And the market says ‘ho hum.’ The DJIA, NASDAQ and S&P 500 are basically flat today.
“And the market says ‘ho hum.’ The DJIA, NASDAQ and S&P 500 are basically flat today.”
The markets know that there was no risk the debt ceiling did not get raised.
“Biden Caved” = The democrats moving from “Ludicrous Spending” temporarily down to “Ridiculous Spending”. As soon as the debt ceiling is raised they will spend it all and be back at the same old game.
“McCarthy Won” = Republicans got loose agreement that spending increases will be marginally lower - but there will be no guarantees that spending increases will be lower over time.
This is what passes for “government” these days. There is no intention to moderate the risk of economic calamity/inflation/unemployment.
Republicans and Democrats will “trade the deal” in the markets and make money for themselves.