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I had another interesting conversation with Greg Valliere the other day. Greg is the Chief Political Strategist for the Potomac Research Group and a frequent CNBC political commentator. He believes Congresss inattention to the fiscal cliff is “breathtakingly irresponsible” for creating uncertainty among people, the economy and corporations. Who can disagree?
Whats interesting, I think, is that this information (along with Europes troubles and the slowdown in Asia), is very well known by the markets. Yet, weve somehow gotten to the middle of July with an S&P 500 return of around 9% year to date. By and large its been a big year for the capital markets so far.
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