Use access key #2 to skip to page content.

oldfashionedway (35.40)

The fiscal cliff: will Boehner & Obama choose the "Thelma & Louise" option

Recs

4

November 30, 2012 – Comments (4) | RELATED TICKERS: CL , IF , F

Instead of actually working to resolve the financial mess the government has created over the past 60 years, the leadership of both parties apparently prefers to play "chicken", trying to accomplish something by doing nothing.

Once again, the Republicans claim to be standing their ground on another "no new taxes" pledge, which almost certainly will be a pre-emptive dealbreaker for the current negotations (  by design? ).

Many Democrats would rather mortgage the wealth of future generations, than to seriously consider the possibility ( read necessity ) of cutting "entitlements" and other federal programs, for fear of ending the symbiotic relationship they have with their constituencies.

It seems any incumbent is guaranteed re-election, given the way the electorate is conditioned to react to the ever-expanding variety of "stimuli" promised almost daily in what has become a never-ending political campaign.

With so many career politicians ( read criminals ) inside the Beltway, and just as many financial geniuses ( read criminals ) on Wall Street, an individual investor is left with few choices which allow him to sleep at night.  Even Federal Reserve notes safely tucked under the mattress could leave him tossing and turning, knowing that the "monster" known as inflation may at any moment burst out of the closet.

In light of the way our public servants have behaved in recent years, the "tin foil hat" crowd is assuming the mantle of sanity and reason.  Instead of having three branches of government, we now have a three-ring circus on Capitol Hill. "God, gold and guns" may well be the few hedges left for preserving some semblence of wealth when the people who think they are in control finally have to face the unpredictable and unmanageable consequences of their own policies.   

The "fiscal cliff" may give both sides a portion of what they say they want, as well as forcing them to take some of "the medicine" they think is nauseating, yet is desperately needed.

At some point, the negotiation in Washington will continue.  However, until then, the immature choice may be the only choice left.

$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$

Speaker, "O.K. then, listen ... Let's not get caught."

President,  "What are you talking about?"

Speaker,  "Let's keep going."

President,  " What do you mean?"

Speaker,  "Go!"

President, "You sure?"

Speaker, "Yeah... Hit it..."  

http://www.youtube.com/watch?v=kRx4QzEAWQY

$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$

Who knows what's waiting once we're over the cliff.

4 Comments – Post Your Own

#1) On November 30, 2012 at 10:55 PM, awallejr (79.49) wrote:

*Scotch alert:

Well just a fyi I have been active in the gold/silver coin market on Ebay lately.  So far I have a 100% rating there ;)

With that said, personally I think the Republicans are shooting themselves in the foot.  Should they refuse to pass the pending bill to extend the the Bush tax cuts for 98% of the people, that 98% is going to be pissed.  And they will be pissed at Boehner, the tea party and that skunk Grover Norquist (boot his arrogant arse out of Washignton already. Sorry Grover but 50 years from now your name won't even be a memory).

While the Republicans may have legitimate arguments regarding a longterm resolution, using the 98% as HOSTAGE is inexcuseable.  Everytime I listen to Boehner I shake my head.  Stop with the "common ground" crap, pass the pending legislation extending the cuts to the 98% and sit down and COMPROMISE because I am telling you now the majority won't be fooled and come 2014 the Republicans can start saying goodbye to their House majority. Even white males will be pissed enough that redistricting and racism won't matter.

The Republicans so missed the demographics of this past election and they will blow it come 2014.  As an aside I do find it amusing how out of 20 chairmanship appointments the Republicans appointed 19 were white males.  Yay go "BINDERS."

It will be interesting if Pelosi can somehow engineer it where the buried bill extending the tax cuts to the 98% can be brought to the floor procedurally.  That will put pressure on the Republicans.

Report this comment
#2) On November 30, 2012 at 10:57 PM, awallejr (79.49) wrote:

P.S. I did notice your attempt with the stock symbols but TMF is getting silly about allowing any clever "spellings."  They need to re-examine their sense of humor ;p

Report this comment
#3) On December 03, 2012 at 2:18 AM, Melaschasm (57.22) wrote:

The fiscal cliff is more like a fiscal mole hill.  At most it might be a fiscal step.  Besides, everyone knows Obama will get what he wants, the only question is what he wants.

Report this comment
#4) On December 03, 2012 at 7:05 PM, awallejr (79.49) wrote:

I don't think Obama will get all that he wants nor do I think he should.  I think most Americans know some belt tightening is necessary.  The problem has always been an ideological one, namely that some thug managed to get control of Congress (Norquist) and is trying to shove his own agenda down people's throats.

I can see him there now stamping his feet holding pledge cards shouting "but you signed them!"  Any party that gives an outside lobbyist control over them is a party I will never look to again.  And I am in their "demographics."

All that needs to be done is to pass the damn bill in the House which extends the cuts for 98% of the people. But what is angering me and others is the fact that that bill IS being held hostage to try keep rich people richer.

Make no mistake Republicans, you WILL be held accountable come next election because angering off 98% of the people is not wise.

Report this comment

Featured Broker Partners


Advertisement