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Hurrah for the Fiscal Cliff

johnm h Wrote: Nov 10, 2012 8:39 AM
We probably do not face a fiscal cliff and cannot count on it to give Obama his comeuppance. The stock market predictably declined because folks who had a good ride are taking profits before taxes increase next year. It isn’t a harbinger. Nor will the super wealthy or big corporations suffer as they are big enough to have influence on an increasingly centralized government. The Fed is financing the takeover, enriching influential banks but a stagnant economy among small and medium business will keep that money base from ballooning into credit and a rapid expansion of the money supply. Stagnant economies stagnate; they don’t rapidly grow or decline. We face a far more serious problem than an unlikely fiscal cliff.
johnm h Wrote: Nov 10, 2012 8:49 AM
Obama welcomes the decline of small and medium sized business. Similarly his attack on the Church and religious freedom; business too small to buy themselves waivers, and religious groups resist authoritarian rule and are always pursued by fascists, progressives, and similar centralizers because they defuse power and resist official ideology.
Greg1084 Wrote: Nov 10, 2012 9:17 AM
Your second sentence probably hit a nail on the head. Much of that was probably boomers taking gains and putting them into safer annuities so they can breathe a little easier in the coming storm.

The market continues in its new role of town crier, instead of seer of all things. This is an Oracle that only understands the parameters. In this case, the parameters are clear. If we go off this fiscal cliff, we all perish. Ironically, it's not the recession that comes with the draconian triggered by inaction, but the fact that our leaders let us down, once again.

While President Obama has won the election, he could still lose the war - big time. It is my feeling that the President prefers to have a legacy that speaks to progressives for centuries....

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