/johnny
They have an alternative. Raise their prices. All taxes, fees, fines, regulated upgrades, etc. are always paid for by consumers.
Sold off my cow/calf operation this year. Have enough on my home pasture to sustain beef for my family and to sale for cash to friends.
Will not sale beef to feed yankees and Obamabots.
Closing out banking accounts this year. Pulling IRAs and 401Ks after the 1st of the year.
All in cash, food, precious metals and be ready to rebuild when the crash is over with and if I survive.
FUBO and the FERAL Government
Nationalize (and throw that uppity non-producer in jail for good measure).
Did you think they wouldn't have a plan B?
The only thing that is certain is that there are always some people on the margin. Their behavior is the most predictable. Those who are on the brink of bankruptcy with go bankrupt. Those on the brink of firing employees will fire employees. Those on the brink of selling their businesses and retiring will sell—if they are lucky—and retire.
In other words, it is a certainty that SOME people will “go Galt,” whether doing so becomes a “movement” or not.
Face it, compared to the entire debt, this "fiscal cliff" is a little mole-hill. 1.6 trillion? bah.
But if they can't find a way to agree to ANYTHING here, then holders of US treasuries and other instruments are going to have to take a SERIOUS look over if they will EVER get paid for the securities instruments.
They're going to come to the realization, NO, and a panic could set in.
Low chance maybe, but something that needs to be considered.
The left's answer is that Clinton raised the taxes, and look at all of the jobs "he created".
Of course, those jobs were created by the tech boom. The need to update the old mainframes for Y2K, the need to migrate the mainframes to servers, and the need to set up the servers for Ecommerce all created those tech jobs. None of this had anything to do with anything Clinton did, but the MSM saw to it that he got the credit. This needs to be pointed out.
Yup, the law of unintended consequences.
The folks was flaming
Out of control
It was so entertainin’
When the boogie started to explode
I heard somebody say
Burn baby burn, disco inferno
Burn baby burn, burn that mama down
Millions of individual and collective decisions will be made in the new year. Going in the Galt direction is ongoing, but whether it will increase is unknown. I think it is likely to increase somewhat.
N.B. I’ve been about 75% Galt since 2008. Only the true crazies go all the way, God love ‘em.
California tax revenue from business is down 10% for November, almost a BILLION DOLLARS. Business has been leaving at about 5 a week.
Producers will raise prices and down size....They'll make the same money with 1/2 the overhead!!
When that's no longer feasible...then they'll stop producing!.. (That used to be covered in day 1 of most Economic 101 classes )
I think many an enterprising small business will split into smaller units, each unit small enough to avoid Obamacare, and run by part of the family. Each unit member will limit income received to less than $200,000. Of course, each unit will maximize expenses such as vehicles, convention trips, etc. The other thing I think will arise is black market bartering which has taken off in some areas of the US already to avoid taxes.
It would be terrific if it did happen. Where’s the Gulch?
To illustrate, I ordered a “slew” (that means a lot) of Tenergy rechargeable D batteries today and that's part of “my” power grid when “theirs” collapses. I've had it with “them” and trust myself for my future, not “them”.
I’m just an ordinary guy, but I’m dropping out as of Dec 28 when I walk away from a high paying, prestigious job at the top of my professional food chain. I’m not going to be unproductive, but simply doing the things I want to do.
I suspect even more than Going Galt there will be legions like me Going Underground, as in underground cash economy.
a 20 yr old family restaurant in florida i know will be forced to either cut hours to under 28, or close the business. the owner knows the 25+ people won’t be able to survive on that.
her choice is comply and close or comply and watch employees go broke... and eventually close
i say she has a third option.. an option company owners around the country should try.
have employees sign a document opting out of the federal healthcare bs... and proceed to refuse the ‘law’
the left encourages civil disobience... lets see how long the hold that position (i know, about 5 seconds)
It's our standard of living that's going off the cliff to be torn apart on the rocks below.
That would be enough to put the economy into a deep recession!!!
Lets hope it happens.