt ceiling standoff. A new estimate from a
Washington think tank suggests that the X-date is somewhere between October 22 and
November 1 which suggests to us that it is even more likely than we thought that the 17th
will come and go without a deal."
All this "government shutdown" crap is ridiculous. The government is not shut down and all the workers will get paid. We will also end up paying all of our debts. The U.S. is eventually going broke, but not for a few more years.
My SWAG is that the stalemate in Washington will go on until the end of October. After it is over, regardless of the outcome or who "wins", there will be a significant rally in the markets. All of the money that has been pulled to the sidelines will come pouring back in and the shorts will have to cover quickly or be killed.
Oil & gas prices are holding up quite well. Global crude oil markets are tight and likely to get a lot tighter. Our favorite companies are going to report very strong 3rd quarter results and the outlook for Q4 is even stronger.
Hang tough my friends, this too shall pass.
"We have thought that Washington could go past October 17th (Treasury's declared
"X-date") without resolution of the debt ceiling standoff. A new estimate from a
Washington think tank suggests that the X-date is somewhere between October 22 and
November 1 which suggests to us that it is even more likely than we thought that the 17th
will come and go without a deal."
All this "government shutdown" crap is ridiculous. The government is not shut down and all the workers will get paid. We will also end up paying all of our debts. The U.S. is eventually going broke, but not for a few more years.
My SWAG is that the stalemate in Washington will go on until the end of October. After it is over, regardless of the outcome or who "wins", there will be a significant rally in the markets. All of the money that has been pulled to the sidelines will come pouring back in and the shorts will have to cover quickly or be killed.
Oil & gas prices are holding up quite well. Global crude oil markets are tight and likely to get a lot tighter. Our favorite companies are going to report very strong 3rd quarter results and the outlook for Q4 is even stronger.
Hang tough my friends, this too shall pass.