Quiet Now, Chaos Soon


Photo: Wikimedia Commons

The only topic anyone is discussing is the debt ceiling.But despite the lack of clarity, and confusion, markets aren’t doing anything much. They’re very quiet everywhere.

It seems like a good chance that things will stay like that until the Boehner plan is voted on in the House at around 6 PM tonight, and right now it’s not clear if it’s going to pass.

Officially, if you listened to Democrats, the Boehner plan is DOA in the Senate, but observers suspect that if it did pass, Democrats would reconcile it with the Reid plan, pass that in the Senate, and send it back to the House for a good shot at passage.

If Boehner fails… then it’s clear that the Tea Party can still hold up a deal, and there’s a good chance markets will panic on the news.

So, quiet now, chaos soon…

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