Fiscal-cliff. Did you hear about the fiscal-cliff? It’s all FISCAL-CLIFF HYSTERIA, all the time, on all the mainstream media.
The question about the fiscal-cliff and its impact on the markets for traders is whether or not the market has already seen past the fiscal-cliff hype and has already priced in a fait accompli resolution to the whole thing or whether, as I’m thinking, that the hype has probably kept a lid on the market and most of our best long stocks this time.
The question about the fiscal-cliff and its impact on the markets for investors is…well, nothing. It’s a moot point. The Federal Government is pretending to care about the Federal Budget in 2033 while it’s still lending to banks at 0% interest and borrowing that money back from the same banks at 2% interest and buying their worthless assets for anything they say they are worth with taxpayer money at the Fed for trillions of dollars every year and are giving trillions of dollars of tax credits, tax breaks, and other welfare to GE, Apple, Microsoft, Smith & Wesson, Boeing, Haliburton, Exxon, and every other major corporation in the world.
The fiscal-cliff is meaningless in that context.
No changes, no trades for me today. Steady as she goes.
Oh, wait, did you hear about the fiscal-cliff? The Republicans and Democrats are WORKING VERY HARD to SAVE YOU, don’t you know?
Sigh.
Now for something much more real to think about as you kick off the arbitrary marking of a new year tonight.
Landfill harmonic (la orquesta reciclada)
I’d like to figure out how to buy and/or distribute those beautiful trash instruments they are making. There’s no limit to human ingenuity in the real world. Fiscal-cliff sure matters, huh?
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