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Weekly Market Report – May 18, 2023
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Restaurant & Retail Updates
Stokes Grill and Bar at 136th & West Dodge Road will undergo an extensive renovation. The space will close temporarily from Sunday, May 28th through Thursday, June 1st. Founded in 1997, Stokes is part of Restaurants Inc., which also owns Twisted Fork, Taxi’s Grille and Bar, Stokin’ Goat and Goose 120.
Crumbl Cookies will hold a grand opening May 26th for its new location at 8650 South 71st Plaza in Papillion. The Utah-based cookie chain has two existing west Omaha locations.
Andrés Tortillery has changed its name to Andrés Salsa Dancing. The One Pacific Place restaurant is now a dance club open late nights.
Let It Fly will officially open to the public on June 16th in the Capitol District just in time for the College World Series. The South Dakota-based sports bar will operate in a 10,000 sq. ft. space at 1080 Capitol Avenue.
Ollie & Hobbes Craft Kitchen is actively hiring for its new One Pacific Place location, which will open in a few weeks. The casual restaurant’s original location is in Papillion.
Guy Fieri’s Kitchen + Bar will hold its grand opening Monday inside Harrah’s Council Bluffs Casino and Hotel. The celebrity chef’s restaurant is designed to enhance Stir Concert Cove, an existing outdoor entertainment venue.
The Omaha City Council recently granted final approval for the Costco Wholesale store planned for the southeast corner of 180th & West Maple Road. Opening should occur Fall 2024. It will be the metro area’s third Costco.
Acuity Vision will occupy a 2,900 sq. ft. space in a retail building at 3503 Samson Way in Bellevue, according to Gabrielle Estivo of NAI NP Dodge, who represented the landlord.
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The “Restaurant & Retail Updates” section is sponsored by Anderson Convenience Market, featuring Quality AMOCO Fuels and serving Omaha since 1952, and proud to announce the return of Quality Amoco Fuels. Look for changes this Summer at Anderson Convenience Market – 8 Omaha area locations!
Learn more about Anderson Convenience market at www.Anderson1952.com
Grow Omaha Eats with
Sarah Baker Hansen
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At the Mill on Leavenworth, 90s coffee nostalgia meets a modern, cozy hangout
I remember in 1996, when I first discovered the downtown Lincoln Mill Coffee shop, it felt like it belonged to me.
I drank countless cold granitas — a frozen coffee slushy, basically — on its Haymarket patio on warm spring days while studying journalism at the University of Nebraska-Lincoln.
Then, I was still a coffee novice, so my drink of choice during the winter months was a steaming hot, chocolatey mocha, which I drank seated by the window, most likely reading a print copy of the Daily Nebraskan, the student newspaper where I worked.
When I graduated in 2001, I knew one of the things I was going to miss the most were the days spent lingering with a book or newspaper at the warm, cozy, welcoming Mill. I only had a desktop computer then — what a concept! — and smartphones didn’t exist. It was just me, my drink, my printed-on-paper reading material and some of the best people watching I’d ever encountered in my young life.
Now, with the opening of Omaha’s first Mill, tucked into an old art deco building on 31st and Leavenworth Street, I’m rediscovering those moments more than 20 years later just minutes from my home, again.
It’s the best kind of deja vu.
Coffee culture in Omaha has grown a lot since the days of the 1990s coffee shop boom — this was when the show “Friends” was still new, my friends — and for me, The Mill fills a niche that’s a mix of nostalgia, comfort, and honestly, simple, good coffee.
The beans are not as complex as the ones you’ll find at Archetype. The drinks are not as finely crafted as the ones I’ve ordered at Rally in north Downtown. There’s no extra creamy, vegan pistachio latte like the one we discovered at Amateur Coffee on Cuming.
Though I love all those shops, I go to The Mill for specific, easy drinks, like a cup of their gently flavored hot hazelnut brew topped with steamed milk, or a cold brew mixed with house made cookie butter syrup that gives a hint of Biscoff mixed with Trader Joe’s speculoos. It’s divine.
The shop also has the locally owned chain’s first drive-thru, which I have taken advantage of more than is probably acceptable.
The Mill opened in Lincoln in the mid-1970s by the owners of a bicycle shop who wanted to upgrade their coffee, eventually opening the first Mill in a spot adjacent to the bike space. That original shop moved into its current space in Lincoln’s Haymarket district in 1988 and began to roast its own coffee beans, according to current owners Dan & Tamara Sloan and the story shared on the shop’s website.
In addition to that Haymarket location, the Mill has locations in Lincoln’s College View neighborhood, on the NU Innovation Campus and inside the Telegraph building.
I exchanged several emails with Tamara, but we were not able to schedule a phone call before my deadline.
Inside, the Mill Leavenworth has an updated version of that worn-in cozy vibe I so loved about the original Lincoln location. Chairs are comfortable and abundant. There’s a trendy but appealing library wall covered with a literal rainbow of books. Lighting is soft and warm. And, after 5, the bar seating area becomes an actual bar, with a menu of beer, wine and house-created cocktails, along with a limited menu of savory snacks.
I’ve spent several hours during the day and in the evening at the Omaha Mill, and I’m not the only one. Every time I visited, the place was packed. Of course, a few people still read newspapers, which I found deeply comforting. But most were like me: headphones on, laptops on, work hours being logged. To that end, I can hardly believe how many wall outlets the shop has, tucked behind curtains or underneath chairs. It’s impressive. Coffee culture has changed, and the Mill has, too.
I tried a handful of the baked goods on the menu, and my top pick is the impressively chunky hippie cookie. I don’t eat many cookies, but this one is worth the indulgence, packed with crunchy walnuts and pepitas and stuffed with milk chocolate chips throughout, it’s got a soft-crisp-crunchy thing going on that’s deeply appealing. It’s also not dry and hits that sweet spot between under-baked and too brown. If you feel like a treat, consider this.
The banana bread is a classic, tender and moist, with nuts and a sweet, banana-forward finish. A cakey lemon poppyseed muffin is one I’d skip in the future; it was a little too sweet for me and I wished for a more lemon forward flavor and more poppyseeds.
Every Mill location has a large retail area in front, and this location does, too. There’s no shortage of t-shirts, travel mugs, hoodies, coffee and tea brewing supplies and Mill-branded knick-knacks. (Yes, I want them all.)
There’s also a coffee and tea retail area, where customers can buy loose-leaf teas and whole coffee beans in a wide variety of flavors, single origin blends and custom Mill creations.
For several years, I’ve ordered bags of Mill coffee beans from Lincoln, and it’s what we brew at home on the regular. Some of my favorites are the Sulawesi, an Indonesian medium roast coffee with flavors of molasses; the Mill Blend, a lighter bodied coffee with fruity notes and an earthy finish that is one of the shop’s signature blends; and the aforementioned Hazelnut.
To purchase coffee or tea, select the oversized mason jar you want and take it up to the counter, where a member of the staff will weigh it, bag it and grind beans to your specifications, if you wish. You can also order coffee and retail goods online.
Staff is friendly, speaking of. In particular, the folks working the drive thru, which has become increasingly busy, are very nice, chatty and kind. I didn’t encounter any mistakes on any of my coffee runs.
One night after work, Matthew and I, as you should have already guessed, checked out their cocktail menu. There are seven original drinks, of which we tried two, plus a list of around a dozen old-school and modern classics, like the Sazerac, the Old Fashioned and the Paper Plane.
I had to get the Mill’s version of an espresso martini. I’ve tried several around town, and it makes sense that a coffee shop would know how to make a good version, which this one is, with a hint of Irish Cream, a ristretto shot, which is (insert) and their house-made cold brew liquor. Despite the Irish Cream, it’s not too sweet, and has a balanced, creamy, caffeinated finish. Recommend.
Matthew tried the Telegraph District, a springy take on a gin and tonic made with hibiscus syrup, violet colored Empress gin and elderflower tonic water. It had a refreshing, distinctly floral finish and an appealing bright magenta color.
The snacks at the bar include complimentary, well-seasoned bowls of popcorn — one of my favorite things at any bar is popcorn, even though I know it’s there to make people thirsty for more drinks. It’s still a nice touch.
Pretzels with cheese dip and spinach artichoke dip with pita chips are available, too, for purchase. We tried the spinach artichoke dip, which was fine, though nothing remarkable, and our pita chips looked like they’d settled at the bottom of a bag, mostly broken with a lot of crumbs.
Here’s my one big complaint: The bar is super slow, and not staffed to where it should be. Our bartender warned us ahead of time that he was new, and the drinks were going to take time, and we weren’t in a rush. But it did take a while, and if someone stopped in for a drink before a show or a dinner reservation, that time commitment might be too long.
For now, I’d advise checking out the bar, but sticking to beer and wine while the team has time to catch up on its cocktail-making skills.
The Mill Leavenworth hits all the sweet spots I was hoping it would. Many times, memories of a place can be overwhelming when a new version of it arrives. But there’s enough old charm, warmth, hospitality and yes, people watching, to make the Omaha Mill a favorite once again.
See you on the patio this summer, granita in hand.
The Big Story
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Photo by Brad Williams
2023 Omaha Tourism Award Winners
Visit Omaha has announced the 2023 Omaha Metropolitan Area Tourism Awards, recognizing the best tourism businesses in Douglas, Sarpy and Pottawattamie counties.
The public cast a record 18,456 votes this year to determine the winners in four categories: Best Hotel, Best Restaurant, Best Attraction and Best Retail Business. The winners and runners-up for 2023 are:
Winner: Gene Leahy Mall at The Riverfront
Runners-up: Junkstock and The Durham Museum
Winner: Hotel Deco
Runners-up: Omaha Marriott Regency and Kimpton Cottonwood Hotel
Winner: Block 16
Runners-up: Monarch Prime and Upstream Brewing Company
Best Retail Business:
Runners-up: Nouvelle Eve and Mangelsen’s
Winner: Dreamland Theatre
Runners-up: Prairie Crossing Vineyard & Winery and Hitchcock Nature Center
Winner: Ameristar Casino Hotel
Runners-up: Hilton Garden Inn Council Bluffs and Country Inn & Suites
Winner: The Back Forty Bar & Grill
Runners-up: Garcia’s Family Mexican Restaurant and 712 eat + drink
Best Retail Business:
Winner: The Occasional Collective
Runners-up: The Unique Boutique Iowa and Sugar Makery BitterSweet Dessert Bar
Winner: Sarpy County Museum
Runners-up: Werner Park and Bellevue Berry Farm & Pumpkin Ranch
Winner: Holiday Inn Express & Suites Gretna
Runners-up: Fairfield Inn & Suites Papillion and Courtyard by Marriott Bellevue at Beardmore Event Center
Winner: El Vallarta Mexican Restaurant Gretna
Runners-up: Cafe Diem and Billy’s Gretna Cafe
Best Retail Business:
Winner: The Candle House
Runners-up: Robin’s Nest Springfield and Shadow Lake Towne Center
The OMA Tourism Awards are presented in partnership with the Council Bluffs Convention & Visitors Bureau, Sarpy County Tourism and Visit Omaha.
Grow Omaha Snippets
Grow Omaha Snippets Sponsored by:
Starting June 16th, Alaska Airlines will add a second nonstop flight from Omaha to Seattle-Tacoma International Airport, making for a total of 10 nonstops to Seattle each week. Meanwhile, Allegiant Airlines will begin new nonstops between Omaha and Austin, Tex. on June 15th.
Construction has gone vertical on the mass timber-built office building at 1501 Mike Fahey Street in the Builder’s District. Wood and steel beams are now being installed for what will eventually be a 4-story, 120,000 sq. ft., multi-tenant office building immediately south of Kiewit’s global headquarters.
The U.S. Department of Veterans Affairs plans to build a state-of-the-art VA clinic on the south side of Giles Road near 74th Street in Papillion, according to The Lerner Company.
White Lotus Development has announced plans to convert the old Civic Auditorium site downtown into Civic Square, a 9-acre mixed-use development. Th $200 million project is bordered by 17th, 19th and Chicago streets as well as Capitol Avenue. Plans call for 200 housing units, a grocery store, fitness club, retail bays and office space. Site preparation is expected to begin next year.
The University of Nebraska Medical Center’s primary care medical program remains among the top 10 in the country, according to the 2023-24 ranking of the nation’s top graduate schools by U.S News & World Report. The program was ranked eighth among 123 medical school primary care programs.
When will we hit 1 million? The Omaha metro population is now just over 975,000, according to David Drozd of Community Health Development Partners. In 2020, we thought the metro would exceed 1 million by 2025, but growth has slowed since the pandemic. “If the current growth rate continues, we won’t hit that until 2028,” Drozd said. “It’s likely that growth will rebound, but hitting that major milestone is delayed versus prior estimates.”
Sarpy County is Nebraska’s third most populous county and is currently growing at about 2,700 people per year, Drozd said. Home to Bellevue, Papillion, La Vista and Gretna, Sarpy County is expected to exceed 200,000 people by this July.
Grow Omaha Snippets are brought to you by Omaha Car Care with four metro area locations – 131st & Dodge, 58th & Center, 85th & L and 144th & Harrison.
Omaha Car Care “We’ll be along for the ride.”
Local Business News Sponsored by FranNet of The Heartland:
NAI NP Dodge commercial real estate company is moving May 30th from 12915 West Dodge Road to a 4-story office building at 13321California Street in Bank of the West Business Park.
Ryan Hahn, owner of the three Omaha locations of The Exercise Coach, has been named that company’s 2022 Franchisee of the Year. Hahn eventually plans to open additional locations in Papillion and Lincoln. The Exercise Coach has approximately 187 locations in 36 states.
Werner Enterprises, Inc. declared a regular quarterly cash dividend of $0.14 per common share, an 8% increase over the previous quarterly dividend rate of $0.13 common share. This dividend will be paid on July 19, 2023, to stockholders of record at the close of business on July 3, 2023. Werner has paid a quarterly cash dividend to its stockholders every quarter since July 1987.
Creighton University’s Rural Mainstreet Index expanded above growth neutral for a second straight month, according to the May survey of rural bank CEOs in a 10-state region dependent on agriculture and energy. May climbed to 55.8 from April’s 50.1. A reading of 50.0 represents growth neutral.
A report by OnDeck.com ranked Nebraska as the third lowest state in America for percentage of businesses owned by women. Only 15.79 percent of Nebraska businesses are woman-owned. Only South Dakota and West Virginia ranked lower. The highest rated states were Alaska (24.7 percent of businesses are owned by women) and Colorado (23.8 percent).
Sales of previously owned homes in the United States fell 3.4 percent in April from the prior month, according to the Wall Street Journal, the biggest decline in 11 years. On a year-over-year basis, April U.S. sales were down 23.2 percent
Americans are keeping their cars longer than ever, according to Associated Press. The average age of a passenger vehicle on the road hit a record 12.5 years this year. A big reason is the shortage of automotive computer chips.
This section is sponsored by FranNet of The Heartland, the local, trusted franchise experts. They are “in the business of helping you get into business!”
Grow Omaha Residential
Think Twice Before Waiting for Lower Home Prices
By Joe Finlay
If you’re thinking about selling your house, you should know the number of homes for sale right now is low. That’s because there are fewer sellers listing their houses this season than normal.
Looking back at every April since 2017, the only year when fewer sellers listed their homes was April 2020, when the pandemic stalled the housing market. This year, the number of sold units is down 35 percent compared to last year. Sold units are down almost 24 percent year-to-date. That’s because we have low inventory with just 0.7 months’ supply of existing homes on the market.
While there are a number of factors contributing to this trend, one thing keeping inventory low right now is that some homeowners are reluctant to move when the mortgage rate they have on their current house is lower than the one they could get for their next house. It’s called “rate lock.”
As a recent survey from Realtor.com explains, 56 percent of people who are planning to sell in the next 12 months say they’re waiting for rates to come down.
While this wait-and-see approach is right for some sellers, it also creates an opening for more eager sellers to jump in now.
If your current house truly doesn’t fit your needs anymore, and you’re ready to move, don’t miss this chance to stand out. When fewer sellers are putting their homes up for sale, buyers have fewer options. You can get the most eyes possible on your house at this time. Your house could get multiple offers as buyers compete over the limited supply of homes for sale – especially if you price it right.
If you’re ready to sell now, beat the competition before it comes onto the market. If you do, your house should stand out and could get multiple offers. Let’s connect to get your home market ready.
Grow Omaha Residential is developed and sponsored by Joe Finlay, REALTOR with NP Dodge Real Estate.
Grow Omaha University
Leadership & Sales Insights for Ambitious People
Sponsored by Dundee Bank
LEADERSHIP & MANAGEMENT
There are many attitudinal and behavioral qualities that characterize exceptionally high functioning executive teams, according to MIndSet, LLC, a Bellevue-based leadership consultancy. One of the qualities is “an inclusive sense of accountability for the entire enterprise – with individual egos tied to the whole, and a noticeable absence of silos within the operational structure.”
Some workers prefer the late shift. Here are the percentages of people, according to Fortune, who claim to be most productive between 6 p.m. and 3 a.m. – Gen Z (26%); Gen Y (18%); Gen X (13%); Boomers (6 %).
Business travel – Overall passenger satisfaction with the major airlines dropped significantly for a second consecutive year, according to J.D. Power. That said, jet-setters in first and business class rated the airlines substantially higher than everyone else.
Of the more than six million general workforce tests that Quest Diagnostics conducted for marijuana in 2022, 4.3 percent came back positive, up from 3.9 percent the prior year. It’s the largest marijuana positivity rate since 1997. Positivity rates last year for certain classes of opioids and barbiturates declined.
Sales metrics are important for setting your targets and are vital pieces of information for both sales reps and sales managers, according to best-selling author Anthony Iannarino. Some metrics you should look at consistently are pipeline velocity, conversion rates, customer acquisition cost, and customer lifetime value.
According to Ovation Sales Group, it takes an average of eight calls to reach a prospect.
If you want to improve your sales success, try focusing on “sales velocity,” which means you shorten sales cycles while increasing average deal size.
During the discovery stage, you want to find out your prospect’s timeline. Here are a couple good questions – “How urgent is this issue?” “What’s prompting you to act on this opportunity now?” “What’s your timeline for making a decision?” “How soon after implementing (your offering) would you expect to see results?”
“If you are not nervous about one or two decisions every day, you probably aren’t trying hard enough.” – Tim O’Shaughnessy
Founded in 2006 right in the heart of Omaha’s Dundee community, Dundee Bank is all about local ownership, friendly customer service, and supporting the needs of our beloved community. With nearly 100% of your deposits going right back into our neighborhoods, Dundee Bank is committed to fueling growth, enabling loans, and fostering stability for you and your neighbors. So why not open an account at Dundee Bank and discover what it means to truly support local?
Upcoming Events in the Metro
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Soaring Wings Friday Night Music: Out Loud on May 19: Get ready to rock! The Out Loud band is back and taking the stage by storm! This legendary rock & roll band from Lincoln is back with a bang, belting out tunes from the 60s all the way to today’s hits. Get ready to groove to their electrifying beats and let loose on the dance floor in your dancing shoes! Don’t miss the chance to catch them live in action at the stunning Soaring Wings venue. Bring your picnic blanket and chairs, kick back and immerse yourself in the ultimate live music experience!
Spring Market in Little Bohemia on May 20th: Come out for an epic season opener of the 1234 Market at the Little Bohemia Spring Market located on 13th Street! Brace yourself for an incredible lineup of vendors, delectable food trucks and toe-tapping music that will transform the sidewalk into a buzzing festival of sights, sounds and flavors. Be sure to mark your calendars and bring your family and friends for some local “funtivities!”
Yoga in the Park on May 21st: Immerse yourself in the blissful experience of Yoga in the Park, presented by Methodist Health System. Enjoy the backdrop of Turner Park at Midtown Crossing, this captivating event happens every Sunday from May 21st to July 30th at 4 p.m. Led by certified yoga instructors from Genesis Health Clubs, these outdoor sessions offer a variety of yoga styles, ensuring a dynamic experience week after week. Whether you’re a seasoned yogi or a curious beginner, all skill levels are warmly welcomed to join this transformative practice. Grab your water bottle and a comfortable blanket or mat, and prepare to find your inner balance and radiate positive energy in the heart of nature.
Late Nights at the Zoo (21+ Event) on May 25th: Experience the wild side of nightlife at Late Nights at the Zoo, where Omaha’s Henry Doorly Zoo and Aquarium invites adults 21 and over to indulge in an evening of drinks, local food truck cuisine and extraordinary wildlife. As the sun sets, explore the zoo’s enchanting grounds, surrounded by the mystical allure of nocturnal creatures. Gather your friends and unleash your inner child with an exclusive adults-only zoo experience!
Comedy Night at The Granary on May 25th: Get ready to unleash uncontrollable laughter as Comedy Night at the Granary returns with an all-new lineup! Headlined by the hilarious Corey Knox, accompanied by the comedic brilliance of Ashley Pontius and William Conway, this show is guaranteed to have your sides hurting with laughter. Hosting the night’s festivities is the one and only Doc Peterson, who will keep the energy high and the laughs rolling. Grab your friends, get ready to embrace the hilarity and make memories that will have you chuckling for years to come!
This Upcoming Events section is sponsored by Eagle Mortgage Company, is a locally owned and full-service mortgage company in Omaha.
Eagle Mortgage can help you realize your dream of owning a home.
People in the News
Sponsored by Baird Holm Attorneys at Law
NP Dodge Real Estate has welcomed new residential sales associates including Josie Salazar, Maren Lakers, Nicholas Davis and Paul Morehead.
Eide Bailly, a North Dakota-based public accounting firm with 40 offices in 15 states including Nebraska, has named Marc Behrens and Michael Hamaker as partners in the Omaha office.
Fusion, and Omaha-based medical staffing firm, has added two vice presidents to its leadership team: Dan DeVeney, vice president of Fusion Marketplace and Brian McCulloch, vice president of sales.
Harrison Financial Group has added three new team members: Emily Jung, J.D. is director of advanced strategies; Justin Rolfes is director of marketing; and Emily Wishman is an executive assistant.
Bailey Lauerman, an Omaha-based advertising agency, has added Cheryl Clifford as associate director of analytics. She has more than 12 years of marketing experience most recently with Yahoo.
Shawna Giguere has been appointed as vice president of workplace solutions service operations at Mutual of Omaha. She joined Mutual in 2023. Before Mutual, she held several leadership roles at Unum Group. She earned bachelor’s and master’s degrees from Husson University.
Wall Street: The Week in Review
with George Morgan
The author is founder of Morgan Investor Education of Omaha.
Sponsored by Baird Holm Attorneys at Law
Views and opinions expressed herein are solely those of the author.
The traditional barometer of Mr. Market’s mood is the S&P 500. This choice makes a great deal of sense. It contains 500 companies. It’s arbitrary because it does not favor one industry or investment approach over another. It’s easily accessible to the investing public. And, finally, it contains stocks that are liquid.
The stock market is not monolithic. There are multiple participants and factors that impact its pricing mechanism.
While the S&P 500 is the index of choice, the CNBC talking heads often refer to a broader market which includes the NASDAQ and the Dow. All three indexes tend to move in lockstep in the same direction. However, the magnitude of the move – in both directions – can vary greatly.
There are times when one factor dominates Mr. Market’s attention. Recently, that 900-pound gorilla has been the banking sector. Or as CNBC refers to it, the “banking crisis.” In the past few weeks, we have seen regional banks bounce around more than tin cans following the wedding party’s car. The reverse of that is that the big Wall Street money center banks have moved significantly to the upside.
The reason I’m yammering on about this is because it has had a major impact on the market’s direction and on the relative magnitude of the movement of the three indexes. The Dow has experienced relative calm because it contains only two of the money-center banks.
The movement of the S&P has been greater to the upside than that of the Dow because it contains a plethora of regional banks as well as several big money-center banks. Because of their large market cap weighting, the money-center banks have greater influence over the index than do the regional banks. The NASDAQ 100 has had the largest upside movement because it excludes financial institutions.
While it is important to avoid the needles and buy the haystack, it is also important to pay attention to which haystack to buy. The conventional wisdom is that index-fund investing is passive, but there’s no reason why individual investors can’t adopt an active approach by buying and selling multiple index funds.
Looking forward towards the weeks ahead, Mr. Market appears to be getting over his fixation on the bank crisis. At the Berkshire annual meeting, Buffett declared an end to the banking crisis that never was.
Mr. Market’s next move is to find a new form of Armageddon to fixate on. The battle over raising the debt ceiling appears to be waiting in the wings as a contender for the next crisis de jure.
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