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Panic on the Street?

9:19 AM, Oct 1, 2013 • By GEOFFREY NORMAN
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In Washington, the wail of voices crying "shutdown" is so loud one can hardly hear anything else this morning.  But the further away you get from our panicked capitol, the less alarmed people seem to be.  On Wall Street, before the opening, Bloomberg headlined that:

U.S. Stock-Index Futures Advance Amid Government Shutdown

Wall Street no doubt understands that what is happening in Washington bears the same relationship to a "shutdown" that the Affordable Health Care Act does to "affordable" health care.  The words are meant to obscure and distort, not to clarify.

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