I have no idea where we are going to end up with the debt ceiling negotiations. I doubt that anyone feels confident about what will happen. You can read about the current confusing state of negotiations.
I have a bad feeling that this is all going to on Monday August 2 amid bitter recriminations and that the country will be plunged into a crisis with delays in Social Security checks, and that would be terrible, being not even the most urgent aspect. We would be looking at an incredibly fast moving economic crisis with a government paralyzed by Republicans in the House of Representatives whose deeply held philosophical beliefs would prevent any effective action to deal with the crisis.
3 comments:
You wouldn't know there is a crisis from looking at the stock market.
Probably would not have known the Titanic was about to have trouble from looking at the captain
The stock market will be the last entity to tank.
I don't put any faith in the stock market as a barometer of our economy.
It is merely a short-term measure of how the top 10% of households view our economy.
Here we are, on the verge of a potential default, and the market seems to care not a whit.
Even if it tanks 50%, as it did a few years ago, it quickly rebunded, due to...what?
Don Levit
Post a Comment