Fiscal Cliff

[bumper]

Hmmm1111 That job water runs uphill. no thanks.

[bumper]

Maybe just maybe

http://www.bloomberg.com/news/2013-10-1 ... short.html

[bumper]

Still no deal. When you look at the issues that are stopping the deal. They are things that should have been a work in progress for over a year now, not crisis decisions. Fitch is has placed the states on a negative watch now. It doesn't take a rocket scientist to realize , this will only put the U.S. further in debt.

The debt ceiling was whacked on pretty good with the Sequester already. The answer lies in two areas, cut spending, don't hack to death taper it just a the FED plans to do, Get people back to work an increase the cash inflow.

Obama Care is law, the answer if the Republicans don't like it get control of both houses an make a new law. But don't fight it like this. I would imagine after all this that will be very difficult for them now This is harmful to every Nation in the world. U.S. goes down it will have a lot of company.

Helping other Countries I see the need for it. My approach just like I do I take care of my family first, then if I can I help others. Mind you if I don't do that I can be no help to anyone, because I would gave destroyed myself

You know these are some very basic things, not a finish point. But, a place to start.

Makes one wonder what the hell they have been doing since the Sequester. Sure doesn't look like they were working on a budget

If they want to bankrupt the Country they should have done it in 2008, not now as we digging slowly out of that mess.

Yes there would have been a depression. I wonder what they think will happen from this.

I hope President Obama does have another avenue, as it appears that even within the parties themselves can't work to together.

I will have a sigh of relief if we get through this. But, I also know we will be right back here in Jan. I will not forget this come election time and the President is not the only one I will be looking at.

Rant over

[KHONDAHM]

@Parrot - Yeah, that surplus under Clinton sure was a bad thing, right? Or if it was a good thing, Republicans revise history and edit out the parts where they fought Clinton tooth and nail. Ha! I do lay a good chunk of the 2008 crisis at Clinton's feet because he signed the Republican sponsored repeal of Glass-Stegall in exchange for relief in the Republican-controlled Senate from his impeachment in the House. An arm-twister deal to be sure, but the repeal of Glass-Stegall is what got the party restarted despite the S&L crisis in the 1980's (hello, Ronald Reagan!) where we found out just how important it was to have in place.

[KHONDAHM]

One day to financial Armageddon! Party over here! Party over there! Wooooot! Wooooot!

*sigh*

[bumper]

Well President Obama is right about one thing Americans are fed up with this stuff. Mr. Cruz should be renamed to Mr. no.
There is no doubt that America either needs to slow spending as it did ( Sequester), or increase revenue. Without borrowing. You know mist of the people I know have been through this at one time or another in their lives. They worked over time a much as they could get and took on part time jobs. Learned to avoid credit cards. In other words they found a better way.

The way to increase revenue (taxes) is get people back to work. None of what we just went through and will go through again shortly helps that.

http://news.yahoo.com/government-open-a ... nance.html

[parrot]

I understand that Paul Krugman may not be everyone's cup-of-tea economist (despite being a Nobel Peace prize winner).......but over the years, he seems to be on target more than any other economist.
Today's piece at
http://www.nytimes.com/2013/10/25/opini ... se.html?hp

I think it's also worth noting that the US stock market is up 100+% since Feb 2009. Not a bad ride for those who fastened their seat belts when the going got rough.

[bumper]

There were great buy in during hat time frame around the world. Much the benefit of QE. sadly corporations sit on the cash for the most part. So sill a high unemployment rate. I guess it's Reagan's trickle down economy

[bumper]

Ex FED Official apologizes for Q.E. admits it was a back door to the stock market funding. Never really hit the main street as was the intention. So far the ones that got rewards was the guys who caused this mess in the first place. Might gave been a time when it was needed, now it's just a crutch. Doesn't look like we a any closer to budget then when they did the shut down.

http://www.cnbc.com/id/101192690

[akwoodworker]

Don't worry a crash is coming, I have a year and a half til social security but doubt it will be there. My guess is not that the public has perceived confidence it will probably happen in 2014

[parrot]

The fiscal cliff, of one sort or another, has been coming since the stock market dropped to the 6000's back in 2008. Sooner or later the soothsayers will be right. Meanwhile, the stock market is on the verge of breaking 16,000.

[bumper]

I have no doubt that this was needed. But, the thought was that it would trickle down to main street. So far there is little indication that it has went that way. Yes the markets including the Thai Set have benefited. Yellin in her testimony yesterday indicated that she saw no indication of a bubble forming.

But, where are the jobs?

Government wants to spend more money, the answer lies in more people working and paying taxes. Banks setting on huge amounts of money and no lending, that really helps recovery. Cheap money given to the market, to be invested all over the world. Didn't provides jobs in real numbers to make a dent in the unemployment rates, little gains. But, nothing worth talking about. Many people who actually want to work have to depend on an extension of unemployment benefits.

So here we are what five years of Q.E. in one form or another. Who has really benefited, the entities that created the mess in the first place. Yes stocks are doing fine. But in the end does that provide jobs for working class people,. What product do the markets create, money.

That would mean something in the recovery if that money hired the guy who made widgets, it doesn't seem to be going that way.

Why are foreign markets so worried about a taper?

This was meant to strengthen the economy in America. But, that money has went into foreign markets and they will have problems when the hot money stops flowing. Yellin is not worried about a bubble. But, watch what happens if the taper takes effect.

There will be a huge correction. I sit here waiting patiently, to invest when that happens. I know very little about U.S. stocks. But, I do know the SET, it has been driven to these highs by foreign money. The mere thought a few months back took the the SET form its path to a predicted 1500 down to 1200. Stocks are overpriced here and have been so for sometime now.

Parrot I know you are familiar with the U.S. market are stocks overpriced there now, compared to their real value?

When this all started I did research on recessions about ten years out from the the signs of recovery, History showed that in ten years there would be another. One recession lasted over a 100 years that amazed me.

Yes some are becoming very wealthy with the current times. But if we don't have widget workers with jobs when the well runs dry, things are going to be worse not better. That will slow markets as well.

The way it's shaping up we will see it in Thailand before the U.S.

We have a Government that can't function together. From what I can see we no closer to a budget then when they shut the Government down. So will we see another shut down, certainly seems a possibility.

[parrot]

Somewhat related to the supposed 'fiscal cliff':
I can't help but think the US government would be (at least) $13 billion poorer today if a Republican had been voted into office last Nov. The deal between the government and JP Morgan may be just the beginning in dealing with questionable practices by the banks.


http://dealbook.nytimes.com/2013/11/19/ ... ounced/?hp

[bumper]

You know for the life of me, I do not understand why the FED isn't pumping money into infrastructure repairs and creating jobs. On the surface it looks like they are rewarding the the very entities that created that mess in the first place.

So they go after a few banks, they have given them plenty to pay any fines.

I read an article the other day where they think Wall Street is inflated 75%, is that is the case that is one hell of a bubble.

I have no doubt that the Thai SET is overvalued.

[parrot]

"I read an article the other day where they think Wall Street is inflated 75%, is that is the case that is one hell of a bubble."

Any chance you have the link?

[bumper]

Two year budget deal maybe:

http://thehill.com/blogs/on-the-money/b ... udget-deal

[parrot]

Seems like the tea party influences waning. Good news for everyone else!

[bumper]

I really hope this goes through as they said not perfect. Sadly there is no perfect world or system. Give and take makes world around. If we actually get an agreement on a budget, Fed tapers might just help our paychecks. ( dollar ones anyway)

Sound like your right on the Tea Party Parrot.

http://gma.yahoo.com/john-boehner-fed-3 ... 16296.html

[parrot]

Always lots of naysayers on the US and the economy....but with Janet Yellen confirmed as head of the Fed and with news like that in the link below, I'll continue to invest in the US stock market.
http://www.economist.com/news/united-st ... d-spenders

[parrot]

My family, being of Polish heritage, was well aware of the hazards of getting a chunk of kielbasa stuck in one's windpipe......or worse yet, in older age, stuck in one's arteries.

It's nice to see that John Boehner has apparently cleared his windpipes of the piece of tea party kielbasa that was stuck in his windpipes the past few years.
http://www.nytimes.com/2014/02/12/us/po ... ml?hp&_r=0
And with Janet Yellen having made her first pitch as head of the fed, maybe it's time to retire the word nomenclature 'fiscal cliff' for a few years.