I'm not going to try to forecast anything now. The seemingly impossible happened yesterday with the defeat of the bill and with all the partisan finger-pointing after the fact the atmosphere is toxic enough that I'm not really confident that it will be salvaged in any form. There are a number of historical crises somewhat analagous but none of them have very happy endings.
Yesterday's selloff in the commodity markets (which largely preceded the vote) may have been a deeper economic signal. The 'tipping point' may have been crossed. Naturally there's no way to be sure until one is looking back at it.
Yesterday's selloff in the commodity markets (which largely preceded the vote) may have been a deeper economic signal. The 'tipping point' may have been crossed. Naturally there's no way to be sure until one is looking back at it.