Fiscal Cliff..

[Oberon]

http://www.bbc.co.uk/news/world-us-canada-20853624

[Jimbuna]

Was watching that film very recently

This could well be the year where they do go over the cliff edge and plunge the US into an inevitable recession

[Oberon]

Much to my shame I do not have that on DVD yet, I will have to change that in the New Year post haste.

I, personally, don't think that they'd be reckless enough to go off the 'cliff' but each time they push it a little closer before striking a deal. This sort of brinkmanship is not going to make the markets particularly confident and may do more harm than good in the long run...but c'est la Washington.

[Jimbuna]

Have you seen the film yet?

[Skybird]

Originally Posted by Jimbuna

This could well be the year where they do go over the cliff edge and plunge the US into an inevitable recession

Just the US...?

The US party trench warfare ruins much more than just the US. It ruins European and Asian markets as well.

On the other hand, there is no solution anyway. If your existential crisis is coming from debts, debts and more debts, than making even more debts and printing money like crazy solves nothing. Just delays the collapse of the card-house until one is hopefully out of office and cannot be sued or held responsible anymore.

Snowball systems maybe should be accepted for Olympic competition. It seems everybody is preaching them these days.

[geetrue]

Nothing happening today with only four days to go. The major players aren't even all in place yet.

Could it be that the rich people that support our countries law makers don't want to be the only people that have their taxes increased?

The republicans already have a bill in the senate that the senate won't pass and the democrat senators have a bill in the house that the house won't pass.

One of these two bills could be passed imediately and the bill on the presidents desk by monday.

Something bigger is loaming that doesn't meet the eyes of the poor people, remember us the 47% that don't pay taxes lol

The House has acted on two bills which collectively would avert the entire fiscal cliff if enacted. Those bills await action by the Senate," he and other Republican leaders said in a statement. "If the Senate will not approve and send them to the president to be signed into law in their current form, they must be amended and returned to the House."
They said the House would either accept those bills or continue to amend them, adding: "The House will take this action on whatever the Senate can pass, but the Senate first must act."
With each side refusing to make the first move, it may be incumbent upon Obama to give a negotiated bill one last try, presuming he can get all the stakeholders in the same room. Also unclear is what role Senate Republican Leader Mitch McConnell, who has stayed largely quiet throughout this debate, may play in pushing for an 11th-hour deal.

Read more: http://www.foxnews.com/politics/2012...#ixzz2GHAWgrQe

[AVGWarhawk]

We will go over the cliff. Enjoy your tax increase. It will only hurt a little bit. Watch your 401K become a juicy target for increased taxes when used in retirement and for those still saving...a little less tax free to you that can be put away. Let's not forget the kicker of paying for healthcare that will come out of your check as well. Tossing the ever raising taxes on food and gas for good measure. Time to rethink that household budget because the blow hards in DC care very little for what taxes they themselves pay. After all, it is the tax payers money they are salaried from. Nice little set up I'd say. Ain't life grand!

Edit: I forgot to add that the entire ordeal will be blamed on Bush from both sides of the isle.

[Oberon]

Originally Posted by Jimbuna

Have you seen the film yet?

Oh yes, saw it at the cinema when it first came out, both me and the wife are big fans and Nagy took us to see both it and the first one when that came out. We just haven't got around to getting it on DVD which is a bit daft of us and will have to be rectified.

[Armistead]

It's all a blame game, hurt the American people and watch both parties blame each other. The fact is they could do some things, but they would rather stick to hard lines. In fact, I think both sides want to go over the cliff, it may be the best solution since spending isn't being cut.

[AVGWarhawk]

Originally Posted by Armistead

since spending isn't being cut.

And you sir have nailed the smoke and mirrors on the head. Much of anything done in DC is smoke and mirrors, a promise not to come to light and getting to it sooner or later. Sadly, we have come to the end of the road of the euphoria of stability generated by our leaders over the decades. We have hit the "later." Retirement plans, homes and now income will be on huge automated teller machine for the government. And for what??

Edit: I was wondering what will happen when the inevitable additional tax hikes will come in a year. I think the villagers will not swallow that pill.

[Jimbuna]

Originally Posted by AVGWarhawk

Edit: I was wondering what will happen when the inevitable additional tax hikes will come in a year. I think the villagers will not swallow that pill.

Can I have your tax rebate Chris?

[AVGWarhawk]

Originally Posted by Jimbuna

Can I have your tax rebate Chris?

Yes, but the wife, kids and mortgage come with it. Package deal!

[Jimbuna]

Originally Posted by AVGWarhawk

Yes, but the wife, kids and mortgage come with it. Package deal!

Bugga!.....forget it

[Schroeder]

Originally Posted by AVGWarhawk

We will go over the cliff. Enjoy your tax increase. It will only hurt a little bit. Watch your 401K become a juicy target for increased taxes when used in retirement and for those still saving...a little less tax free to you that can be put away. Let's not forget the kicker of paying for healthcare that will come out of your check as well. Tossing the ever raising taxes on food and gas for good measure.

The big question is what the alternative would be? More debts? That game went on for way to long (not just in the US but pretty much everywhere in the world).

[Armistead]

Originally Posted by AVGWarhawk

And you sir have nailed the smoke and mirrors on the head. Much of anything done in DC is smoke and mirrors, a promise not to come to light and getting to it sooner or later. Sadly, we have come to the end of the road of the euphoria of stability generated by our leaders over the decades. We have hit the "later." Retirement plans, homes and now income will be on huge automated teller machine for the government. And for what??

Edit: I was wondering what will happen when the inevitable additional tax hikes will come in a year. I think the villagers will not swallow that pill.

and for what you ask, well, you know of course,...entitled voters, but can you really blame them?

Americans cannot compete for jobs in the world and keep any real quality of life. The global economy will take America back 100 years as other nations go through what we did, cheap labor, no benefits or regulation. China, India, etc...are having there own industrial revolution and we're paying for it. It's creating a rich and a poor class, a very large poor class.
Sure, many are doing OK, but millions each year are losing wages, benefits, jobs....

I had a friend that had a nice corporate job, he hated all the liberal entitled voters. His job was cut....in a year he couldn't find anything close to salary and benefits. He finally sold his big home just so he could afford insurance for his sick wife. Now he can't afford that with his 30K income.

Yea, we had a great fake economy for a few decades, but now the chickens have come to roost.