Mohamed el-Erian, CEO and co-CIO, Pacific Investment writes that …”It will come down to the wire; and when the stopgap compromise is reached, many in Washington will declare victory and, in the process, claim credit for averting a national disaster. Yet the resolution will likely be temporary, and the damage will be real and long-lasting -- both of which render an already worrisome situation even more difficult going forward. Indeed, by illustrating so vividly to the whole world what is ailing America, the weekend's political theatrics should make us all worry even more about the world's largest economy…”.
Read more at http://www.huffingtonpost.com/mohamed-elerian/debt-ceiling-debacle_b_908179.html
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