Marc Faber told CNBC earnings will do what nothing else has to the markets.
Others go on about the FedGov fiscal cliff. Bill at CR doesn't think so, he's sure they'll work something out rather than risk... well risk the status quo. Fidelity, (FD where I have an account) just calls for sequestration to add volatility.
Others are sure Europe will drag the US into (more?) recession. Then there's China and their necessity to transition to a consumption internal demand economy. Good luck.
Still others see Middle East tensions boiling over. Again. Sigh.
Others worry about Japan and their seemingly intractable demographics/productivity spiral.
Don't even get me started on asteroid, pole flipping, natural disaster worriers.
Anybody got a favorite?
Edit: Cleaned up ugly links.
8 comments:
A favorite?
The following video sums it up for me, lol. Sigh.
My favorite cliff has to be the one when the liberals run out of other people's money...
http://www.businessinsider.com/singer-argentina-feud-hurts-bond-yields-2012-11
Here's one you didn't mention...BTW, is there a way to embed links?
If we worry about Argentina then we should panic about Mexico.
Yeah, I'm trying to work on embedding codes. I'm not sure what's going wrong.
I would dearly hope that a deal would be made to avoid the Fed fiscal cliff, but... I also thought there was no way they'd play chicken with the debt ceiling to the point of damaging the credit rating.
Lame ducks quack strangely. I wouldn't put any act of insanity past them. The fiscal cliff wouldn't be bad except for the front loaded sequestration. That was stupid. Time to also get honest about "off budget." Stupid stuff like borrowing from trust funds to reduce the deficit has to stop. Most transparent administration ever and all that.
The numbers really aren't that bad, but the economy is, so the effect of any measure of "fiscal discipline" will hurt. The longer they keep treating the symptoms the worse the underlying condition gets.
The Fed's TAG program ends Dec 31st and that puts 1.6 trillion in govt backed deposits onto the banks liability side. That's a far bigger number than the first year impact of the fiscal cliff.
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