Post Election Blues: Dow -176pts, Nasdaq -39, S&P500 -21

[Aecetia]

The Titanic seems to be headed for another iceberg. Any bets on how that reaching across the aisle thing is going to work?

“NEW YORK (CNNMoney) — American households face an average tax increase of $3,500 if Congress doesn’t act to avert the fiscal cliff, according to a new analysis from the Tax Policy Center. Overall, 88% of households would end up with higher taxes.”

http://money.cnn.com/2012/10/01/pf/taxes/fiscal-cliff-tax/index.html?iid=EL

[no_such_reality]

Make that -302.66

On the plus side, the democrats may get super majority status in California.

I hope so. Then the beast will be unleashed.

[an]

My $700 GOOG put looks better and better by the minute. Thank you Obama.

[Coronita]

Wow… That didn’t take long to go below 13,000…

Told ya!…

Patience grasshoppers. It’s gonna get a lot worse….Patience…..

I feel like eating Greek food today to honor the predicament we’ll be in soon.

Now where did I put my maxxed out credit card….

[Coronita]

-337 and falling……

Lol…..

[Aecetia]

“Bottom line, the US government is legally bound to spend more money on mandatory entitlements and interest than it can raise in tax revenue. It won’t make a difference how high they raise taxes, or even if they cut everything else that remains in government as we know it.”

“This is not a political problem, it’s a mathematical one. Facts are facts, no matter how uncomfortable they may be. Today’s election is merely a choice of who is going to captain the sinking Titanic.”

http://www.zerohedge.com/news/2012-11-06/it-doesnt-matter

[Coronita]

make that -359 and falling.

.. Holy crap… Didn’t think it would happen that bad today…..

I guess wall street still has a pretty big influence on main street.

[spdrun]

make that -359 and falling.

The lemmings are panicking! OMG! OMG! The sky is falling. My vulture sense smells some buyer opportunities in the future. Panic away, kids!

[an]

[quote=spdrun]

make that -359 and falling.

The lemmings are panicking! OMG! OMG! The sky is falling. My vulture sense smells some buyer opportunities in the future. Panic away, kids![/quote]
Please buy spdrun. The more the better. Might want to buy on margin too.

[Coronita]

[quote=Veritas][quote=flu][quote=spdrun]My stocks are actually fairly steady today. Love renewables!!![/quote]

Yes, but several people’s retirements aren’t self-directed.. Furthermore, several people aren’t proactive in their management and believe in just the hold and wait strategy….

It will definitely be interesting…

XLP is not a bad holding for me for the past years as a crisis economy holding…[/quote]

Interesting as in have a long and interesting life…
Now maybe we will get real unemployment stats. What will be interesting is to watch Iran and Israel as well as Putin. That is even more interesting than watching stocks and bonds.

It is almost time to make predictions, such as when will the Euro unravel and each nation returns to its own monetary system. My prediction, this is the 1930’s all over again with IT. As Europe returns to its pre-Euro economy, nationalism will be on the rise.

One bright spot for the U.S., is this:

“Companies also say one of the biggest obstacles to hiring is the “Code du Travail,” a 3,200-page labor rulebook that decrees everything from job classifications to leave for training to the ability to fire. Michelin has decided to build a plant in the U.S. for the first time in 35 years even though labor costs there are higher because of the business “environment and climate,” Senard said, complaining about the long-drawn process in France to lay off workers or modify contracts.”

http://www.businessweek.com/news/2012-08-30/hollande-s-business-policies-slammed-by-french-corporate-leaders%5B/quote%5D

My neighbor that runs a dental practice has some interesting thing. He was trying to hire a office helper, and the office helper basically declined the job. According to him, she stated she wanted to finish her extended unemployment benefits before starting a new job…. Yup…….definitely going greek in this country….I asked him given this, are you gonna still hire this year… His response: I need to talk to my accountant… I don’t know.

[Coronita]

[quote=AN][quote=spdrun]

make that -359 and falling.

The lemmings are panicking! OMG! OMG! The sky is falling. My vulture sense smells some buyer opportunities in the future. Panic away, kids![/quote]
Please buy spdrun. The more the better. Might want to buy on margin too.[/quote]

Come on.. He’s not markmax… I still think Zygna is a great buy…. What are we at? Centennial downing?

[an]

[quote=flu]My neighbor that runs a dental practice has some interesting thing. He was trying to hire a office helper, and the office helper basically declined the job. According to him, she stated she wanted to finish her extended unemployment benefits before starting a new job…. Yup…….definitely going greek in this country….[/quote]
What do people think would happen? Why work when you’re getting paid to not work. Especially when working doesn’t get you much more. Most people will find ways to work the least for the amount of money they need.

[an]

[quote=flu][quote=AN][quote=spdrun]

make that -359 and falling.

The lemmings are panicking! OMG! OMG! The sky is falling. My vulture sense smells some buyer opportunities in the future. Panic away, kids![/quote]
Please buy spdrun. The more the better. Might want to buy on margin too.[/quote]

Come on.. He’s not markmax… I still think Zygna is a great buy…. What are we at? Centennial downing?[/quote]
I can only hope

[Aecetia]

Exactly right AN, why work? Let other people work and you can live off their earning…[img_assist|nid=16835|title=Future Debt|desc=|link=node|align=left|width=100|height=72]

http://www.zerohedge.com/news/2012-11-06/next-steps-fiscal-cliff

[spdrun]

Oh please. Have you actually seen how the average family on welfare lives?

Really the only thing that’s changing is that the playing field for health insurance is being leveled between the self-employed, small businesses, and large conglomerates. This is a good thing for capitalism and free-enterprise, since people will be more free to walk off and start their own businesses – immobility of labor due to insurance or other considerations is a bad thing.

[Author]

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