Debt Ceiling shouldn't be Raised

If the President and Congress are serious about a balanced budget then the Debt Ceiling which could be reached by the end of the month shouldn't be raised.  Think about it everyone do the banks let you keep on borrowing money (credit cards, loans and etc) until you are a million dollars in debt?  No they will cut you off well before you ever get to that number.  So here we have the Federal Government who over the past four years have run up Trillion Dollar deficits each year but there is nobody that can cut off the Government from spending more than it takes in.  The problem is nobody in Congress or the President has the backbone to say enough is enough and do what is right.   When the time comes, which will be much sooner than most think, the US will undergo a similar process that is now occurring in Greece and Spain in which other countries will dictate how the US will be bailed out.   

Downgrades Coming

Fitch finally gets some balls and warns US to get it's deficits under control or it will downgrade the US.  Funny how this comes out the day after the election isn't it.  It's not a coincidence folks.

Please Vote

Even if you don't like either candidate at least vote for someone.  My belief is if you don't vote then you shouldn't bitch about who is president.

Why the US Stock Market is a ticking Time Bomb!!!

For those that follow the stock market a trader that worked for Rochdale Securities bought 750 million to 1 Billion Dollars in shares of Apple last month.  Keep in mind Rochdale only had 3.44 Million of capital at the end of 2011.  So one trader bought 750 million to 1 billion dollars of  Apple on margin leveraged over 200:1
    
Meanwhile Apple has dropped considerably the past month so now Rochdale is in big trouble because they have a large loss on the books and are asking for a bailout.  One has to wonder how many other trading firms out there are leveraged big time to the upside in the market.  This market is a ticking time bomb and when it explodes look out below.       

Romney and Obama Tied going into the Election

Latest Rasmussen Poll on Sunday shows both Romney and Obama with 49% each heading into the election on Tuesday.  Should be an interesting day based on the Electoral College which could go either way at this point.  It's certainly possible we could see a repeat of the 2000 election.

Rapidly nearing Debt Ceiling

Here it is based on numbers for the end of October.  Right now we are only 133 billion away from reaching the Debt Ceiling of 16.394 Trillion.  This could easily be reached by the end of the month.

5 Days to Election Day

Right now Rasmussen has an extremely tight race as 8 states could go either way.

Slightly Romney:  Colorado, Florida, Iowa, New Hampshire, Ohio and Virginia
Slightly Obama:  Nevada
Tie:  Wisconsin

Naturally if Romney were to take all of the slight leans he would take the Electoral College.