Dow dives below 12,000


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The Dow today dived below 12,000, a nine-month low.

The report above tries to look past the just signed debt agreement, but I wonder if maybe it was the debt deal itself that worried investors, since the deal really did little to gain control of the federal government’s out-of-control spending.

Update: “The joint committee process is yet another promise by Congress that it will get spending under control — just not now, but rather some time in the future, always in the future.”

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