Thursday, December 6, 2012

Ruh Roh: The Path of Equities During the 2011 Debt Ceiling Debate vs. During the Fiscal Cliff Debate

From Bloomberg via ZeroHedge:
Chart Of The Day: Deja Boo
As an update to our comment last week on the three 'F's of US fiscal-policy-making; it seems we are following the path of last year's debt-ceiling debacle ever more closely. Once again - do we need a 20% drop in US equities to spur the politicians into action? As they try and wedge a square peg of higher taxes into a round peg or spending cuts, we suspect so...