Skip to comments.Wall St.ís post-election case of the willies
Posted on 11/09/2012 7:01:46 AM PST by SeekAndFind
The Wall Street crowd here in New York isnt buying all the happy talk from Washington pols about how theyre ready to compromise to avoid the fiscal cliff.
What gives them pause? Take a really close look at Tuesdays election results.
For the markets, President Obamas victory and the outcome of the House and Senate races represent a worst-case scenario: a deeply divided government with both sides claiming that neither has a mandate.
With that, gridlock and the fiscal-cliff scenario of economically crippling tax increases and budget cuts is not just possible but likely.
At least thats what the markets are saying, particularly on Wednesday with the 300-plus-point plunge in the Dow. Who knows maybe cooler heads will prevail, allowing the president and congressional Republicans to reach a grand bargain that avoids the doomsday scenario set for the first of the year.
Republican House Speaker John Boehner has publicly stated that hes willing to compromise, and privately, hes telling people he wants a stop-gap deal that avoids the fiscal cliff while he and Obama work on a broader overhaul of the tax code which even the president has suggested he supports.
But heres why many investors I speak to and the markets in general are wary and preparing for the worst: Obama is regarded in the financial world as among the least economically sophisticated presidents in years, and he remains deeply committed to his broader agenda of making America look more like France.
In meetings with executives, its difficult to pin down exactly what economic policies he truly supports, apart from an expansive federal government and higher taxes to pay for it. And he remains in power after running one of the most divisive races in recent memory, particularly on economic matters.
(Excerpt) Read more at nypost.com ...
We're not wanted any more.
I would guess if Romney had won themarket would be up as much as 1000 points. Of course he is a capitalist and Hussein is a communist, so capitalists markets would naturally have an adverse reaction.
My version of going Galt, get mine while the getting is good, get my ebt card my obama phone food stamps free health care, where is it I want it now!!!! Screw the cliff, those crackers can kiss my white a$$. Eat the rich, who needs um! Let George Soro’s have his empire! It will be an empire of slaves, surfs, and the dead with the devil himself standing on a mountain of screaming souls hungry and looking for someone to blame, but there’s no one left!
“Republican House Speaker John Boehner has publicly stated that hes willing to compromise, and privately, hes telling people he wants a stop-gap deal that avoids the fiscal cliff while he and Obama work on a broader overhaul of the tax code which even the president has suggested he supports.”
How surprising. The Republicans want a stop gap deal.
We’re not wanted any more.
That’s the sentiment among my circle of friends and family.
Just do enough to survive seems to be the consensus. And if you lose your job apply for every program you can.
How much money did the Wall Street crowd in New York contribute to the dems ?
Obama still flush with cash from financial sector despite frosty relations
I just can’t feel sorry for these people as they helped fund the lunatics that are going to kill them .
Exactly, wait ‘till they turn on each other, it’s coming, sooner rather than later, God’s wrath is slow but it is sure, the whore is drunk on power and caused by her own iniquities!
Exactly, wait ‘till they turn on each other, it’s coming, sooner rather than later, God’s wrath is slow but it is sure, the whore is drunk on power caused by her own iniquities!