The Market Doesn't Fear the Cliff
Yes, it does all seem crazy. And while there are still two more trading days after today, the logical question to ask is "if this is austerity on the horizon, why do markets seem to like it so much?"
Think about it like this. We know that we wanted Europe to put through pretty much what going over the fiscal cliff does, and those of us who think that growth is important don't like their plans. There's no growth stimulus. Austerity has led to lower interest rates, but those rates are really a function of central bank intervention....346 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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