FONDLY we all recall the congressional-presidential battles of recent years concerning whether to raise the national "debt ceiling", which formally gives the united states government permission to go into ever greater debt, to its own citizens, and foreign countries, mostly.
This annual argument seems ridiculous, because there is really no way to avoid raising the debt ceiling, and they always end up doing it, but never without the maximim amount of political grand standing and sound biting.
This time, obama, just as he boarded a jet bound for hawaii, proclaimed that this year he will participate in no such debt ceiling squabbling and politickin'.....as if the choice is entirely his. if congress decides to politic a bit, then politickin' is what the prez will indeed do, prior proclamations notwithstanding.
Obama gets his bill through the house of representatives, including tax hikes for the very wealthy, and it goes to his head....
meanwhile, the stock market is headed towards a big day of gains wednesday, january the second, on the heels of similar gains made in asian markets - all, according to analyists, because the united states narrowly, dramatically avoided the dreaded fiscal cliff.
Exactly how does this work? Why would an investor, any investor, in japan or china, make any investments choices at all base upon the behavior of the american governmnent? For that matter, why would any investor in america?
Everdy stock trading day the markets are alleged to be affected by some hurrican or other, some corporate merger or other, or some politicians' speech or other. Are we investors really so easily swayed by the winds of fortune? Evidently, we are. Hold on tight, the ride is only gonna get bumpier.
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