The United States seems to find itself in a continued fiscal mess and now is not the time to play politics. The ceiling, the cliff and a possible downgrade to their credit rating have investors selling and holding cash. Companies, hereto, are sitting on a lot of cash, and rightly so. I am watching the 200 day moving average and hoping that the volatility index stabilizes or further selling is likely to continue into January 2013. Some investors are heading to gold stocks.... I am not. Some are actually buying Research in Motion stock... I am not.
"Thelma and Louise" comes to mind as the cliff deadline approaches...... The unanswered question is: "Is the cliff the Grand Canyon?" I don't believe so..... January will see Bush tax cuts go and a new policy begin; it is the uncertainty that is killing everyone!
Looking at the various polls, more than 54% of US residents agree to increase taxes, cut spending and pay down the debt - so if the majority can agree why can't the political leaders get this done?
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