Tonight the Senate and the House passed the fiscal cliff bill that raises taxes and doesn't cut spending enough to even notice. So we get this new tax increase along with the Obamacare tax increase.
The GOP simply folded up. But then, I always knew they would. I've been writing about it here at FG- for four years. http://www.cnn.com/2013/01/01/politics/fiscal-cliff/index.html
Truth passes through 3 stages.
Get this. The tax hikes will only raise 60 billion a year. Two weeks worth of government spending. Interesting but hardly uncharacteristic, no mention was made regarding the debt ceiling hike.
You'd think markets would sell off in dramatic fashion as debt continues to soar and more taxes means less investment income. Not so. In fact futures are absolutely soaring like this is the greatest thing that ever happened. More taxes, more debt. It's like living in some bizarro echo chamber where terrible news is somehow seen as positive.
I have been waiting to short this market. Thank gawd, I've been around a day or two. I couldn't short the market until this last piece of kabuki theater was over with. http://finance.yahoo.com/blogs/the-exchange/fiscal-cliff-stocks-rise-rocked-213221114.html At the peak tomorrow or Thurs., I am going to get short. So after the big vote tonight I visited a couple of futures' sites along with Ace of Spades HQ just to see what they were writing.
I've listened to Ace and his followers bash libertarians, offer up rich and elite ass clowns like Mc Cain and Romney as Presidential candidates, and then lose elections. Why? Because they simply can't figure out that there isn't one shred of difference between the GOP and the Dems. Both parties have been selling the citizens of this country out for 30 years.
Only the GOP is getting the worst of it. They are the party of old man whitey. They want to tell women and everyone else what to do and how to behave. The rich and elite want to pay poverty wages and no taxes. The majority is sick of that shit. And old man whitey is now the minority. In a mob rule democracy, the minority feels the pain. The GOP is the minority and permanently. Only Ace's side can't figure that out. I suppose because his entire site is devoted to the illusion of a "conservative" GOP.
Here's the best part. As much as I hate the cowards of the GOP, the Dems are even worse. But unfortunately, for now, they are in charge.
Next up, gun control. It's like a nightmare that won't go away.
I don't want to spend the rest of this year kicking a dead horse. If the GOP faithful want to sit around and pray for a comeback, who am I to stand in the way? Like buggy whips and rotary phones, the old version of the GOP ain't coming back anytime soon.