Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
My estimate is 2000-3000 point hit on the stock market as soon as the employment situation reverts back to negative trend, which will happen if we hit the cliff. Lay-offs would be unavoidable, especially in the public sector. Spending cuts = lay-offs. The sell off would start in January and last all year, a slow painful leak in everyone's 401Ks. A lot of people are re-adusting their portfolios in preperation for a bad year in the market.
Then you best move your money from stocks to the stable fund.
Unfortunately for you, the majority of Americans seems to see it quite differently. They see this as yet another GOP move to undermine the president, consequences be damned. Sort of the "the end justifies the means" approach republicans have embraced for a while now.
Somehow, the GOP is under the impression that people will buy into this nonsense and turn on a president who has made any reasonable effort to broker a deal while republicans have basically put up a concrete wall, hoping that Obama would smash his political head in.
Letting the country go over the fiscal cliff is, in their eyes, a blessing because they hope to attach the blame exclusively on Obama. Along the lines of "See what happened under Obama?"
As always, they have been very successful in convincing the gullible members of our nation who lack the ability to peek past their ideological blinders.
Well said.
And when people say they expcted a Mitt Romney presidency, that changes nothing. The Senate is still controlled by the Democrats, and they would not allow this bill to pass, and let's not forget if Romney WERE elected, he isn't even inducted until January 20th, well after this sequestrian goes into effect.
The GOP is playing the blame game of politics, wasting time and stalling hoping the president will cave and not want a black mark on his record, but what they fail to realize is the opinion of the MAJORITY of the American people, who have said in polls that they favor higher taxes on the wealthy as a way to draw down the defecit.
No one honestly thinks raising the top 2%'s taxes will pay down all our debt, but coupled with spending cuts and revenue increases we can draw the defecit down. It's not a one way approach, both measures are required to address this problem. The ball is in the house now, it's their play to save the country and their reputation as well as their own jobs come 2014.
So far, their idea of how to play ball seems to amount to "grab the ball, run away with it, and tear it to shreds". Apparently my spaniel taught them their politics.
They grab the ball and kick it over the fence so no one gets to play.
Yes, indeed, but the problem is that no one knows if there will be a deal or not.
Well that's how one does Wall Street trading. You don't wait until AFTER the fact.
That's what the herd does...and we saw how that went over with 401Ks.
I moved my money when the first brokerage went down..Lehman or Bear (I forget which one).
I didn't wait until the crash was "confirmed" like many others did. By then it's too late.
One can always move back to stocks. But it not a bad thing to sit on the sidelines if you think bad times are a coming.
There is nothing here that cannot be addressed in January, retroactive to 1/1/13.
Obama's hand will always be stronger, but as time passes, the weaker it gets.
The Unemployment Extension is a huge deal for the Democrats. My prediction is once this gets brought to the forefront, the deal gets done more quickly.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
False Sense of Urgency ?
