Here we go, folks-
The first day of the “next 4 years” is starting in a very auspicious fashion. First, the market crashes. Then, a major blue chip company, Boeing, just announced it would cut 30% of management jobs from 2010 levels. And finally, the US Treasury justadded $24 billion in debt, or enough to fund Greece for over one year, sending the total debt load (the US is now at 103% debt/GDP) ever closer to the debt ceiling breaching $16.4 trillion. But don’t worry: over the next 4 years, the US government will add another $6-8 trillion in debt, so those who didn’t get their allocation in this auction will have more than enough opportunity.