Posted on 11/16/2012 8:47:43 AM PST by Hojczyk
Stocks traded in the red Friday as investors were skeptical that the meeting between President Barack Obama and congressional leaders would lead to significant progress on the looming "fiscal cliff."
“This fiscal cliff situation is very dire and probably will go down to the last minute like what happened with the debt ceiling talks,” said John Fox, co-manager of the FAM Value Fund.
Traders were initially encouraged ahead of the market open after White House officials were said to be in discussions to replace the so-called sequester—a slew of spending cuts that along with tax increases will take place automatically at the end of the year and likely put the U.S. into recession—with a package of smaller, more targeted spending cuts and tax increases, according to the Wall Street Journal.
But as the hour-long session started, investors remained doubtful that the discussion would yield much in the way of tangible results.
(Excerpt) Read more at cnbc.com ...
I guess we raise taxes and never cut government spending..when will it crash???
Don’t these knuckleheads realize there’s gonna be a “kick the can down the road” agreement that makes Wall St feel all warm and fuzzy??? All the while not even seriously addressing our fiscal problems.
Obama&Co have taken the country to the fiscal cliff and now they are reasy to push us over.
The fall in stocks if across the board in very high volume. The coming destruction of free enterprise is in obamugabe’s sights. Bringing down the US economy is his goal and we must stand by and watch this monster solidify his power over America. Hate for America, hate for whitey, hate for the self-starter, and hate for decency and conservatism. Bo is the hate minister with the smile of a vengeful and very disturbed human.
He looks like such a bully boy.
It’s gone down every day, 800 points since Nov. 6!
We reap what you sow, blue America.
Who exactly is it that thinks it would be a bad thing if everyone knew there was a day coming in a few weeks or months when the Federal government couldn't spend any more money?
The Federal Government.
Its going to be a long cold winter.
here’s hoping the Gnawtheners that gave us another 4 yrs of certain decay freeze their Obamunnistic collective @sees off.
Yep.
The deficit will still be trillion dollar plus as far as the eye can see, AFTER whatever deal they come up with.
Simple Solution:
Co, Va, Oh, Pa, Iowa and Michigan can jut switch their electoral votes.
Will there be mass riots? Yep.
Is it easier to clean up after a riot than a total economic meltdown? Yep.
Hedge fund margin calls, in the case of Apple. Today was the bottom. Having said that, pull up a chart of the 2000 crash. I think we will repeat that. Up a day or two on light volume, followed by 5 heavy down days. Repeat. Short the rallies.
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