Skip to comments.Stocks tumble as fiscal cliff deadline nears
Posted on 12/25/2012 1:13:07 AM PST by Olog-hai
U.S. stocks sank Monday as investors remain concerned that officials in Washington will fail to resolve a looming fiscal crisis.
The Dow Jones industrial average fell 0.4%. The S&P 500 and the Nasdaq both lost about 0.3%. U.S. markets closed at 1 p.m. ET and will remain dark Tuesday for the Christmas holiday.
With time running out, investors are increasingly concerned about the lack of progress in talks over tax hikes and spending cuts set to kick in automatically on Jan. 1, known as the fiscal cliff.
(Excerpt) Read more at money.cnn.com ...
How about for the new year "we the people" defund the beast.
Scrap every f'en one of them and start by sending statesman & stateswomen to Washington.....
My father once told me that if you don't have money, you can't afford anything.... a frickin lesson these idiots can't seem to grasp
Representative government no longer works. Scrap the constitution and start over.
If the underlying denomination is dollars instead of something neutral like grams of gold, it’s hard to see how hyper inflation will NOT hit that market.
This has the net effect of increasing prices, allowing companies to raise capital (ha) by selling stock.... Either the Stock will increase or the money will eventually be devalued or replaced with another Trade Zone currency such as an American Dollar to replace the USD at a different rate favorable to latin and south American economies of scale.
What really sucks is that while jobs and economic activity is not supporting the current stock market valuations, the government has skewed the valuations with blind purchases. The USG is putting over 1% of the currnety money supply into new money every month - without actual economic activity to create it; this new economy will eventually crash somewhere for some country(s) and destroy them. The G7/8/9 countries are actually, in concert together, printing a like amount of money for each economy/currency which keeps exchange rates stable - but a country such as Greece has up markets which it should not which is evidenced by a combination of loans, grants, gifts by write offs (hair cuts) and printing money. This is why th eNASDAQ is up 4K points in 4 years rather than down a similar amount - economic activity and profits are not the basis of stock values anymore but rather by the accumulation of newly createc money by the Governments thru fiscal policy.
It will result in inflation.
When the Press, our exalted media, starts laying the blame for the cliff we will go over, Let us all remember who signed it.
The Constitution works just fine. We need to stop IGNORING it....
Blame games are risky and can backfire.
If national dialogue went beyond sound bites, it would be an occasion for great wising up. Never before has more data with less meaning been available to the common American.
The Constitution is fine... it is the POS politicians that have abdicated their responsibilities for material wealth that has corrupted the country, you can add unions and the *PC types.
*PC stands for PARASITE CLASS, not politically correct.
The manage the Constitution, it is their guidebook. If you read the debates and discussions of the Constitutional Convention, it is abundantly clear that our current government and constitution bear nothing in resemblance to the government and constitution of those days. Both are too far gone to save in my opinion.
Exactly what is it about the constitution that you think WORKS? The constitution as originally written hasn’t worked for over a century.
President Santa still causing fear only four more years of it and spending.
Looks like 1Q13 will be a long term buying opportunity.
Buying opportunity for shorts?
I never short...I’m not smart enough. I see long-term opportunities in a Q1 dip. the problem is that I would normally look for stocks that pay solid dividends but who knows how those gains will be taxed? Right now I’m looking at energy sector transport entities like EPB.
The adage “it can always be worse” comes to mind as I shudder imagining how a country that elected obama twice would rewrite the constitution.
I hear ya. But if they are just going to ignore it and make court rulings around it, then it just becomes a worthless relic.