Sure, send your minions on the Sunday TV talk shows to warn America that we are about to plunge into a Greater Depression if the Republicans do not bend to his tax-hiking will by August 2nd, but whisper to your big money pals not to worry, you won't blow your bankroll, because you have every intention of folding if the ante is raised:
While officials from the Obama Administration raised their rhetoric over the weekend about the possibility of a debt default if the debt ceiling isn't raised, they privately have been telling top executives at major U.S. banks that such an event won’t happen, FOX Business has learned.
In a series of phone calls, administration officials have told bankers that the administration will not allow a default to happen even if the debt cap isn't raised by the August 2 date Treasury Secretary Tim Geithner says the government will run out of money to pay all its bills, including obligations to bond holders.
This guidance is a big reason why Wall Street has largely dismissed the possibility of default, and though the markets have been jittery amid the talk of default, they haven't imploded as would be the case, many economists fear, if the nation missed a payment on its debt.
Points to ponder:
- If in fact we have multiple ways to pay our bills come August 3rd - and we do - why the hell has Obama been trying to scare the American people into thinking the End Times are nigh? Surely, he can't be doing this all for political advantage, can he?
-Related: Whatever happened to Obama ending the whole "politics of fear" thing? Or did he actually say "embracing" fear? Somebody check, before it is "New-Speak'ed" out of existence...
-Isn't the White House, by issuing one set of proclamations publicly and another set privately, to wealthy bankers and brokerages, manipulating the market? Are they lying to "the Street" in order to forestall an early crash that would force Obama to cave earlier than he wishes? Or are administration insiders selling shares now, knowing what may in fact come down the pipe if a crazed Obama decides to go all-in with a low hand?
-Can somebody please - please! - get me into a poker game with the Chump-in-Chief?