You know, I've been so focused on the debt limit stuff that I really haven't been fully alert to whatever else is going on. So, yes, the debt limit situation; the truth is that it's already damaged the economy no doubt, and it's likely to do more before it's over. That's not even counting that any deal that cuts the deficit short-term will, at least in my view, damage the economy. And then there's the damage, short and long term, that could escalate this week.
Sorry, I don't have much good news for anyone on this one.
The other very big news was the terrible GDP numbers, both in the recent quarter and the downward revisions over the last few years.
What else? Libya, I suppose. It's close to the end of the month; I might as well note now that coalition deaths in Afghanistan are off sharply year-to-year for the second month in a row. Indeed, barring a terrible weekend, July 2011 losses will be lower than the last two Julys, something that hasn't happened (month-to-month, that is) since February 2008 was lower than Februarys 2006 and 2007.
But I'm sure I missed stuff: what else? What do you think mattered this week?