Skip to comments.Investors Fear More Than Just a 'Fiscal Cliff'
Posted on 11/07/2012 6:58:35 PM PST by Perdogg
The Dow plunged 313 points yesterday, but dont believe news media reports that it was the nearness of the fiscal cliff that caused the selloff. What spooked investors is a bigger picture that recognizes the economically catastrophic implications of a second Obama term. To be clear, there is nothing Romney could have done to avoid the deflationary Depression that lies ahead. However, a Romney presidency might have at least served as a reality check on malfeasant fiscal practices, delaying the onslaught of hard times for perhaps long enough to allow Americans to put their financial houses in better order before austerity is imposed on us with the force of an earthquake, as it has been on Europe.
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Most funds have no place else to go. Bonds don't pay a thing. Also, because the largest companies are multinational they can offset slower earnings growth here with better growth overseas. The stock markets don't reflect main street.
Blame John Roberts of the SCOTUS.
MSM is so asinine and hypocritical in blaming the Wall Street drop today on Europe. Heck the market had a very nice rally on Monday when Romney’s crowds looked encouraging.
The European situation has been known for months if not years. So why market crashed the first trading day after Obamao gets re-elected? It is so obvious!!!
We bitter clingers are in the western part of the state...
The problem is in the east.
To be honest...I find myself wishing pain and suffering on this country..for what it did last night it deserve it..
Sorry smoothsailing. I know that...just feeling frustrated.
I know, it’s a lousy mess. Be well, stay safe. :)
Perhaps we should propose to have independent Congressional
districts be their own self government.
I wonder if an innovative Congressman could do it for their own CD.
They would balance their own federal budget. The taxes taken from
by the constituents would have to balance the benefits to their district
plus essential federal services.
They would then have to start with 1) National defense
2) Security agencies
3) White Hut, House and Senate, DOJ
We should make a spreadsheet of each CD.
Nancy Pelosi probably gets the most cash benefits and pork to her district.
It would probably be impossible because we would have to track every
federal agency and program and track to each CD.
I wonder if any one has done it???
The stimulus web site was a disaster.
I think this would show clearly that every majority nonnative legal and
illegal district would have Sec. 8, Food stamps. Medicaid.
But we also need the mortgage interest deduction, the Tuition tax credits
and more higher income subsidies that people take advantage of
like 401k and health insurance subsdidy.
Stock traders contribute nothing to the economy. The market is down today then all the better for the bottom feeders tomorrow.
Obama has so damaged our economic future that any administration following him will have ZERO fiscal or monetary flexibility with which to deal with the situation they face.
Higher taxes, inflation and violence are the historical outcomes. Failure will be a certainty, as will economic hardship and civil unrest.
Obama has a problem alright, his policies. Now it’s our problem too, and it’s just around the corner. Get ready....