Skip to comments.Markets Just Slipped After Senator Reid's Comments
Posted on 11/27/2012 12:59:10 PM PST by blam
Markets Just Slipped After Senator Reid's Comments
Nov. 27, 2012, 2:29 PM
Markets have been quiet for most of the day.
But in the last few minutes, we've seen stocks lose their legs.
Bloomberg is reporting that Senate Majority Leader Harry Reid said little progress has been made regarding fiscal cliff negotiations and that he was "disappointed."
If Congress is unable to make a deal, a series of tax cuts and spending programs are set to expire by the end of the year, potentially cutting 2013 GDP by as much as 5%.
(Excerpt) Read more at businessinsider.com ...
Time for the House to TURN OFF THE F’ING CREDIT CARD.
Promised my wife that we would stop listening to talk radio, politics on TV, etc., if we lost. Still watch Fox and Friends in the morning (local news is just terrible) but that is it.
Don't really miss it. Kind of feel like they all yanked my chain - especially Rush and Hannity.
So let's see. When the Dem Congress replaced the GOP in Congress in 2007, unemployment was at 4.4%, but the collapse that happened a year later was Bush's fault. The fact that it was the Democrats who promoted the policies that caused the housing mess and blocked the GOP from preventing it is conveniently ignored.
Now, with the Democrats in control of the Senate and White House, if the economy collapses again it will be the GOP's fault for not taxing the rich more, never mind that their tax bracket is over twice the rate of those making the median household income, and 47% pay no taxes.
OK, I got it.
The more disappointed he is, the better for all of us - especially in the long run.