Skip to comments.Citi: The Fiscal Cliff Is 'SO RIDICULOUSLY LARGE'
Posted on 05/01/2012 5:43:13 AM PDT by blam
Citi: The Fiscal Cliff Is 'SO RIDICULOUSLY LARGE'
May 1, 2012
A quick paragraph from Citi's Steven Wieting which we found amusing, the gist of which is basically: The fiscal cliff coming in 2012 is so big, it's good, because it will have to get fixed.
The size of the so-called fiscal cliff at year end, which would unwind a decades worth of tax cuts and temporary income supports, is so ridiculously large relative to near- term growth prospects that markets may take some comfort in its scale. As Fed Chairman Bernanke warned Congress, the Fed would have no chance of offsetting an instantaneous shock so severe and noted he was hoping Congress would take action.
Wieting goes on...
The combined size of the year-end fiscal cliff implied in current law seems so flatly ridiculous relative to near-term growth prospects, that markets may in fact be feeling some calm that the resolve to once again delay and diffuse it will be found. In late 2010, figure 1 looked substantially the same before fiscal tightening pains were delayed to the period beyond the November 2012 elections. Since then, the size of the cliff grew with prospective spending cuts. Yet some doubt should remain, and we gather build at some point as to whether Congress and the President will be too divided to find an alternative to current law, particularly before the year is out and the new Congress is seated.
Here are the two charts showing the ridiculous changes in tax receipts and federal consumption.
(Excerpt) Read more at businessinsider.com ...
You need to read Revelation 18 more carefully.
Mystery Babylon, both secular and ecclesiastical, will be crashing soon, without W or the Kenyan doing anything.
You need to get ready yourself; are you a ‘Wise virgin,’ or a foolish one?
Do you know what to look for, and WHEN to look for it?
Your post tells me that you do not.
>> “In a very real sense, we are all on our own.” <<
If you are on your own, then you are NOT one of YHWH’s elect.
Are you watching for the abomination? Do you know what it will be? WHO it will represent?
Keyboard economists are as useful as the crew of the Titanic was as the water approached the floor of the Bridge.
What do you expect with economists like Reich and Krugman.
Whenever I hear “Wise Virgin”, “Wise as snakes”, or “YHVES elect”, I know I’m very far outside the beaten track of rational thought. Or even just thought.
As I perceived, you are simply one of the lost, as your post indicated.
No wonder you’re thrashing.
—Are you watching for the abomination? Do you know what it will be? WHO it will represent?—
Does the Pope wear a funny hat?
i.e. I’ve been studying it since 1983.
We’ve kicked the can so far down the road that we are running out of road and can which was once the size of a soft drink can is now the size of an oil drum (Try kicking that!
For those who are just starting or are old hands at prepping you may find my Preparedness Manual helpfull. You can download it at:
NOTE! THIS IS A FREE DOWNLOAD. I DO NOT MAKE ONE CENT OFF MY PREPAREDNESS MANUAL!
For those of you who havent started already its time to prepare almost past time maybe. You needed to be stocking up on food guns, ammo, basic household supplies like soap, papergoods, cleaning supplies, good sturdy clothes including extra socks, underwear and extra shoes and boots, a extra couple changes of oil and filters for your car, tools, things you buy everyday start buying two and put one up.
As the LDS say When the emergency is upon us the time for preparedness has past.
Or as the bible says: A prudent man sees danger and takes refuge, but the simple keep going and suffer for it.
NIV Proverbs 22:3
Lastly this for the doubters and the scoffers.
There is no greater disaster than to underestimate danger.
Underestimation can be fatal.
and Pauly doesn't give a hoot about any of that....legal porn...legal drugs...legal prostitution...homos doing whatever they want to whoever they want.....
have character and values and morality and it doesn't matter if the economy goes ballistic or we have world war....WE WILL SURVIVE!
yeah, but don't vote for Romney...no just keep obamey in there...
yep...that's the ticket...
You need only look to the Eurozone to see why that will not happen in our lifetimes.
—...do you think people that sat on the side lines not involved...—
Christianity is about two things:
1. My personal relationships with other human beings.
2. My personal relationship with God.
Politics does not directly enter into that. Jesus, nor his apostles ever discussed political activism or politics in general. They did not fight against corrupt leaders. It was not even on the agenda.
In a constitutional republic that is collapsing before my very eyes, I am not focusing on and working toward political solutions. I’m focusing on the two things above. And if I am part of the phoenix that rises from the coming ashes I hope I can be positively productive.
I am not sitting on the sidelines. I’m fighting a different battle than you. I spend a LOT of time discussing religion and politics with non-believers and liberals.
I wonder sometimes if Obama is the one to be so incompetent that he sends us into the arms of “the beast”.
Stopped right there. I smell BS.
So you’re predicting the Rapture is imminent?
—So youre predicting the Rapture is imminent?—
Nope. I’m “post-trib, pre-wrath”. Used to be pre-trib though.
It’s not the “fall” which will kill America; it’s the “sudden stop” at the bottom.
To be accurate, only a portion of our society is addicted. Personally, I would not shed a tear if Welfare were eliminated. Along with the EPA, FDA, BATFE, IRS and on and on and on. There are so many programs that are useless that clearly half of the current government could be trimmed away and no one would notice. Except those who would now be forced to find REAL work and those who suck at the teat.
Then you should have been able to answer the simple questions that I asked, but you didn’t.
>> “You need only look to the Eurozone to see why that will not happen in our lifetimes.” <<
The deliberate infusion of debt is the vehicle, and it is rolling down the ever-increasing slope without brakes.
—Then you should have been able to answer the simple questions that I asked, but you didnt.—
I can answer it, but it is self evident. There was no need. There IS no need. You are not looking for information. You are testing me. That does not always justify an answer.
No Mr talk, I’ll gladly give you the information that baffles you, but I do wonder if your receptors are even enabled.
You type by the ton, and inform by the grain, but then, that’s apparently all you have.