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

None1257 Wrote: Dec 12, 2012 12:43 PM
How many people believe that if they reach an agreement, that will solve the problem? How many people believe that if they do reach some sort of agreement, that ten years from now our National Debt will be lower than it is today? What was the goal of all of this? To solve the problem for now, or have a permanent solution to the problem?
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:...