another Danny rule reminder by old Sam

Don't buy back too early. If you get out just before everything crashes do not be too anxious to get back in. There can be as many as two more diving rallies. A diving rally is one where you go up at first and then tank.  

response ability

Response ability is the ability to respond. Respond is the keyword, since it is just the response itself, with or without the adjective ability. If you do not have the ability to respond then you are singularly not to blame. However, you still have to respond, regardless of blame. In other words you are the only one in the donut hole even if the blame rests with someone else.

This was first demonstrated by a little known theory inaptly named baby in the well. If a baby is placed irresponsibility, on the edge of a well and falls into the well by a gust of wind, the baby remains in the well. Blame however rests wherever it rest. 

All this was in the law since Roman times as relating to intent. Intent does not enter into guilt or responsibility,  Intent regards only degree of sentence by the court. You are not guiltless because you did not intend commit a crime, you are only subject to a lesser or greater sentence as determined by the degree of your intent.

"we only owe it to ourselves"

Dow futures down 200 points in the night. Nasdag wrestling with the old high of 2000. It took 15 years to get here and it may take another 15 years to get back here.Too much crony capitalism nose in the air thinking that we only owe it to rich republicans. Altho 60% is a landslide, a house divided against itself will not stand.

truth cannot be told by those who know

Counterfeiters, insider traders and many poor, will always be with us. But to counter them so will governments, and thank heavens for that. They print money, but don't try it yourself. Reason is that there is nothing behind money you print. It is not nice to cheat anybody, just as your mother told you. Why is because we see here just another example of the truth that cannot be told by those who know.

skimming the headlines

A good rule whether you are reading the news from here to the New York Times is, the market has already discounted it. Anything in the newspapers is history, ancient history. If it is printed on glossy paper however, that means it is published in amber.

still could pay interest on the debt

If no agreement reached default does not mean they could not service the debt if they wanted to, which is the bottom line most vitally important event. Of course there is always a time limit on everything. Eventually the interest on the debt climbs so high everything we could borrow would go to payment of the debt. That then is ground zero. Someday the money is going to have to be to be devalued, that is a mathematically done deal at this point. It all depends now on perception to predict the actual blow out point. The country is sinking under its own weight. All roads led to Rome, just as they now they lead to the US. When it all happens the pot will already been boiling for some time.

Is the trend underway?

Not easy to predict a change in the trend too far ahead of the curve, so I am going too sit tight a bit longer. Shutdowns I do not think have made any significant impact before. Danny's rule was not too pick tops or bottoms no matter how attractive it was to be early, where admittedly the big money typically is made.