Seeking Alpha

Wall Street's Washington worries appear to be growing. According to the 48 economists, fund...

Wall Street's Washington worries appear to be growing. According to the 48 economists, fund managers and strategists who responded to a recent CNBC survey, financial professionals rank the "fiscal cliff" as the top threat facing the U.S. economy and put the chance of recession in the next year at a 13-month high of nearly 29%. Respondents estimate going over the "cliff" will reduce growth by 1.6%, which is a large drag on an economy that's only expected to grow by just 1.92% in 2013.
Comments (8)
  • Seems strange that these supposed financial experts cannot see that the larger picture is we are in terrible financial shape and the fiscal cliff is only one speed bump. There is a lot more ahead.
    11 Dec 2012, 08:01 PM Reply Like
  • I can't wait until tomorrows CNBC with Liesman explaining away this bit of news.
    11 Dec 2012, 08:27 PM Reply Like
  • He already did today.
    11 Dec 2012, 10:33 PM Reply Like
  • Until those in Congress see the "fiscal cliff" as the top threat facing the US economy, then we have a long way to go before a deal gets done.


    What will the next fiscal crisis be once the cliff is navigated?
    11 Dec 2012, 08:45 PM Reply Like
  • Yawn.


    Life is good:


    The slow end game is starting. 85% of the population will end up tearing themselves apart all the while blaming each other.


    Poor souls.
    11 Dec 2012, 09:13 PM Reply Like
  • If arithmetic still works, as I was taught, 71% think we won't have a recession.
    11 Dec 2012, 09:26 PM Reply Like
  • Doesn't that qualify as bullish sentiment aka a contrarian indicator? Sounds like a bearish sign to me...


    I kid. If a recession is coming next year, it's not going to be the fiscal cliff that causes it. This event is the most overhyped event since Y2K.
    11 Dec 2012, 10:30 PM Reply Like
  • I don't really care what the so called "financial professionals" think about on this issue actually. My reasoning behind being outraged that there is no agreement is that THERE IS A WAR GOING ON. All this b.s. posturing is in my view PUTTING THE AMERICAN PEOPLE IN DANGER...and needless to say the troops in the field. The campaign's over Washington...IT'S TIME TO SHUT UP AND DO THE JOB YOU'VE BEEN SENT THERE TO DO.
    11 Dec 2012, 10:45 PM Reply Like
DJIA (DIA) S&P 500 (SPY)