(As of 7:15 PST)
The stalemate continues in
Washington, DC. Republican lawmakers
have painted themselves into a corner and can’t find a way out without losing
face. Markets are listless but
watchful. Concerns are mounting because
this episode is becoming less about political wrangling and more about exposing
the debt and spending problems which plague the US Government. Markets are down slightly but action is very
limited on most fronts. Gold is up
slightly along with oil. On a bright
note, mortgage interest rates have been dropping though the crisis and the 30
year rate stands near 4.25%, a great improvement for home buyers and a sure
boost to the real estate market and home builders. International markets are taking their cue
from the US dilemma. Volatility
continues to surge as uncertainty is the order of the day.
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