3% Funny thing was, it was somewhat a lark. The market obviously (perhaps too obviously if one wants to delve deep) knew that the deficit deal'd get done. Even if it were not complete yet, there'd be no default, ranting CNBC personalities not withstanding. So my real vote would have been flat. Except so many people even on this board were sure the market would soar! It's like watching lemmings run off a cliff. It's just hard to understand. It's a lot like watching people in the US think that we should still spend our brains out, and we can tax the snot out of the "rich" to pay for it. Amazingly stupid. As a matter of fact, I just bought a movie that this reminded me of: Idiocracy. Left wing losers won't like it, nor will right wing dictators. But if you believe in liberty and small government, you might like this movie. But back to the thread. The media circus made it clear that trouble was underfoot. I mean, when was the last time that we faced TEOTWAWKI as determined by the media? Y2K, I think. Yes, we face claims of that here on a weekly basis, but it's not widely disseminated through the MSM.
I say the market behavior these past few days indicates the country lost in the debt ceiling increase. We kicked the can down the road, no meaningful cuts in spending, a downgrade in the debt is foreseen.