BarroMetrics Views: The US Debt Crisis II
A short blog.
I thought I had said all I could say on this subject until Obama came on National TV yesterday. It reminded me of someone, who having borrrowed to the hilt and is unable to repay the loan, says to the bank:
“I have a wife and truckload of children. If you don’t give me the loan I want, you’ll be responsible for their being without home and health”.
I have one word to describe the performance: scary. But….
Call me the eternal optimist, I do believe that within the next two days, some sort of deal will be struck. But here’s the hidden clanger. So far the US markets have reacted mildly to the crisis. In part this explains the brinkmenship that is being played. What the polis need to be careful about is after the compromise this cliche will again prove true: “buy the rumour, sell the fact”