Morning Joe Charts: Fiscal Cliff (Uncertainty, Investment, Confidence) – Steve Rattner
These charts tell a very simple, but very important story. What we can pretty easily decipher from these charts is the idea that ideology isn’t necessarily that important in the eyes of the financial markets. What is important rather is certainty in the market often based on whether or not we have a functioning government. I’ve sighted several times before the simple fact that Standard and Poors (S&P) downgraded the United States credit rating based on us not having a government capable of governing. With the recent conversations over raising taxes (whether by closing loopholes, or raising rates) softening it will be interesting to see what happens with Grover Norquist’s Tax Pledge, and how it will play into these very important times.
And now, some charts: