mkts not interpreting the Boehner and Obama statements correctly IMO
there is a wide chasm which has been put forth by Boehner and Obama.
In a way the out given to Boehner from Obama today may be a next best option for Boehner. This would be the smart option for him to pick.
as stated the only way for Boehner to save face is to go off the cliff - his problem is by going off the cliff he does not gain a negotiating advantage. Obama will be forced to let Boehner go off the cliff.
Not a big deal but the uncertainty created by this markets will not like when it happens.
mkts sliding because of their misinterpretation of what they thought compromise would look like as I suspected there is still a big gap between Boehner who said no tax increase vs Obama whose position is top 2% pay a little more.
you can't get there with what Boehner proposed - you can with what Obama did just now.
Elimsii...a typical hard core Liberal who knows nothing about basic economics. Impossible to get there with what Obama proposed. Obama had 4 years to at least show some progress but things got MUCH worse! FREE STUFF won the election. Nothing else. Just like in the European Countries.