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Investors who fled in fear over potential tax increases from the fiscal cliff have barely broken...
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Saturday, February 16, 8:25 AM ETInvestors who fled in fear over potential tax increases from the fiscal cliff have barely broken a sweat over spending cuts only two weeks away, as no one wants to sell again on an armageddon story only to watch stocks climb to new highs. But investors expecting a deal may underestimate the potential impact; with some seeking an excuse to sell after the run-up, failure to reach a deal is "by a long stretch" the top candidate to prompt a real pullback.
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This news story has 27 comments:
Just as I said many times in SA, it is all 'Government-Controlled'!
BTW, it would be naive for anyone to think otherwise, wouldn't it?
There will be a slip up by the end of the month. Those longs that are on the fence are have the doubts sewn into their minds that this so called recovery is really a recession. Once these neutral longs start selling, and bears start short-selling in earnest, and bullish longs capitulate as each dip bought is breached, a crash in equity prices will unfold quickly.
Aren't the cuts tied to passing a budget which is tied to whether or not Congresspersons will receive their salaries?
That's how I seem to recall it's set up, and I don't think our honorable members of Congress have any intent of finding themselves in a situation where they won't get their pay...
Is he occupying an incumbent permanent 4-year position or a 30-day renewable temporary position? Reid unveiled a bill for more taxes on the 'rich' to bring in more revenues offsetting the cuts.
Revenues! Sounds like it is a bottomless well!
As in: a pant-load of new obamaCare taxes/fees/penalties AKA revenue enhancements and of course Solindra-like investments.
Just look at the stock market! Go-Go-Go.
Go all in now; DO NOT DELAY and DO NOT BE LEFT BEHIND!
You heard the female Obama sing at the Inagural and at the Super Bowl. The Time is now. It is like the Hadrian Walls, the Hadran Villa, and the Hadrian Reflecting Pond. It is the Obama Era coming on Strong.
Remember, Obama always wins!
For many, the congressional salaries of senators/congressmen are but a small piece of their potential compensation. See the wealth Harry Reid built by "investing well".
Increasingly I feel as if I am Alice in Wonderland and have serious concerns about the fifth estate. One has to be a Sherlock Homes to get to the bottom of the sequester story, so little wonder that the wool is being pulled over the eyes of the American people. Thus the online public comments in these news stories don't even seem to even understand the numbers or math being proposed. I am posting this so that others can cross-check how the sequester counterplan from the Senate Democrats is being falsely reported.
I read through about ten news reports on this Senate Democrat counter-proposal in an attempt to get to the bottom of it. In almost all cases this counter-proposal is being portrayed as an "$110 billion cut" with no reference point such as annual. This conveys the impression that it is a legitimate substitute for the $120 billion annual cuts called for in the sequestration. Buried in a few stories was this account suggesting that the defense cuts would be a total of $27.5 billion over ten years (not annually) and mostly at the back end,
"Senate Appropriations Committee Chairwoman Barbara Mikulski (D-Md.) said the defense cuts don't kick in until 2015, after the Afghanistan war ends and they are phased in slowly until 2021. The plan would make defense cuts of about $3 billion in fiscal years 2015 and 2016 and slowly rise to $5 billion in 2021."
This is a press release sent to Huffington Post from "the Senate Democrat aid". This time the language is clear enough that this is nothing more than a proposal to delay the sequester until January 2, 2014 and to start the discussion (at this late day) an offer of $110 billion in revenue adds and spending cuts over 10 years, not on an annual basis.
http://huff.to/XQqOC1
That 22% is just the federal take... Anything I buy in this great state of Tennessee also incurs a 9.25% sales tax... How much of the money that I pay for gas is a government "revenue add"?
I guess what I really want to know is how much of MY money that I work HARD to make is enough for the government?
When these poor souls are released from the Voluntary Adult Detention Centers (VADC) and the Voluntary Adult Detention Facilities (VADF), where would they go? It is not like the Soviets in the Stalin Days where they set up those Gulags to house them, you know.
Besides, there would be less spectacle of civil servants and their entourage contractors/rackets to pushing wrongly-procured equipments over cliffs in the countryside at midnights.
Let them continue to contribute to the parasitic end of the economy by nursing kids into so-called Magnet Schools only to be recycled into the government. You should come down here to see their private pre-school Taj Mahal style. Obviously they don't need the Obama pre-school.
BTW, as far as my memory gets me, when I was in Ottawa with that civil service of the Great White North, legends had it that cleaning ladies routinely discovered dead bodies in their cubicles, presumably due to lack of work and ensuing boredom.
Cheers. I bet 10-0 - - -> No cuts. It's another hoax!
P.S. Al Gore in his National Review did cut a couple of term-job typists though.
All of it!