Political Dysfunction on Display

December 21st, 2012 at 5:21 pm

After trending up nicely, the MI survey of consumer sentiment tanks in Dec thanks to the self-inflicted wounds around the cliff.

Source: Univ of Michigan Consumer Sentiment Survey

Markets slumping today as their priced-in solution ran into the buzz saw of House R’s.

Source: MarketWatch

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One comment in reply to "Political Dysfunction on Display"

  1. David Carlton says:

    Er, when was the survey taken? Given the likely timing, it’s striking that consumer confidence would be more skeptical than the “efficient” financial markets. Also, at this writing the S&P is down a little over one percent–a much quieter response than I’d have expected. Perhaps it’s the holiday lull, and things will heat up late next week?