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No Cliff Calamity: That’s What Stocks Are Correctly Predicting

jwilson804 Wrote: Dec 12, 2012 7:39 AM
Who are we kidding? It's all settled and Obama gets what he wants.(He always does.) Boehner has given in and the rich will be taxed more. Boehner wants the american people to think he is working so hard to fight Obama over the tax increase but we all know better. He is a wimp!! What will the GOP get out of this? Just promises that will be broken. Obama is real good at breaking promises. Mark my word,this will happen or something very semilar.
Despite all the media hullabaloo about the fiscal cliff and a potential recession if none of the Bush tax cuts are extended, stock markets have behaved calmly throughout this whole period. In fact, as of this writing today, the Dow is up 100 points.
I’m going to guess that stocks, in their wisdom, are correctly sniffing that there will be no calamitous falling off the cliff. By that I mean there will be no $500 billion tax hike, which would be an economy killer.
Instead, after speaking with prominent Republican House and Senate members, I have come to believe the following:...