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

My ballpoint pen Wrote: Dec 11, 2012 2:06 PM
yes
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:...