To the surprise of no one, debt ceiling punted to 2025 (because… of course it was!)

White House and Congress complete ritualistic debt ceiling Kabuki Dance

Extra, extra, read all about it! The debt ceiling has been extended, markets of course celebrate.

It’s not like this May 17 post was being prophetic. Probably 99% of us knew this would be the “in the bag” outcome, because…

McCarthy, Biden and the whole troupe of dancers actually do not want default, because it takes each of their pieces of pie and throws it right out the window. No pie, no pieces to slice for anyone. I believe they’ll resolve it as they always do, and we’ll raise the debt limit again. But first the Kabuki plays out because, after all, they (at the trough) really REALLY do care about how your tax money is spent. They want you to know that.

They may care about how your tax money is spent, but they care even more about their own hides.

So maybe now we can reduce the noise level and set about managing the rest of this broad stock market rally that was probably just awaiting this formality prior to getting back to the job at hand (and finish sucking in the MOMOs and FOMOs).

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