Stocks had been largely higher on the day as GDP came in revised upwards from 2.0 to 2.7 percent growth. It was reassuring, especially if one did not look closely at the details.
Boehner came out later in the day, shaking the fiscal cliff shibboleth at the markets, causing them to dip quickly. One must presume that the Dems are playing hardball, as well they might.
In intraday commentary I speculate in passing that El Cliffo may be the wrapping paper for the next 'offer the people cannot refuse' from the Bankers and the mavens of privilege, in the manner of TARP.
I also, once again, outline the parameters for how hyperinflation might occur, and the latest in economic fairy tales being promulgated by the financiers and generation koolaid, money for nothing, and chicks for free.
The parade of pigmen between New York and Washington smells like teen spirit. O brave new world, that has such people in it.
Have a pleasant evening.
