I sit back and think to myself TGIF!
What on earth are these credit markets doing or what signal are they really sending to the world?
You can't manage your debts, you can't manage your country, Socialism DOES NOT WORK (wake up America we are headed right for a bullseye on this ourselves) and yet instead of forcibly taking a stance, a potential 5 month reprieve is being talked about? (by the way Dick Greenberg... TOLD YOU lol)
Why will anyone repay debt when there are no REAL consequences???
Better than that, is the fact that this "possible" and very likely extension is now costing all of us in the US more money to gt a loan as our rates are taking yet another hit on no news except Greece?!?!
Todays opening bell has reduced the FNMA 3.0 coupon by nearly 40bps (so between .375 to .50% addl cost to your loan from yesterday!
WOW.
Here is todays data costing us all money... Thank you Socialism maybe we are all created equal but that does not mean we all work the same or solve the same problems or have the same drive or have the same education or take the same risks... Sick of this and Fed up...
There is nothing to note on the Economic Calendar for today. The market has had a bumpy week with the constant back and forth Greece negotiations. Next week’s deadline for making a payment to the IMF is rapidly approaching and leaders have yet to make a compromise. Treasuries are softer this morning following reports of an offer from the Greek credit group to extend the bailout package by 5 months; another attempt to stall the tough choices. The curve has bear steepened
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