Thursday's explosive market reaction to a potential shutdown resolution demonstrated perfectly our national tension. Final resolution will get a similar reaction: a relief surge in stocks, a brief rise in rates, and then a new wait to see how much damage the fiasco has done to the economy. We wondered here last week if the vacuum of economic data meant that September did not take place, and now we have confirmation: It did not. Reports are not just suspended, so is the data collection itself. October also may be a hallucination. The very limited private data is reassuring: The NFIB small-business survey for September was pretty much unchanged, and in a minor miracle the University of Michigan consumer confidence measure slipped only from 77 to 75. Janet Yellen, come on down! On th...
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