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Fiscal cliff? Do you think that either of these dolts realizes that they and their predecessors have already created a $16,000,000,000,000 pile of IOUs, with untold trillions more in obligations that they have no chance of being able to pay? If there is such a thing as a fiscal cliff, our government went over it years ago. This is nothing but partisan grandstanding so they can keep the duped supporters of both parties yelling at each other. Unless they actually believe that the projected tax increases, which will fund about a week of federal spending, is a solution. In that case,well, it is no wonder that our economy and currency are being destroyed.
mudcatgrant: "it is no wonder that our economy and currency are being destroyed." Funny that professional investors and money managers don't share your doom-and-gloom. The market is doing fine, unemployment is dropping and consumer confidence is at a five-year high. Stop being such a sad sack.
Not a sad sack. A realist. The market is not the economy. The market was at all time highs in late 2007 just prior to the financial meltdown. Unemployment will continue to drop as long those doing the calculating keep changing the rules on who is considered unemployed. Why would many of these money managers be worried. They keep getting newly created cash handed to them and pumped into the stock market, letting them make short term profits at the expense of long term dollar devaluation. Keep believing the reports being created by government bureaucrats that are being used to cover up the fiscal mismanagement, financial scams, and economic meddling of other government bureaucrats. The politicians need followers to walk in lock step so you keep electing them and they can keep cashing in.
ontherecord, instead of repeating the "not to worry" tape loop being spewed out of DC,why not take some time to explain just how an federal debt load that is admittedly $16 trillion but unadmittedly trillions more can be good for any economy. There is absolutely no chance that this debt can legitimately be repaid, leaving us with the option of massive inflation or straight default. Please let me know how this is good news. Thanks.
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