Phil Grossfield's Blog


Proud To Be An American – WARNING! Sarcasm Detected….



American Psyche.  Sure, let’s shut the government down…what difference does it make? Estimates appear to be in the $1.5 billion range but that’s no big deal, right? And what about the Republican party?  They can take the hit even if most American’s feel they are acting like cry babies willing to hurt our entire economy to ensure our President doesn’t get his way. But no matter…the Republican Party is strong, right?  It can take it!

It’s not like the Republican party has been reeling the last two elections. Sure, Mitt Romney was unable to connect with middle-minded Americans and these citizens sided with the Democratic Party as a result. But it’s not like the Republican party has lost that many numbers, right? It’s not like the Republican party needs to find its way back to the majority. The Republican party can withstand yet another hit to its public confidence. I’m sure the middle-minded American people will flock to support the Republicans after they are blamed for the government shutting down. Eh, who cares anyway…we’ll just have Democrats on Capital Hill indefinitely…no big deal, right?

robotsOh, and our economy can take it, can I get an “Amen!” Sure sure, we’ve got nothing to worry about…the economy is improving, right? Oh, wait a minute, the Fed decided not to taper QE because it said the economy was still too fragile. Oh well, I’m sure shutting the government down won’t impact things. I’m sure our elected officials have our best interests at heart.

We’re the world’s super power…nothing can stop us. Even an internal meltdown and constant bickering instead of working together won’t weaken the great United States of America!  Our elected officials can play rock ’em sock ’em robots all day long and we’ll still be the best! In fact, I’m sure our most successful American businesses are taking notes on how to be more successful next year. America is teaching its businesses and future leaders that an approved budget just isn’t necessary…we don’t need it!  I’m so proud!

My Market Watch:  Bonds Flat – Government Shutdown Looms – Arm & Fixed Pricing Unaffected Thus Far.  The  30-year Fannie Mae bond is trading flat. At one point I was concerned bonds would be sold off and Capital Markets would reprice for protection, but that threat appears to have dissipated.

Government Shutdown. The government is preparing to shut down tonight unless a last-minute resolution is reached. Again, I just can’t believe I typed that. And quite frankly I have no idea how the markets are going to react to either a shutdown or a last minutes resolution. I guess it could go either way. Since traders are not doing anything, I don’t think they really know what to do either.


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One response to “Proud To Be An American – WARNING! Sarcasm Detected….

  1. Bernie October 1, 2013 at 7:29 pm

    Politically you and I disagree but you and I communicate our differences, accept them and move on. I did not want Obamacare. I did not get to vote on it. If Obama put this to a vote to the American people Obama knew he would loose because at the time no American wanted more taxes. So he pushed it through both houses of Congress both led by democrats. Americans were outraged that all our phone calls and all our emails begging and pleading with our democrat representatives to vote No. It fell on deaf ears and Obamacare passed. So we revolted and said YOUR FIRED and took back the House. Now we want Obamacare stopped, defunded, scrapped, destroyed, delayed
    whatever it takes. The House has gotten so many phone calls, so many emails telling them to hold their ground. Do NOT give in to the President or the Senate, get rid of Obamacare. WE THE PEOPLE DO NOT WANT THIS LAW. Since we spoke out at the last election, The HOUSE is listening to the people. They want their jobs. it is obvious the President has short timers and the Senate is hoping what happened in 95 96 will happen again. Not going to this time. Americans are pissed off and finding out today Obamacare is not FREE. The democrats better jump on board
    and get rid of Obamacare or at least meet us halfway and delay it a year. Otherwise we will default
    because we are calling and emailing the HOUSE daily. Dig in – do not quit, get rid of Obamacare. We elected you to do it. Now do it….

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