Which Comes First: Debt Deal or Market Collapse?

[admin]

Which Comes First: Debt Deal or Market Collapse?
Ezra Klein: "We're hearing talk that the 'Big Deal' is being revived, but the bigger the deal, the tougher it is to pass quickly. And so if it is the case that we can't strike a deal until the markets are beginning to bottom out or the debt ceiling is about to cave in, it's a pretty good bet that we're not going to strike a big deal, and it's very hard to predict what sort of small deal the politics will permit at that point. Which is worrying. The political dynamics here imply a lot of uncertainty all the way to the end, but excess uncertainty is the one thing that could lead the market dynamics to turn sharply against us."
http://politicalwire.com/archives/2011/ ... lapse.html