6:57 pm (Hawaii) While I was a) working through the morning, b) sleeping in the afternoon after being up all night, c) driving across town to stores and a mall ... the gang at Capitol Hill accomplished a whole lot.
A whole lot of nothing. So the market was largely indecisive and there was not a whole lot of action. I saw AAPL move higher and BIDU sell off a bit. I saw silver get clubbed below 40. But generally, it was a lot of sitting on the sidelines for the most part as everyone waited on America's mercenaries to get something done about this debt ceiling crisis.
All I knew as I went about my voyage today is that the talk radio guys weren't happy. Republicans weren't happy. Dems weren't happy. Nobody was happy. I got to the Apple store at Ala Moana and checked in. The vote on the latest bill was delayed. Boehner wasn't going to get his numbers.
The thing is, it doesn't really matter. Deciding what brand of bandage to put on a fatal disease is mind-numbing when they can't decide for days and weeks and months. The real issue is how to completely change course, to slice off the toxins that plague the body of America and move forward in a healthy way. Delaying things just allows those toxins to kill more of the body. Why do we as a country have such a hard, hard time just doing that? We know the ramifications of stalling this out. Or is that just fluffy rhetoric anyway?
More and more, it seems likely that the invasions of Libya and other Middle East/North African energy sources is all about taking what we want. Again. If the little guys don't like it, tough. We've stiffed the world many times before — six defaults, including three in the past century — and left dollar-holders sucking wind, holding the bag.
So my little trek around town has come to a pit stop with dinner at a mall. I'm left to ponder what happens with gold and silver, the dollar and our economy. How will my friends get new jobs? How will America stave off a Depression? Frankly, if I had some land out in the country, I'd be just fine learning how to grow vegetables and raise chickens. I don't need a whole lot to be happy. The elephants and donkeys on the Hill can posture and wheeze all they like. The older I get, the simpler my vision has become.
The more they screw up, the cheaper precious metals get, and the more I will stack. The more I prepare, the less I have to fear. Fresh eggs, anyone?
Journeyman Pictures: Consumed (July 27)
Keiser Report: Ghettoification of America (July 28)
> Extended 25-minute report on gold, silver, etc
CNBC: Barratt: Rise in gold is limited (July 28)
CNBC: Cramer on weathering the storm (July 28)
CNBC: Bank of Ireland takeover (July 28)
Bloomberg: Sauer says Groupon IPO to be delayed by SEC review (July 28)
CNBC: What's the matter with banks? (July 28)
RT: Schiff: 'Debt ceiling is a charade' (July 28)
CNBC: Mobius: USD-Asia to move lower (July 28)
CNBC: A China crisis? (July 28)
CNBC: Fast Money final trade (July 28)
The Young Turks: Extended clip (July 27)
chessNwine: Stock market recap (July 28)
endlessmountain: The Silver Log (July 28)
endlessmountain: Insane, savings, debt ceiling (July 28)
endlessmountain: Confederate inflation (July 28)
positivemoney.org: How banks make so much money (July 27)
bullorbearreport: Metals rally continues! (July 25)
King World News: Robin Griffiths (July 28)
Reuters: Moody's says it may downgrade Spain (July 29)
CNBC: Europe stocks called sharply lower on US debt fears (July 29)
Reuters: China news agency lambasts US for debt crisis (July 29)
CNBC: Debt crisis, buying opportunity for the Chinese (July 29)
AP: Asian stocks lower amid US debt nervousness (July 28)
AP: Economy growing at slowest pace since recession (July 28)
AP: Republicans put off vote on debt limit (July 28)
CNBC: US downgrade good for dollar? Don't rule it out (July 28)
Turd Ferguson: (pm) 1650 and 42 (July 28)
Turd Ferguson: (am) Same old, same old (July 28)
King World News: Hathaway: Institutional, sovereign buys to cause gold spike (July 28)
King World News: Russell: Gold is showing price objective of $1,880 (July 28)
Le Fly: There will be more than blood - there will be recession (July 28)
Le Fly: Yearning for a fresh bubble burst (July 28)
Golden Truth: Obama's main 'jobs' man moves more jobs to China (July 28)
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