General Discussion

JDPriestly

(57,936 posts)

69. We are a society. We all live off the same economy, the same practice of exchanging value for work

Fri Oct 11, 2013, 01:20 AM

Oct 2013

and for value. We all live off others. Unless we live in the wilderness somewhere, collect berries that just grow without cultivation and eat animals that cross our paths.

Everybody lives off others. There are no exceptions. Ayn Rand was simply wrong in her view of the world. The biggest mogul, the titan of industry, needs other people to sell his products to and to buy products from.

Since everybody lives off others in one way or another, then everyone should be afraid. Is that your point?

The problem with the right-wing philosophy is that they see men as islands. They think that a human can live without the other. Cant' be done unless you go off in woods. And if you do that, don't fall. Don't get sick. Don't lose your way. Hope the weather stays good. You may not survive for long.

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Fidelity has sold all of its short term T-Bills [View all] Gothmog Oct 2013 OP

Brinkmanship... Junkdrawer Oct 2013 #1

That is anyone's guess. roamer65 Oct 2013 #10

Rachael mentioned this on her show. nt BumRushDaShow Oct 2013 #2

I heard about this on her show and then went and found the article Gothmog Oct 2013 #53

yikes flamingdem Oct 2013 #3

Rachael said they were the largest holder of mutual funds. BumRushDaShow Oct 2013 #7

Oh! Well that's better but.. flamingdem Oct 2013 #15

The cost of borrowing is going up Gothmog Oct 2013 #21

They don't hold them... A HERETIC I AM Oct 2013 #33

Interest on the debt is safe. But return of principal is a legitimate concern. Loudly Oct 2013 #4

Well, there you have it Brother Buzz Oct 2013 #12

Can you explain to the financially challenged flamingdem Oct 2013 #17

The dollar amount of your investment in Treasury notes (bills) is the principal. Loudly Oct 2013 #20

The friggin' principal is a mirage, there is little to no worth underlying it, jtuck004 Oct 2013 #28

Nonsense. A HERETIC I AM Oct 2013 #37

Fine. Show me the underlying worth. In 1960, milions of people working, producing, jtuck004 Oct 2013 #42

There isn't a single thing you are complaining about... Loudly Oct 2013 #45

That's too shortsighted. It would be like supporting an insurgency by giving them bullets jtuck004 Oct 2013 #66

True. JDPriestly Oct 2013 #70

Don't talk shit about principal. Loudly Oct 2013 #38

Of course it is. And do you think the Mi$$ RobMe crowd gives a flying rat's ass about them? jtuck004 Oct 2013 #44

Give me that $1,500 in hindsight. Loudly Oct 2013 #47

Why would one want to willingly participate and profit from the destruction of their jtuck004 Oct 2013 #64

We are a society. We all live off the same economy, the same practice of exchanging value for work JDPriestly Oct 2013 #69

No - we live with others. Only some of us live off of others. jtuck004 Oct 2013 #73

Why thank you Loudly flamingdem Oct 2013 #34

That is an incorrect statement. For any treasury security shorter than 2 years... A HERETIC I AM Oct 2013 #35

You are describing only one variety of Treasury instrument. Loudly Oct 2013 #40

You clearly are not very well versed on this subject. A HERETIC I AM Oct 2013 #46

Again, I think you are slicing and dicing a portion of the debt. Loudly Oct 2013 #48

Again, don't profess to school me on this subject. A HERETIC I AM Oct 2013 #49

You are trying to make the case that zero coupons dominate the landscape. Loudly Oct 2013 #50

Oh, for fucks sake. A HERETIC I AM Oct 2013 #52

My retirement accounts are with Fidelity Yo_Mama_Been_Loggin Oct 2013 #5

Have you sold? n/t A HERETIC I AM Oct 2013 #13

So is mine, but will be defined benefit. Did you have it in a 401K? freshwest Oct 2013 #22

I have both a 401K and a managed IRA Yo_Mama_Been_Loggin Oct 2013 #24

Okay, I've never had either of those. Just the defined benefit. It kicks in if everyhing doesn't go freshwest Oct 2013 #26

You made a bundle this year if you lost $15,000 since this started. dkf Oct 2013 #29

Yes Yo_Mama_Been_Loggin Oct 2013 #30

Well it wasn't about to go up up up forever. dkf Oct 2013 #31

October coincides with a natural downturn built into the market cycle. Loudly Oct 2013 #41

I love nightmare scenarios in the morning nadinbrzezinski Oct 2013 #6

I'd bet the Federal Reserve bought most of them. roamer65 Oct 2013 #8

I expect that too, nadinbrzezinski Oct 2013 #11

Up or down in direction? flamingdem Oct 2013 #19

Aaaand we're a little bit closer to fucked. BluegrassStateBlues Oct 2013 #9

They're all doing it nt TomClash Oct 2013 #14

Wrench your eyes off the Orange One + the rest of the clowns and watch these stories riderinthestorm Oct 2013 #16

I hear the sound of Ben Bernanke's helicopter, I do believe. roamer65 Oct 2013 #18

Someone will benefit financially from this crisis; hope kiranon Oct 2013 #23

Koch Bros are Shorting Stocks. They tank the country to make a killing Katashi_itto Oct 2013 #32

But the Kocks said they're not doing this... blkmusclmachine Oct 2013 #36

.... Katashi_itto Oct 2013 #39

With his Black swan fund Eric Cantor bet against the US in the last debt ceiling fight stuffmatters Oct 2013 #71

OP title is misleading...that's not what the article says antigop Oct 2013 #25

The title of this thread is the same as the article quoted. Gothmog Oct 2013 #54

no, the title of the referenced article is: Fidelity sells short-term T-bills antigop Oct 2013 #56

Everybody needs to be aware of the Republicans talking openly Warpy Oct 2013 #27

They sold then because yields went up Pretzel_Warrior Oct 2013 #43

and the first canary in the coal mine DonCoquixote Oct 2013 #51

I maintain, if the halfwit repukes don't give in, there will be a massive sell off late tomorrow. Javaman Oct 2013 #55

no sweat, folks--PIMCO's buying 'em. lastlib Oct 2013 #57

Exactly. I was coming in to post this. The company is highly respected and they do not seem too seabeyond Oct 2013 #59

interesting. Pre-edit title of OP was correct. Why did you edit it to inaccurate? magical thyme Oct 2013 #58

I called attention to the misleading title in post #25 antigop Oct 2013 #60

my point is that the OP initially used an accurate title magical thyme Oct 2013 #62

Yes, Virginia, Wall Street is shorting America. malthaussen Oct 2013 #61

I am 69 and have all my IRA in Fidelity Treasuries Only MM pangaia Oct 2013 #63

No. A HERETIC I AM Oct 2013 #65

Whew. Thanks pangaia Oct 2013 #67

Think of it. Only the Republican members of Congress know how and when this artificial crisis JDPriestly Oct 2013 #68

Cantor got away with it last time stuffmatters Oct 2013 #72

I've been saying this for days. Ilsa Oct 2013 #74