Per Obama presser - "....wealthy aren't paying as much as they should" Class warfare 101....that is not leadership along any dimension.
BT, The pessimistic side of my personality tells me that as the Democrats and Republicans in Congress are so polarized, Congress will jump off the cliff on 1/1. If so, what is your prediction on the impact of that upon the market?
Bobda Jim told me to hold on tight its going to be a bumpy ride.... leaving our stocks alone but if we find a buy we will buys left cash to cover the tax's or stocks if they go low enough.... :wink: wontr be making any major purchases in next 4 years there goes my new house.
If they all go and administration follows them, I predict an overwhelming surge in favorable sentiment and the markets will respond in kind! The ultimate term limit.... In all seriousness, I'm not optimistic and the lack of leadership on both sides of the aisle has created a great deal of uncertainty in the capital markets.....and markets don't like uncertainty. If the "cliff" compromise - provided there is one - does not result in meaningful curbs in spending and begins to address the structural entitlement issues, the outlook is not positive for the economy and therefore investors. A massive tax increase on top of those pending, will see a sharp market correction. From a longer term standpoint, if we continue to see an inability for our political leaders to work together to address the massive problems that are staring us in the face and for which time is running out to continue to "kick the can", the hole from which we will be forced to dig ourselves will take generations and will see us removed from the throne as the world's economic power and threaten our national security.....our current position is precarious enough as it stands
Brief observation from the presidential presser, market continued to drift lower as he spoke and found it's lows for the day as he finished.....not inspiring a whole lot of confidence from the capital markets
Diane and BT, Thanks for your replies. Re the new home? Jo Co and you should flee the People's Republic with Jo Co finding a teaching job in Indiana ( but not NW Ind!). He would be closer to his beloved university and you could buy a palace in Ind. for what one pays for a modest home in Cali and not be bludgeoned by state taxes. Best run state from a fiscal standpoint in the Midwest.
So here is your pied piper that desires to lead everyone off the cliff just to prove his political point: http://www.inquisitr.com/390616/speaker-john-boehner-says-gop-wont-budge-on-tax-increases-for-the-wealthy/ What good would spending cut proposals do if they do not lead to any compromise effort from the GOP?
Boehner is not the chief executive....it is the job of the chief executive to lead and engaging in class warfare ala for the past 4 years and continuing to do so is not leading anything.... Boehner has already gone on record as saying the House is amenable to revenue increases, let's see some leadership from the President along something other than ideological grounds.........for once.
So the House expects hard pressed families out of the 47% to pony up? Is that truly a realistic expectation? Or is it a "get even" mentality? Jeezus some people are so far removesd from what it really takes just to get by in America anymore. I'll guarantee you the GOP will alienate enough of what base they have left in America if they pushed tax increases through on the middle class because finally the dimmer wits in that base would wake up and realize just what party it is that is putting the screws to em.
Apparently a majority of Americans think that the blind clown steering the ship of state is doing a great job. They're apparently happy with the way things are.
So does the GOP want spending cuts only to do the job or are they stuck on bleeding the middle class who cannot afford it for more revenues?
Bend over.......the fiscal cliff is falling down. I must have missed the part about spending cuts??? http://www.bostonherald.com/news/us_politics/view/20121114obama_pressing_business_and_labor_on_fiscal_cliff/srvc=home&position=recent
Personally, I think 5% spending cuts only scratches the surface of government waste. I'm for getting rid of entire departments starting with Education.
Flee the People's Republic? Moi? Surely you jest. My union (CTA) has this state locked down tighter than a gnat's ass. My son Eric is a Teamster and they have the transportation system gridlocked as well. If the whole state finally grinds to a halt, I'll just go on strike...
:lol: :lol: :lol: :lol: :lol: OMG this looks just like Jim.... Boda Jim would never leave his grandkids.but we have thought about Indiana more than once we love Northern Indiana and we would love being close to our"other family" PS I dont think Jim could get into a hammock the mere thought makes me chuckle :wink: