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Speaker of the U.S. House of Representatives John Boehner recently made headlines when he stated his intention to force another debt showdown this fall. There are numerous theories on why the Republican Speaker would want to push this issue after last yeat’s contentious fight and the resulting decision by Standard and Poor’s to downgrade America’s credit status.
Call me cynical but I can’t help but wonder if the time-honored Republican value of greed might play a part. With the signing of the Stock Act by President Obama in April making the practice of Congressional insider trading illegal a new addition to their portfolio is called for. How can a Republican keep up with the Koch Brothers on a salary of only $174,000+ a year?
How about investing in bonds? I know bonds are traditionally a low risk, low yield investment but what if the millioinaire repub caucus could spice it up a little? Any investor looking at the problems in southern Europe couldn’t help but notice how a debt crisis really jacks up the yields on bonds. If it happens there, it can happen here with the help of a manufactured debt crisis might be the thought running through the Speaker’s mind.
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