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The Grinch That Stole The Rally

December 28, 2012 – 6:19 pm

S&P 500The Christmas rally has turned into the Christmas dud thanks to our wonderful Washington politicians. They cannot seem to get a grip on settling the issue of automatic tax increases and spending cuts we all know and love as the Fiscal Cliff.

One of the problems is that both sides don’t see enough downside for their dithering. President Obama gets tax increases on the rich though he does not necessary want them across the board for everyone and the Republicans get spending cuts thought they don’t want to see it on military spending.

The truth is we need a resolution and for that to happen there needs to be compromise. The ones who are going to truly suffer are those unemployed, desperately looking for a job at a time of extreme uncertainty when no corporation or small business is going to hire. Even as the economy slowly grows in 2013 employers crave transparency in taxes, regulation and spending by government. They are not getting it from the current powers that be.

Good Trading
Steve Peasley

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