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I don't know one guy (including me) who owns his own business who really gave a shit about the arguments and deals that Congress fought over. We all look at the bottom line: Are people BUYING.
If not for CNN and Fox News "reporting" on this 24 hours a day then millions of rednecks living in trailer parks who could give two shits about the federal govt. (except to get their "welfare" checks in whatever form) wouldn't even KNOW anything about a "debt ceiling". And they would be at Walmart buying stupid shit everyday.
Arguments in Washington are usually only "important" to the self absorbed politicians and media.
The stock market rises and falls mostly on speculation and "confidence" and "fear".
And again...when you have the 24 hour "news" organizations and govt. fearmongering...what did they expect to happen.
All I can say is...I voted for Obama. He has been a huge disappointment. And now he shows that he doesn't grasp how to play the "game" and keep the market kicking ass.
It ain't that hard. Hell Ronald Reagan saw Jimmy Carter make the mistake of being depressing. And then he simply was "cheerful" and no matter what happened he just kept saying how "great" America was...and I'll be damned if it didn't inspire confidence.
Obama sitting back and acting helpless and letting Reid and Pelosi run the Democratic Party and the country is causing business and the market to be unstable. Period.
They don't know what's coming next. Will their taxes be raised? Expect MORE unemployment. Are they going to have to pay for every employees health insurance in a couple of years? Expect MORE unemployment.
Uncertainty is what's killing the market.
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