Sequester day is here

[.blank cd]

Anyone else see the Dow closed yesterday at the highest level ever?

Maybe we could use some more sequestrations.

[BanginJimmy]

If you understand that not every government worker is making more than their private sector equivalent, why did you make the following statement?






It's a fact the congress could not agree on an alternative to sequestration (at least not yet), but this discussion is not off topic. The effects of sequestration are very important when deciding whether to make a deal or to let sequestration happen. Many politicians are saying sequestration isn't a big deal and hence, why bother compromising. If you assume every single government worker is overpaid based on an average, you are implying furloughed employees don't deserve much sympathy, but that is not the case. To be fair, I do believe the Obama administration is making it sound overly apocalyptic. We are not politicians on this forum and thus, we have nothing to gain from echoing the exaggeration coming from both sides of the political arena.

I realized I painted way too broad of a brush with that comment so I got more specific in a later post. Obviously a govt worker on day 1 isnt going to make more than the guy doing the job for 20 years. He will make more than the private sector worker on day 1 though.

We are completely agreed on the rhetoric. GOP had to have known Obama was overplaying his hand and there was little to no chance of losing the PR war when they decided to keep their had stance on the cuts. I heard today that the House has passed a CR that actually cuts even more out of the domestic side. Military is untouched in their CR.

Anyone else see the Dow closed yesterday at the highest level ever?

Maybe we could use some more sequestrations.

I was actually about to bring this up. I was listening to 'Taking Stock' on Bloomberg on the way home from work. The analyst they were talking to basicly said the record is insignificant. The fed has dumped so much cash into the system, the DOW would need to top 25k tomorrow to have the same relative strength as it did before the collapse.

[Browning151]

Anyone else see the Dow closed yesterday at the highest level ever?

Maybe we could use some more sequestrations.

Yeah, stock market at a record high while the economy is teetering on the verge of negative growth and unemployment is "holding steady" ~ 8%. You're smart enough to put the puzzle pieces together and realize why this isn't the great news that it's being presented as.