![\"Selleverything\"](\"https:\/\/www.technologyinvestor.com\/wp-content\/uploads\/2013\/10\/Selleverything.jpg\")
<\/a><\/p>\nHere’s what happened.<\/p>\n
And according to one chartist, we have “breakdown.”<\/p>\n The theory is that if and when the mess in Washington — the shutdown and the debt ceiling — is solved, the market will explode, and I’ll recoup all my losses of the last week or so.\u00a0 Especially yesterday which was my worst day ever in the market.<\/p>\n My friends tell they have money on the sidelines and they will buy big-time when there’s a solution in Washington. Maybe.<\/p>\n There are all sorts of theories on why Washington can’t do its job. Gigantic egos. Grandstanding. Frustration. Free TV time.\u00a0 It’s fun. In short, way beyond your and my meager understanding.<\/p>\n What’s most fascinating is the argument that not raising the debt ceiling will cause a gigantic worldwide economic. That theory has seen a big sell-off in the important one-month treasury.<\/p>\n More on the chart here.<\/strong><\/a><\/p>\n My friends at a big bank tell me there’s “only” a 10% probability of the U.S. defaulting. You can read “Deadlock Worry Jolts the Market for T-Bills”\u00a0here.<\/strong><\/a><\/p>\n Meanwhile earnings season has started. Early earnings are too soon to tell.\u00a0 Alcoa did better. Yum over-guided and earnings dropped. This morning Costco missed its forecast.<\/p>\n Capital expenditures are tight. That will have to change since many businesses are sitting on antique capital stock.<\/p>\n No one is expecting a return to boom times in the present fourth quarter.<\/p>\n My intelligent friends tell there’s even room for another sell-off.<\/p>\n It’s hard to figure this all out.<\/p>\n Apple is getting a lot of buzz. <\/strong>It’s announced its new phones will be available in many new countries. And Digital Photography Review did a 11-page review of the new camera in the iPhone 5S and concluded:<\/span><\/span><\/p>\n The iPhone 5s features a very good camera that’s easy to use and delivers strong results with little user intervention. It’s a logical extension of the Apple design philosophy, with evolutionary performance increases and feature extensions. iPhone photographers looking to trade up will find much to like in the 5s, but it’s not likely to lure users who prefer larger screens or are committed to other mobile operating systems.<\/p>\n \u00a0Looting pension funds.<\/strong> <\/span>All across America, Wall Street is grabbing money meant for public workers. Read Matt Taibbi’s latest Rolling Stone piece here.<\/strong><\/a><\/p>\n The most honest 3 1\/2 minutes of TV, ever.<\/strong><\/span> Worthwhile watching. Click here.<\/strong><\/a><\/p>\n<\/a><\/p>\n<\/a><\/p>\n<\/a><\/p>\n