Continued volatility as US and Europe face persistent debt problems

Rearranging deck chairs

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The silly season came early. The farces playing out in July and into August are worthy of any absurdist dramatist.

Politicians on both sides of the Atlantic have been acting with a careless disregard for reality that is breathtaking. Both eurozone and US political leaders have blatantly behaved like spoiled children squabbling over sweets.

The US debt ceiling debacle should serve as a very loud wake-up call for politicians on both sides of the aisle. Markets and investors will not remain forever f