Posted on 05/11/2012 12:51:34 PM PDT by blam
Why You Can't Ignore The Fiscal Cliff
Comstock Partners
May 11, 2012, 2:11 PM
In addition to the economic slowdown, the continued housing crisis, the endless turmoil in Europe and the deceleration in China and India, we are moving closer to the period where the so-called 'fiscal cliff' will become more of a threat to the market. The fiscal cliff refers to the near-simultaneous January 2013 expiration of the Bush tax cuts, the payroll tax cuts, emergency unemployment benefits and the sequester established in last summer's debt limit agreement. Various estimates have indicated that the hit to GDP could be as high as 4%. Many on Wall Street dismiss these concerns on the grounds that Congress and the administration will simply extend everything and, once again, 'kick the can down the road'. That may eventually happen, but it won't be easy.
Various members of the Federal Reserve Board, including the Chairman, have been concerned enough to make their worries publically known. Bernanke, at his last press conference, said that the size of the fiscal cliff was so large that "I think there's absolutely no chance that the Federal Reserve could or would have any ability whatsoever to offset the effect on the economy".
Chicago Fed president Charles Evans added that "The cliff at the end of this year is just that writ large. Whether or not calm heads will prevail and avoid this or do something useful, you know that's as big an uncertainty as I can imagine anybody facing." Atlanta Fed president Dennis Lockhart stated "Congress and the administration understand that the perception is growing that if a transition isn't engineered that works well, that you're going to end up with a lot of Mojo taken out of the economy in a very brief
(snip)
(Excerpt) Read more at businessinsider.com ...
If the Rats think Obama is toast, they will go “scorched Earth”.
—If the Rats think Obama is toast, they will go “scorched Earth”.—
They’ll try, I agree. But mostly they will burn down their own neighborhoods. As Fred says,
“So far, whites have not pushed back. They have no way of doing so. Powerful strictures, supported by the courts, enforced by the media and inculcated by the schools, militate against even discussing race openly—though the taboo wanes. Whites seldom riot, are not yet alarmed enough, have no focus for hostility, no leader, and don’t agree that hostility is justified. Yet. But if they begin to feel backed into a corner, if they begin to think in terms of us agin’ them, if they foresee becoming a downtrodden minority in their own country. . . they may rebel.
The results would be awful. Whites would win any real confrontation, being far more numerous, richer, and better armed and organized. They also control the food supply, which may not have occurred to angry urban populations. But the country would be wrecked.”
And here:
“It had better not happen, but it could. Any spark could light it. One day the underclass, rioting, may go into white neighborhoods to stomp and burn. They won’t expect resistance, because they have never met it. I don’t think Al and Jesse quite know how many deer guns, how many Weatherbys and .223s sit quietly in closets out here. If a mob comes toward a man’s home, where his wife and children are, the results will be astonishing. The police will immediately polarize, black versus white. So will everybody else. Government will be irrelevant. And the whole country just might blow up.
If that happens, God help us.”
>> And the whole country just might blow up.
At their core, the “stompers and burners” are utter cowards.
Kill a couple hundred nationwide for taking the riot to whie areas, and the word will get around and they’ll back away from those white areas.
What then? Probably turn on each other, with horrific results. “Crapping in their own nest” doesn’t even BEGIN to describe it.
Pretty much no matter what form the upcoming calamity takes, “holder’s people” are going to bear the brunt of it. Just desserts for failing to assimilate; for wearing the role of victim for way too long; for willingly staying on the ‘rat plantation instead of joining America as (just) Americans and taking personal responsibility for their lives instead of sucking the government tit.
That's how I see it as well. Those "FEMA camps" and endless stacks of cheap plastic coffins are not being reserved for society's producers.
We’ve kicked the can so far down the road that we are running out of road and the can which was once the size of a soda can is now the size of an oil drum (Try kicking that!)
For those who are just starting or are old hands at prepping you may find my Preparedness Manual helpfull. You can download it at:
http://tomeaker.com/kart/Preparedness1j.pdf
NOTE! THIS IS A FREE DOWNLOAD. I DO NOT MAKE ONE CENT OFF MY PREPAREDNESS MANUAL!
For those of you who haven’t started already it’s time to prepare almost past time maybe. You needed to be stocking up on food guns, ammo, basic household supplies like soap, papergoods, cleaning supplies, good sturdy clothes including extra socks, underwear and extra shoes and boots, a extra couple changes of oil and filters for your car, tools, things you buy everyday start buying two and put one up.
As the LDS say “When the emergency is upon us the time for preparedness has past.”
Or as the bible says: A prudent man sees danger and takes refuge, but the simple keep going and suffer for it.
NIV Proverbs 22:3
Lastly this for the doubters and the scoffers.
“There is no greater disaster than to underestimate danger.
Underestimation can be fatal.”
Just watch Kalifornia this summer. The rioters have been given a green light from the Obama administration, Governor Moon Beam and local corrupt Mayors. Since the left has plainly stated that government austerity measures are not possible, Kalifornia has to crash. No other option is available now. Have a fire captain friend from So Cal who fully expects a full salary when he retires. Silly fool.
” - - - - In any event, it seems to us that the three-year cyclical bull market is in the process of topping out, and that the secular bear market will resume.”
How often does a Bear Market start in late Spring of a National Election Year?
Read more: http://www.businessinsider.com/why-you-cant-ignore-the-fiscal-cliff-2012-5#ixzz1ubFPPNIM
Kalifornia, Chicago, Philadelphia, Milwaukee, Detroit, Atlanta ...
I have a New Zealand immigrant neighbor who believes exactly the same thing. I don't....I think it will take food shortages.
Rioting requires effort.
I can't remember where I read it, and I hope it's not an Urban Legend, but it might have been during the Rodney King riots where either a city mayor or state Governor said that if riots broke out, he'd call up the National Guard, issue them ball ammo and give them orders to shoot looters. The area remained as calm as a mill pond.
As a sidebar, I am always infuriated when people in high positions, elected or private enterprise, cave in to a mouthy minority who are "offended" by some law or event. They only reason they have the illusion of power is because they are listened to instead of being blown off. A couple of instances of "Tough Noogies" or the more tactful "We'll take your complaint under consideratoion (and then ignore it)" would take the wind out of their sails.
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