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Wall Street Tense After
´Fiscal Cliff´ Setback

CNBC, by Patti Domm

Original Article

Posted By:horacer, 12/21/2012 1:04:12 AM

Friday could be a tense day for markets, as a resolution to the "fiscal cliff" appears less likely in the final trading days of the year. Stock futures fell sharply Thursday evening after House Speaker John Boehner said he failed to mount support for his "Plan B" version of a bill that would raise taxes only on families earning more than $1 million, a plan already opposed by the White House. GOP leaders said the House would not take up any other votes until after Christmas,

Comments:
Mayans taking big losses on shorting the apocalypse. Could be an ugly day tomorrow.

      


Post Reply  

Reply 1 - Posted by: Spidey, 12/21/2012 1:20:27 AM     (No. 9077060)

The stock market is worth watching because they´re getting insider reports on what´s eventually going to happen.You know investment advisers are being sued now if they give bad advice and somebody loses money.I can imagine lawsuits fling if there´s a crash simply because Obama´s stuck on stupid with his demand for the 3% on suckers making $200,000.

If there is a crash,I hope it´s Obama´s supporters and donors who take the haircut.

This is a great time to be poor so you don´t have to worry about this stuff. There´s no such thing as falling out of a basement window.

Somehow this will be another case of not letting a crisis go to waste and Obama and his heathens will exploit it for all it´s worth.

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Reply 2 - Posted by: woofwoofwoof, 12/21/2012 1:33:39 AM     (No. 9077066)

Don´t be tense, lie back and enjoy it.

Never a chance we´re not going over the cliff.

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R-G1
  
R-VAR_AD


 
Reply 3 - Posted by: Safari Man, 12/21/2012 1:57:08 AM     (No. 9077071)

I monitor the Dow futures every night like a hawk. THe changes are usually +/- 40 points or so. Earlier this evening we were down -300 points. If that scales up accordingly, we could easily see 400-500 point drop tomorrow. I don´t think that will be the end, either. Tell me why it should be going up -- there´s only one reason for positive movement these days, and that is the massive money printing going on at the Fed for the clear (but hidden) purpose of propping up the stock market for the benefit of Obama´s negotiating strength. If the market finally realizes the sham that is being perpetrated, we could see many 500 point losses in a row.


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Reply 4 - Posted by: King of all trolls, 12/21/2012 2:01:38 AM     (No. 9077074)

This whole fecal cliff Mumbo Jumbo is a stupid media creation. If the Bush tax cuts expire as Dear Leader and the virginal "conservatives" so desire, Barry will just scold the evil GOP for not playing ball and then pass a "massive" tax break. Historians will refer to it as the "Dear Leader tax cuts"...but at least the spitwad boys will have their revenge against John Boehner. How dare he remove anyone from committee chair without Mark Levin´s approval?

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Reply 5 - Posted by: steveW, 12/21/2012 3:00:35 AM     (No. 9077098)

Wall Street seems to invest quite a lot of faith in the intentions of Barack Obama. If so, it is pure madness, making into a joke any so-called knowledge they may have about economics and markets. True economics is the diametric opposite of political correctness - if Wall Street doesn´t know that, it knows nothing.

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Reply 6 - Posted by: Country Boy, 12/21/2012 3:40:05 AM     (No. 9077109)

OK Alex, I´ll take "Recession in 2013 for a thousand".

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Reply 7 - Posted by: Alex, 12/21/2012 4:03:01 AM     (No. 9077117)

When “Plan B” failed why didn’t Boehner bring up a simple bill to extend the Bush tax cuts for everyone for another 2 years, lower the corporate tax rate, abolish the AMT and for good measure, even tho not many of us would have liked it, extended unemployment for another year? The Republicans could have made the democrats own this thing, but they didn’t even try.


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Reply 8 - Posted by: pineledger, 12/21/2012 5:29:39 AM     (No. 9077140)

The Dow was jittery yesterday early on but then closed up.

If we go "over the cliff" and go back to Clinton era taxes, the Dims will be the first to deny that this is a tax increase, though that is exactly what it will be. And they will on the other hand blame the Pubs that everyone will be paying more taxes. We will all be paying more taxes, no matter who we are.

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Reply 9 - Posted by: steveracer, 12/21/2012 6:31:13 AM     (No. 9077178)

If government spending isn´t cut than this fiscal cliff stuff is bunk. The trees in my yard and maybe in your yard do not grow money. Stop expanding government.

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Reply 10 - Posted by: Judith, 12/21/2012 6:42:50 AM     (No. 9077187)

If low-information voters got us this joker in the whitehouse, who do you think these same voters (with assistance from the media)will hold responsible for recession?

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Reply 11 - Posted by: reilly, 12/21/2012 8:14:36 AM     (No. 9077338)


The electorate voted to get it and they´re going to get it good and hard.


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Reply 12 - Posted by: novakid, 12/21/2012 8:41:36 AM     (No. 9077382)

But most of the Democratic portion of the electorate pay no income taxes anyway. Why should they worry about the stinkin´ tax rate?

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Reply 13 - Posted by: OhMy, 12/21/2012 9:08:10 AM     (No. 9077434)

The Wall St Journal gave a clue recently that they were hoping for a corporate rate cut if they went along with some personal rate increases. This is the real disunity on the right which is playing into the Obama agenda. You throw scraps to the monster hoping he will be satisfied and not eat you. It doesn´t work and it makes little difference in the end because it is still money taken from the private sector to be wasted in the bloated public sector. If we want to unite the right it is here that we should do it not to save the cry baby speaker.

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Reply 14 - Posted by: oh-heck, 12/21/2012 9:34:55 AM     (No. 9077486)

After Jan, being poor will be less attractive. In order to keep the Bush rates in effect, the GOP allowed Obama to put refundable credits in the tax code such that people working at pay levels below targets actually received a government check each month. That will end and increase revenue 27 billion in 2013. The Middle Class tax hikes will bring in 179 billion. The other expiring non-rich cuts will bring in 84 billion. Finally, the increase on the rich will bring in only 42 billion. The Dems have spun the Bush tax cuts as only affecting the rich. Their supporters are going to find out just how wrong this is in mid-January.

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Reply 15 - Posted by: bogeegolf, 12/21/2012 9:43:07 AM     (No. 9077504)

Anything short of real spending cuts now is just another volley of "kick the can down the road" , the pols favorite game. I never expected otherwise.

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Reply 16 - Posted by: OdinsAcolyte, 12/21/2012 12:17:21 PM     (No. 9077944)

Central Standard Time is what counts and the 23rd could be the day. Of course it has naught to do with the End of the World. Sheesh. We have 5 dead days for calendar adjustment every 50 years. Party like a MAYA! At the end of those 5 days we need a beautiful and noble woman to be stripped, humiliated, flayed and devoured. The priests shall tap passers-by with her shin bones for luck while wearing her skin. Sound like a fun party? Modern man is weak.

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Reply 17 - Posted by: OdinsAcolyte, 12/21/2012 12:18:49 PM     (No. 9077946)

My computer is crazy and pulled up the wrong topic. Sorry. Fiscal Cliff? Party like a MAYA! etc etc

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R_DBL_B
  


 
Reply 18 - Posted by: pineledger, 12/21/2012 2:23:42 PM     (No. 9078168)

15, you´re absolutely right. There was a reason all this stuff was timed to take effect in 2013. Wait till the 98% get their 2013 tax bills.

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