[quote=6packscaredy]the fact that the markets seem unconcerned about serious repercussions makes me think that serious repercussions are more likely than currently thought.[/quote]

In 3 of 4 major indicators, the market is concerned. Equities are down. The dollar is down. Gold is up. The only market that doesn’t seem to be concerned this moment is the bond market. Though the immediate issue before congress is only mildly threatening to bonds, and that threat is probably offset by the pressure the hostage taking in Washington places on the Fed to maintain quantitative easing at current levels.