Friday, November 18, 2011

Super Committee

One other thing.  You're going to start hearing a lot over the weekend about how the deficit super committee is deadlocked and no agreement is possible.  That may be the case.  However, it is more likely that any agreement will come at the last minute or possibly after an extension so they can iron out their differences if they are close.  The two sides are so ideologically distant that the only way they can possibly get something done is play "hardball" up till the last minute.  This may move the markets as the deadline draws near but I think it more likely that investors are anticipating the same thing as me.