Hey, it's Kramer, and this is my morning take on the market from today's

CBC Investing Club morning meeting.

Jeff, it is important to point out that a lot of people feel that I'm an outlier

worrying about the debt crisis as much as I do.

And Carl Kintanita correctly pointed out that Jim, if it were so bad, why would any stocks be going on?

I come back and say, if you look at the period that is July 1st to July 20th in 2011, it was extraordinarily good.

Stocks were doing well. That's where we are right now. So let's just say historically,

worrying about the debt deal and having a little

extra cash is a good solution. Yeah, Prudence, I think as we get closer to that X date where we may

run out of cash, so I'm saying June 1st, the market is going to have to discount that type

of probability of a potential of no deal. So it could certainly get more, it's not a volatile day to day,

but as we get closer to it, things could pick up for sure. Well, my writing partner, Matt Horowitz,

sent me a very disturbing piece about the April tax receipts. They were far lower than they thought.

A weaker year. And then we put a combination of the Treasury meeting with big bankers.

Is it possible that you mean a line of credit from big banks in order to be able to pay our bills?

Anything's possible at this point.

When I saw what the Republicans were saying about Biden, that he basically is in favor of default.

I mean, that wasn't the right. That's not what we heard in 2011.

So what I'm saying is that I'm sorry, I'm using a minute-by-minute timeline.

And yes, it's terrific that there are stocks that are going higher, but I want you to understand that there are many stocks going higher going right into the teeth of the deficit controversy and budget ceiling,

and then they plummeted.

So let's be careful and don't take your cue from here and take your cue from 2011.

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