Traders Cooperative

[smartone]

roy
i have a different take - the confidence fairies think that reining in deficits would help by shrinking federal borrowing, thus freeing up capital for private use. however since there corporations are sitting on trillions of dollars right now how is government spending crowding them out? and btw they also think that deficit deal will be short term drag on economy.

on the other side the Keynesian economists who are prediction .03 to .04 drag on economy in 2012 - well since yearly growth was .04 last quarter - do the math ! this deal just put us into recession!

On top of that - the torturous, and bitter fight for something that previously was just a small clerical procedure has spooked the markets - which i find ironic .