Stock futures tumble as budget stalemate sets in

[grantcart]

Source: MarketWatch

MADRID (MarketWatch) — Futures pointed to a bleak start for U.S. stocks on Monday, and global stocks also sank, as the budget stalemate entered its second week with no deal in sight. Weekend interviews with leading politicians and Treasury officials increased anxiety among investors that the nation could run out of money in 10 days.

“Expect every move from Washington to be watched with increasing scrutiny as the week unfolds, but if we don’t see any real progress, then next week has the potential to be nothing short of chaotic,” said analysts at Monex Capital in a note to investors.


Read more: http://www.marketwatch.com/story/stock-futures-tumble-as-budget-stalemate-sets-in-2013-10-07?siteid=yhoof2

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Boehner needs some excuse to stop this sham. I expect he will get it when the DJI hits 14,199

Follow through the day here

http://www.marketwatch.com/story/stock-futures-tumble-as-budget-stalemate-sets-in-2013-10-07?siteid=yhoof2

[Dan de Lyons]

1. Are Short Sellers Driving The Shutdown?

Ya gotta wonder if the Republicans are trying to drive stock prices down so they can buy at bargain prices. They can then resell when the world returns to normal. Contributions from the winners could pay for next year's elections.

I'm staying in, however far down it goes. I only sell when the Dow is high. It will return. If the shutdown artists do drive the prices down, invest, invest! If everybody invests, that will help keep the prices steady, you will get bargains you otherwise couldn't, and the short sellers will be hard put to cover their sells.

[leveymg]

3. In the long-run, Austerity by Default is not going to save things - but, there's a lot of money to

be made by speculating in the meantime. Be our guest.

"To be rich is glorious."

[James48]

2. Economic blackmail

"So, Imagine that the company you work for held a poll, and asked everyone if they thought it would be a good idea to put a soda machine in the break room. The poll came back, and the majority of your colleagues said “Yes”, indicating that they would like a soda machine. Some said no, but the majority said yes.

So, a week later, there’s a soda machine.

Now imagine that Bill in accounting voted against the soda machine. He has a strong hatred for caffeinated soft drinks. He campaigns throughout the office to get the machine removed. Well, management decides “OK, we’ll ask again” and again, the majority of people say “Yes, lets keep the soda machine.”

Bill continues to campaign, and management continues to ask the employees,
and every time, the answer is in favor of the soda machine.

This happens 42 times.

Eventually, Bill says “OK, I’M NOT PROCESSING PAYROLL ANYMORE UNTIL THE SODA MACHINE IS REMOVED”, so nobody will get paid unless management removes the machine.

What should we do?

Answer: Fire Bill and get someone who will do the job.

Bonus: Bill tells everyone that he was willing to “Negotiate”, to come to a solution where everyone got their payroll checks, but only so long as that negotiation capitulated to his demand to remove the soda machine.

[DCBob]

4. If the market really begins to tank the GOPers will cave.

but the problem is a great deal of economic damage could be done before they finally get this resolved.

[Mass]

5. No surprise. After Boehner yesterday on This Week, I was expecting this. However, we will need a

lot more before the corporate branch of the Republican party becomes frightened and tell Boehner to do his job.

[dotymed]

6. Of course TPTB will profit handsomely.

Just as they do with every disaster they create.

I am sure that since taxes on dividends are much lower than on labor, it makes sense to their greediness to artificially manipulate stocks rather than work for a living.

Just another example of govt. for and by the wealthy.

[lonestarnot]

7. Oh look it's the beginning of the chaos party.

[Javaman]

8. This is what will force the repukes to vote for the budget...

when their billionaire investors start seeing losses due to the shutdown, then they will strong arm the repukes with a threat of no contributions to change their minds.

[Sunlei]

9. a tiny bit of my bank savings in stock so I can earn something above bank rate of .01 !!

Thanks a lot Republicans for your economic terrorism!

Can't even open another regular bank savings account in another country that pays 2%++ interest, you have to be a resident citizen! FU republicans and your banks!!

/signed an angry American.

[ffr]

10. Exactly what the Tea-hadists wanted all along

A manufactured slowdown in the economy, begging for the failure of America.

Bubba couldn't have nailed them on that any better.



Bill Clinton: GOP “Begging For America to Fail”