Locator: 49358INVESTING.
"Holiday of some sort" tomorrow -- a holiday that has become so water-downed I've long forgotten its name, and who, when, why, and where it's celebrated. I guess it used to be called "Columbus Day," maybe it still is and now it has a name that simply rolls off one's tongue, as they say -- Indigenous something day. It has become so water-downed it's selectively celebrated. Mostly by school children, I guess.
Anyway, the important thing, US equity markets are open tomorrow. Bond markets are closed. The US government is still shut down.
By the way, we will go through this whole process again at the end of November -- next month. If you don't believe me, fact-check me on ChatGPT. The tea leaves suggest we will be going through this process every 30 - 60 days through the mid-terms next year. Remember, there are twelve appropriations bills to pass.
And it looks like there's a new wrinkle. When the government shuts down there's only a few high-ticket, high-visible "agencies" that are affected, like paying air traffic controllers and seamen, soldiers, and airmen. And now it looks like the president has found a military slush fund that can be used to pay the men and women in the US military.
Air traffic controllers are primarily funded through the Federal Aviation Administration (FAA), which receives money through two primary sources: the Airport and Airway Trust Fund (AATF) and the annual Transportation, Housing and Urban Development, and Related Agencies (THUD) appropriations bill. The THUD bill provides the congressional authority to spend money from both the AATF and the Treasury's General Fund.
It looks like it may be time to separate the AATF from THUD, just as military pensions, social security, and Medicare are separated from the other 12 appropriations bills at least to the extent to keep those checks flowing.
Anyway, meaningless rambling.
What's on tap tomorrow?
