In this week's Off the Cuff podcast, Chris and Mish discuss:
- Voter Revolt
- Eric Cantor's loss suggests populace is getting fed up
- Iraq Gets Worse
- Now a failed operation of two Presidencies
- Manic Markets
- Priced for 0% risk
- Hazardous Housing Market
- Already nosing over?
Geez, where to start? I suppose the theme of this week is "slippage", as developments are increasingly spinning out of the grasp of the spin doctors.
The sonic boom heard yesterday was the news of Eric Cantor's epic loss to an underdog challenger. Not only was the loss unexpected and extremely disruptive (Cantor is the House Majority Leader), but it may harbinger a new wave of "throw the bums out" voter sentiment directed against prominent incumbents. Frankly, that's something we'd be happy to see more of, on both sides of the aisle.
Something far less heartening to hear is the surge of militant uprising in Iraq. This past week, several notable cities have been taken over by jihadists and the local US-trained military & police forces routed. After a decade of loss of American and Iraqi blood and treasure, it seems the country may be becoming exactly what we initially — and incorrectly — feared it to be: an incubator for terrorism.
Back on US soil, the housing bubble is back; but looking in danger of deflating.
by time2help