Well some sort of deal passed through Congress and was signed by the President. I don't know what it says as I have not had time to read anything much about it. However, I do know from the rhetoric in the news that it was ABSOLUTELY NECESSARY! In order to, you know, stop the markets from panicking (i.e. going down).
Well well well..."unexpectedly" the markets went down today, the day the deal was past/signed (GASP!). The DJIA was off almost 266 points and basically all gains for the year are gone.
I am well aware that correlation does not always mean causation, but this whole "debt-ceiling" debate has been ridiculously immature and nonsensical.
Tuesday, August 2, 2011
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