Well we've got our backs against the wall again with another looming deadline for members of the 'Super-Committee' to come to an agreement on deficit reduction - and they are supposed to come up with something to vote on by Monday in order for it to be voted on by Wednesday and meet the deadline.  And my feeling is they will FAIL MISERABLY as all indications are both sides are not budging.

Republicans are totally unwilling to raise taxes, and Democrats are not willing (rightfully in my opinion) to allow the deficit reduction to be done solely on the basis of spending cuts.  

I am going to save the political editorializing since I know most stock people tend to be Republicans ... generally not the 'gay marriage is ruining America' kind but generally the self-interest kind i.e. 'no more taxes!' kind.

At any rate, when they fail to reach an agreement it's going to be bad all around.  Either automatic cuts come in including big cuts to defense (perhaps shorting a big defense contractor makes more sense like LMT or GD or SAI here) or Congress finds a way to weasel out of the deal and then we risk another downgrade by one of the major rating agencies. And you all remember what happened when S&P downgraded the US over the summer.  

I predict next week will be a clusterf@$# in the markets as we all lose hope that our political leaders can effectively govern.

DO YOU HEAR ME WASHINGTON?  GET YOUR SHIT TOGETHER!