It’s the Reaction, not the Details, that Matter
For more than two weeks there has been a partial shutdown of the federal government, as Republicans and Democrats in the House of Representatives, the Senate and in the White House battle over the budget and how much of our money they plan to keep borrowing and spending.
This morning, there appears to be a compromise deal on the table reached in the Senate to end the government shutdown and to raise the debt-ceiling limit so that the politicians can borrow more money, get us further into debt and gain more and more fiscal influence over the economy.
Now, as of this writing (midday Wednesday), a final deal hasn’t been agreed upon, although it certainly appears that we will get a deal done by tonight, before the somewhat opaque debt-ceiling deadline of Oct. 17. Of course, the details of the deal are not as important, at least from an investment standpoint, as the market’s reaction to the details.
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