What Is "The Fiscal Cliff?"
It is the topic streaming through media headlines, and the following shows the soaring number of Google searches for the term since Obama was re-elected.
I have spent little to no time discussing it here because I believe a compromise will be reached. In the meantime it gives the mainstream media the ability to blame the daily fall in stock market prices over the "fear" of going over the "cliff." Or some even want to blame it on Obama. The truth is that the global economy is slowing, earnings are falling, and trade is grinding to a halt - a more important topic I will be discussing in far greater detail this week.
For those that want the details on this cliff, the Wall Street Journal provided a great graphic this week going through the numbers. Click for larger image:
I have spent little to no time discussing it here because I believe a compromise will be reached. In the meantime it gives the mainstream media the ability to blame the daily fall in stock market prices over the "fear" of going over the "cliff." Or some even want to blame it on Obama. The truth is that the global economy is slowing, earnings are falling, and trade is grinding to a halt - a more important topic I will be discussing in far greater detail this week.
For those that want the details on this cliff, the Wall Street Journal provided a great graphic this week going through the numbers. Click for larger image:
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