The “debt ceiling crisis” was averted just in the nick of time, to be followed by…
Italian and Spanish bond markets imploding, $4.5 trillion wiped out in equity values over 7 trading days (in comparison, the US politicians “negotiated” $2T in spending cuts over TEN YEARS), investors PAYING the Bank of NY Mellon to LEND it money on deposit, the ECB making desperate moves to calm markets Friday afternoon, only to have the S&P bring in the weekend by downgrading US Treasuries to AA+.
Looks to be gathering storm clouds on the horizon.
