After the party… (the tea party)

Posted on Oct 17, 2013 by in Letters

 

http://stockcharts.com/h-sc/ui?s=$SPX&p=D&yr=0&mn=8&dy=0&id=p57309614995&a=266398464

Reeling with a head splitting hangover from the excesses of the last two weeks we solemnly swear off tea and swear -- never another drop.  The market was surprisingly benign -- especially considering the cataclysmic consequences of a US default.  Just stumbling drunkenly near the precipice will cost the Treasury (that's us folks) billions of dollars.  The Chinese have already downgraded our bonds.

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