Markets Just Slipped After Senator Reid's Comments

TBI ^ | 11-27-2012 | Sam Ro

[blam]

Markets Just Slipped After Senator Reid's Comments

Sam Ro
Nov. 27, 2012, 2:29 PM

Markets have been quiet for most of the day.

But in the last few minutes, we've seen stocks lose their legs.

Bloomberg is reporting that Senate Majority Leader Harry Reid said little progress has been made regarding fiscal cliff negotiations and that he was "disappointed."

If Congress is unable to make a deal, a series of tax cuts and spending programs are set to expire by the end of the year, potentially cutting 2013 GDP by as much as 5%.

[wastedyears]

It’s by design, make no mistake about it.

[blam]

The DJIA is down 84 as I post.

[MrB]

So if they DO “make a deal”, this delays the economic collapse by a few months?

[onyx]

Down 95 as I post.

[LibFreeUSA]

The Democrats hold most of the cards of “responsibility” in this game of chicken.... SENATE and PRESIDENCY ... to get this resolved!

Besides, the majority of the country put their EGGS in the Democrat Presidency basket, putting their entire FAITH and HOPE in THE ONE!

Now let him deliver!

[Eric in the Ozarks]

They own it.

[MrB]

the “majority of the country” is only concerned with “free stuff”...

[Cyber Liberty]

Down 89 and change at close.

[Digger]

It appears that 99.5% of investors money aren’t too worried.

[blam]

"So if they DO “make a deal”, this delays the economic collapse by a few months?"

Maybe a few months.

[blam]

More Democrats Are Now Saying Any Fiscal Cliff Deal Must Address The Debt Ceiling

[onyx]

I agree. They know a band aid deal will be reached.

[Lazamataz]

They own it.

Yeah, and the Pravda Press, ever-loyal as an arm of the Democrat Party, will report it like this:

REPUBLICANS WILDLY ACCUSE DEMOCRATS OF "OWNING FISCAL CLIFF", IGNORING BUSH'S ROLE.

[crosshairs]

Reid figures he just needs to keep kicking the can down the road, until he,,,well,,, kicks the can (which according to actuarial tables, shouldn’t be long).

[onyx]

Thanks very much.

[Mouton]

“Bloomberg is reporting that Senate Majority Leader Harry Reid said little progress has been made”

in getting those on the otherside of the asile to agree with his position.

[Proud2BeRight]

Just tax those greedy achievers. The Rat voters need their free stuff.

[SkyDancer]

When it goes up and there’s a Democrat president in office they go whacka, Yea It’s UP!! If it went down they say, oh well it’s just a number.

[stockpirate]

I say do nothing and the democrats are the one’s in command and let’s put the blame on them.