Harbinger Posted December 31, 2012 Share Posted December 31, 2012 Looks like there will be no vote by monday which could be fantastic news. Let the taxes raise and the cuts begin. This is what they should have been looking forward to the whole time. You can tell it's a good idea because both the Dems and the Republicans both hate it equally. Link to comment Share on other sites More sharing options...
nuckin_futz Posted December 31, 2012 Share Posted December 31, 2012 Plunging the world's largest economy (and our largest trading partner) back into recession is hardly fantastic news. They're close to a deal. Income tax will only be going up (back to the rates during the 90's) on households with income +450,000 and individuals with income +400,000. On this much they have agreed. I love how all those donkeys (Boehner, Reid, McConnell, Pelsoi) have to have daily press conferences. Be a shame when that's over. The volatility it's brought to the markets has been much appreciated. Link to comment Share on other sites More sharing options...
Harbinger Posted December 31, 2012 Author Share Posted December 31, 2012 Plunging the world's largest economy (and our largest trading partner) back into recession is hardly fantastic news. They're close to a deal. Income tax will only be going up (back to the rates during the 90's) on households with income +450,000 and individuals with income +400,000. On this much they have agreed. I love how all those donkeys (Boehner, Reid, McConnell, Pelsoi) have to have daily press conferences. Be a shame when that's over. The volatility it's brought to the markets has been much appreciated. Link to comment Share on other sites More sharing options...
Harbinger Posted December 31, 2012 Author Share Posted December 31, 2012 http://news.yahoo.com/house-wont-vote-midnight-cliff-deal-211949556--politics.html House won't vote before midnight on 'cliff' deal WASHINGTON (AP) — The House will miss the midnight Monday deadline lawmakers set for voting to avoid the "fiscal cliff." House Republicans notified lawmakers that the chamber will vote Monday evening on other bills. They say that will be their only votes of the day. President Barack Obama and Senate Republican leader Mitch McConnell said Monday they are near a deal to avoid wide-ranging tax increases and spending cuts — the fiscal cliff — that take effect with the new year. Both men said they were still bargaining over whether — and how — to avoid $109 billion in cuts to defense and domestic programs that take effect on Wednesday. It remained unclear whether the Senate would vote Monday. Congress could pass later legislation retroactively blocking the tax hikes and spending cuts. Link to comment Share on other sites More sharing options...
nuckin_futz Posted December 31, 2012 Share Posted December 31, 2012 Let the markets take a hit, It'll adjust. That's what everyone always says. The markets will take care of themselves. That's what needs to happen. Volatility in the market can be taken care of it they want to. Make all transactions grace for 7 business days. That will remove a lot of speculators and remove a lot of volatility. You have to hold onto anything you buy for a minimum time. Get the casino antics out of the game. Link to comment Share on other sites More sharing options...
nuckin_futz Posted December 31, 2012 Share Posted December 31, 2012 http://news.yahoo.co...--politics.html House won't vote before midnight on 'cliff' deal WASHINGTON (AP) — The House will miss the midnight Monday deadline lawmakers set for voting to avoid the "fiscal cliff." House Republicans notified lawmakers that the chamber will vote Monday evening on other bills. They say that will be their only votes of the day. Link to comment Share on other sites More sharing options...
Electro Rock Posted December 31, 2012 Share Posted December 31, 2012 This might have helped if it had happened in 1996 or something, otherwise its just a matter of delaying the inevitable. Link to comment Share on other sites More sharing options...
Harbinger Posted December 31, 2012 Author Share Posted December 31, 2012 The market has been artificially supported by the Fed for more than three years. They have no interest in seeing it fail. They have taken care of volatility, they have effectively killed it. The volatility index is laying in the gutter. Volatility is a healthy thing. It's weeds out the weak hands and aids in true price discovery. A minimum holding period of 7 days? With all due respect that is absurd. You would kill the industry overnight. Volume would drop by +95%. There would effectively be no bids or offers. When your investment in XYZ mutual fund (which would be holding for more than 7 days I presume) went to sell it's position the slippage it would receive would curl your hair. The more participants/volume in the market the fairer the prices are. As for the casino antics. The stock market is nothing but a casino. That's the way it's set up. You want to invest, that's what GIC's are for. Link to comment Share on other sites More sharing options...
key2thecup Posted December 31, 2012 Share Posted December 31, 2012 It doesn't matter........ It doesn't matter if you "cut" proposed baseline increases in the budgets, it doesn't matter if you "raise" taxes. The US is trapped in a black-hole of debt. $17 TRILLION conservative figure not including the derivatives debt. Link to comment Share on other sites More sharing options...
Harbinger Posted December 31, 2012 Author Share Posted December 31, 2012 It doesn't matter........ It doesn't matter if you "cut" proposed baseline increases in the budgets, it doesn't matter if you "raise" taxes. The US is trapped in a black-hole of debt. $17 TRILLION conservative figure not including the derivatives debt. Link to comment Share on other sites More sharing options...
The Hornet Posted December 31, 2012 Share Posted December 31, 2012 'Merica Link to comment Share on other sites More sharing options...
Mr. Ambien Posted December 31, 2012 Share Posted December 31, 2012 No worries guys, they've got two months past this utterly hyped sensationalist "fiscal cliff" until the threat of defaulting looms. Plenty of time for Congress to figure out ways to carve a finer slice of the US's debt pie as profit amongst themselves and their friends. Link to comment Share on other sites More sharing options...
nuckin_futz Posted January 1, 2013 Share Posted January 1, 2013 It would all just sort itself out. People would get out of the market and it would become the long term tool it was supposed to be rather than the short term tool it has become. Volume isn't important in the market. Stability is what is important in the market. The more stability the more effective it would become. If a person told you they were taking their savings to the Casino so they could invest it in Black Jack you would laugh at them. The same thing is happening in the markets these days. People are stuck in the instant gratification racquet, only they think they are making better decisions because they are doing it in the Market with poker chips called their life savings. Let the Markets become a smaller percentage of the economy and allow working be the driving factor for it. Link to comment Share on other sites More sharing options...
theminister Posted January 1, 2013 Share Posted January 1, 2013 It doesn't matter........ It doesn't matter if you "cut" proposed baseline increases in the budgets, it doesn't matter if you "raise" taxes. The US is trapped in a black-hole of debt. $17 TRILLION conservative figure not including the derivatives debt. Link to comment Share on other sites More sharing options...
Squirrels.Gone.Wild Posted January 1, 2013 Share Posted January 1, 2013 CNBC @CNBC BREAKING: Senate Democratic aide: White House and GOP reach deal on fiscal cliff. Link to comment Share on other sites More sharing options...
key2thecup Posted January 1, 2013 Share Posted January 1, 2013 Once the comptroller starts adding in indemnities the figure gets closer to 100 trillion. All the while they have been deflating the value of the US dollar at the same time by giving away trillions to international banks. They should just sell Texas to Dubai. Problem solved. / Seriously though, the break-up is coming. Link to comment Share on other sites More sharing options...
theminister Posted January 1, 2013 Share Posted January 1, 2013 Yeah, I don't think Dubai even has enough $ to do that. Break up? I don't know think so. If anything they will hyper inflate the currency and pay off the debts to other nations/corporations whatever, the rest will be written off. Millions will die from starvation (in the US alone), the world would go into a full fledged depression, Canada would be hit severely. There will be abject poverty for the masses with a very few remaining wealthy. It would take decades to recover. Link to comment Share on other sites More sharing options...
Mr. Ambien Posted January 1, 2013 Share Posted January 1, 2013 You describe pretty much the scenario that I think will need to happen to make it a forgone conclusion. The monolith that is the US government can't keep this up, methinks. In times of structural distress empires tend to either expand or break up. Link to comment Share on other sites More sharing options...
Buddhas Hand Posted January 1, 2013 Share Posted January 1, 2013 You describe pretty much the scenario that I think will need to happen to make it a forgone conclusion. The monolith that is the US government can't keep this up, methinks. In times of structural distress empires tend to either expand or break up. Link to comment Share on other sites More sharing options...
Harbinger Posted January 1, 2013 Author Share Posted January 1, 2013 Praying that they postpone till its too late. . Link to comment Share on other sites More sharing options...
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