What Thoma said...

Here's the link. A radical fringe minority succeeded in holding the country hostage to pass a totally one-sided debt deal, (well not yet, but it's been agreed to by the party leaders). I think it's safe to say our political system isn't working.

No, the national debt isn't an issue for capital markets. There is no crowding out. TIPS yields are currently negative on 5 and 7 year notes. People are paying the United States to take their money in real terms.

Meanwhile GDP growth has been staggeringly slow and our unemployment rate is still over 9%. I haven't posted anything in a while but I'm a bit frustrated...