In an otherwise quiet day on the political front, moments ago Bloomberg dropped the surprising news of the day with a report that House Republicans are considering another try next week at passing the health-care bill they abruptly pulled last Friday in an embarrassing setback to their efforts to repeal Obamacare.
Paul Ryan and GOP leaders are holding a press conference to discuss next steps in the aftermath of Friday's failure to repeal Obamacare, and as CBS reports, among other discussion topics, the GOP is currently contemplating ways to revive the repeal of Obamacare, with CNN adding that Ryan may potentially re-engage the Freedom Caucus.
As the GOP's healthcare reform bill was pulled on Friday, the major stock indices rebounded in a fit of confusion, helped by the collapse in market liquidity to the lowest levels of 2017...
However, as NorthmanTrader's Sven Henrich writes, nothing has been solved (or even addressed). Our country, whether people are willing to admit it or not, has deep structural problems that require deep thinking and broad support to solve them.
When one strips away the partisan rhetoric and posturing, the practical impact of Friday's GOP failure to repeal Obamacare has a specific monetary impact: approximately $1 trillion.
The following article by David Haggith is from The Great Recession Blog: