So here we are the day after the great rejection and t he market is attempting to recover. As I write, about noon EST, the Dow is up about 200 points — still 600 points to go to even get back to where we started yesterday before the great rejection. Two of my favorite commentators last night, Ben Stein and Paul Krugman, were in agreement that the bill was imperfect, very imperfect, and that the Treasury Secretary was asking for powers that required usurpation of the Constitution. That said, they both agreed that Congress was playing with fire and that the entire economy could be brought down in ruins. Continue reading →