Markets have rallied back into the green!
The Dow was down 100 in early going futures. Now it's up 12!
What's going on?
Two things: There was a good consumer confidence number.
And The Washington Post is reporting that Obama will propose a middle class tax freeze (which is a predictable opening move in this fiscal cliff fight).
Both Boehner (at 11:05 AM) and Obama (at 1 PM) have public announcements/statements on the deficit and fiscal cliff coming up.
Source
Down 100......Now up 12. Wow. This could also be a trick by the market to sucker in those wanting to profit on futher increase.
ReplyDeleteMiddle class tax cuts cost 2.7T over a decade. "Rich" tax cuts cost 0.678T over a decade.
ReplyDeleteEinsteins definition of insanity.
More "tricks". Don't have enough money in the checking account? No problem. PRETEND that you do. Increase the spending limit and SHAZAAM!! we're back in the black! It's party time! A CPA would go to prison for managing someone's money like THAT. But Congress, who has legalized it's own thievery, plays with our money like it's Monopoly and of course, they all get rich in the process. That' all thats getting done, my friends. Thats all.
ReplyDelete