Yes, you read this correctly. The S%P (NYSEARCA:SPY) is now higher than it was before the shut down. Our elected politicians barely scraped a compromise together on the debt ceiling (and it's not even official as of now, but it's likely). They shut down the government for several days for no other reason than political posturing. The current deal on the table will delay the debt ceiling fiasco for only a few months before we go through this whole ordeal again.
And the markets have reacted positively to this? Our economy has not improved, our debt is still growing, unemployment is still high, our politicians are as partisan and distant as ever. We are on pace to be at 100% Debt-to-GDP by 2023.
And the markets are near record highs. Absurdity. There's no other way to describe it.
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.