"I'm disappointed in where we are and disappointed in what's happened over the last couple of weeks." -Boehner
That's a pretty different characteristic to Blankfein's opinion last night. I guess Boehner is telling the markets that the republicans want to be bitch-slapped, a hard bitch-slap across the face. Its probably the uncontrollable fruedian sadomasochistic persona dug deep within the extreme of the Grand Old Party.
The markets are the great equalizer. The effects of the markets have changed more governments in Europe, then years of war. The bitch-slap the market can induce is literally forcing legislative changes all across Europe. Like a mother disciplining her son, that back-of-the-hand has power.
On November 6th, the American voters have already given the Republicans a black eye. In response, the Republicans shifted their tune. First Boehner came forward with a softer, beaten tone. Throughout the last two weeks, multiple republicans have begun to back away from a grade-school-caliber-tax-pledge. (Many CEOs are also lobbying to stress the importance of a deal.)
The chatter would suggests a deal will be made before the end of the year. But, if the Republicans choose to ignore the pressure of the American people and the most respected CEOs in America, then they will get bitched-slapped by Mrs Market. This is a ridiculously obvious scenario. Its almost childish, and frankly embarrassing, if the Republicans allow the markets to force their hand.
The current trading dynamic suggests the markets want to go up. The SP500 is pretty overbought, and has been for the last 30 SP500 points, yet cutting though resistance. Economic data is getting better. Jobless Claims are rapidly improving from the effects of Sandy. The only thing that can derail the desire to push-upward is sadomasochistic behavior.
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