4 p.m. deadline? READY, FIRE, AIM! Staffers pulling all-nighters

[Raven]

to come up with a solution to the debt ceiling stand-off? Come on, folks. Nothing any good is going to get done this way. Pass a clean bill, get down to work and let the American people have some input over the next 18 months. Cut the backroom negotiations and overnight bullshit. I am disgusted with the whole crowd.

Anyone who has ever written a paper in the wee hours of the morning with no sleep know what crap comes out. Anyone who has ever crammed for an exam knows that everything leaks out of your brain within 24 hours. I know, as a lawyer, that when you try to draft a document under these circumstances you get gibberish.

[RKP5637]

1. All the money, all the resources of the gov., the incompetence of many

elected officials and we cram for the exam/paper. I'm glad you posted this, I was saying something similar yesterday (not on DU).

It's absolute BS that this is the way the US has come to conducting business. Same here, I'm disgusted with the whole crowd.

And the rest of the world is supposed to have faith in the US? We have a failure in our system, elected officials and/or the voting electorate. Sadly it's some combination, but what I find very concerning is the collective ignorance of this population.

In the corporations I've worked in most of these guys would have been out on the street now looking for a job, fired for pure incompetence.

And this is in no way an Obama bash, I'm just looking at the entire episode collectively. What we are seeing IMO is the failure of the US to be able to conduct business.

[Poll_Blind]

2. +1 And sometimes far, far worse than gibberish. I still remember Conyers from Farenheit 9/11....

...talking about how nobody had read the entire Patriot Act before it was passed. What a nightmare.

PB

[elocs]

5. Feingold was the lone vote against it in the Senate, so maybe he read it.

But where is he now?

[OmahaBlueDog]

3. 1:55 EDT. The Asian markets open in 2 hours

We'll see.

[Ruby the Liberal]

6. FX opens at 4. Asia opens at 6.

Watch the USDXXX indexes when the FX opens and you will get an idea of what Japan, Shanghai and Hong Kong are going to look like.

:popcorn:

[OmahaBlueDog]

12. 9 minutes until markets open. Still no sign of a breaking deal.

Will we get downgrades tomorrow from S & P and Moody's?

[Ruby the Liberal]

13. S&P said over the weekend "50/50 chance by Friday"

USDJPY is looking rather wonky out of the gate.

[Ruby the Liberal]

15. OBD - BI is covering the open if you want to watch. Starts in about 20 min or so.

http://www.businessinsider.com/live-market-coverage-morning-of-july-25-2011-7

[OmahaBlueDog]

16. At 12:22 CDT, the markets are staying pretty calm

Gold and the Swiss Franc are getting some action, but no massive selloff.

[stevedeshazer]

4. You're exactly right.

Been there. Seen that.

There's no good end to this ridiculous standoff. I wish both sides would shit or get off the pot. We're screwed if they don't.

[RKP5637]

8. The theatrics are getting ridiculous. How can anyone really have faith in

the US with this nonsense going on - it sounds/looks like a schoolyard playground. Collectively the US sounds/looks/acts less and less like a world leader.

[scarletwoman]

9. Aren't we also screwed even if they do "get off the pot"? Aren't we plenty screwed already?

Nothing I've heard from either side makes we want to root for one of them. It all looks like "heads we win, tails you lose" to me.

[stevedeshazer]

11. Roger that, we're screwed either way I think.

I'm just hoping to be a little less screwed at this point.

There is no good outcome to this.

:(

[elleng]

7. I agree, 'clean' bill effective 'til AFTER elections,

throw the bums out and THEN negotiate w a sane bunch for revenues and 'cuts.'

[Frosty1]

10. Well I have run out of time and patience for them

Tomorrow I will go to my bank and cash in all my US Savings bonds. It is money I can't afford to lose and the Government will just have to do without it.

[customerserviceguy]

14. Sounds like we have "MacGruber" working on the problem n/t