Fiscal Cliff

[Lucavia123]

Come Monday what are your plans if the fiscal cliff is not dealt with?

If it is?

I placed a bet on Friday and bought TVIX at $12.00.

[billyjoe]

Lucavia, Friday a analyst was saying he didn't want to go long on anything but, if you went short you could be ruined.


-----------------billy

[skiracer]

Lucavia, Friday a analyst was saying he didn't want to go long on anything but, if you went short you could be ruined.


-----------------billy

if you want to gamble you should go to a casino.

[Lucavia123]

if you want to gamble you should go to a casino.

It is not a gamble but an educated decision.

[Lucavia123]

Lucavia, Friday a analyst was saying he didn't want to go long on anything but, if you went short you could be ruined.


-----------------billy

There are risks in any decision. Key is to keep a clear head and tight stops.

[skiracer]

I like to be able to determine a clear trend and know that beforehand. I don't see anything in this market that illustrates that especially with what is looming coming Jan. 1, 2013 with the "fiscal cliff" scenario and the lack of leadership by our president and legislatures.

[mrmarket]

I for one am ready to accept the fact that increased taxes, combined with cuts in spending, is just what this country needs right now. It's tough medicine, yes but I think it will help us towards a cure to this horrendous deficit.

[Lucavia123]

I for one am ready to accept the fact that increased taxes, combined with cuts in spending, is just what this country needs right now. It's tough medicine, yes but I think it will help us towards a cure to this horrendous deficit.

With increased emphisis on spending cuts. Taxes alone will do nothing. The real issue with America is the constant unrelented spending of money we do not have. Of money we are printing at the most rapid pace ever seen. I personally hope we do go over the cliff and are forced to deal with the spending issues before us. Another 4 years of kicking the can down the road may lead us to a point of no return.

[skiracer]

With increased emphisis on spending cuts. Taxes alone will do nothing. The real issue with America is the constant unrelented spending of money we do not have. Of money we are printing at the most rapid pace ever seen. I personally hope we do go over the cliff and are forced to deal with the spending issues before us. Another 4 years of kicking the can down the road may lead us to a point of no return.

couldn't agree more with both of you guys.

[Lucavia123]

Seems our leaders are going to kick the can down the road for few more years. So much for hoping this time would be different. Once again the conservatives roll over when the going gets tough. What we need is a third party. One that will tell the truth and not sugar coat. What we need domestically is a Ron Paul. Too bad he is such a nut on the foreign policy.

[mrmarket]

Seems our leaders are going to kick the can down the road for few more years. So much for hoping this time would be different. Once again the conservatives roll over when the going gets tough. What we need is a third party. One that will tell the truth and not sugar coat. What we need domestically is a Ron Paul. Too bad he is such a nut on the foreign policy.

One thing about the Federal government which people overlook is the fact that 2 centuries ago we didnt have any of the communication tools that we have today, so we needed a Federal government for coordination purposes.

Today the States and local governments do have the tools to fend for themselves. The Federal government is just a cesspool of waste and entitlements.

Having said that, I would still encourage people and communities to continue to support those who are less fortunate and need our help. If there was more of this forthcoming, we'd need a lot less government and taxes.

[mrmarket]

I am very disappointed in the bandaid solution that they came up with. Once again they are kicking the can down the road. The government sucks.

[Lucavia123]

I am very disappointed in the bandaid solution that they came up with. Once again they are kicking the can down the road. The government sucks.

I wouldn't even call it a band-aid. It does absolutely nothing to solve any problems at all. Not one inch of change. If this keeps going pretty soon China will be demanding austerity measures on the US. We will become the largest Greece on the planet complete with massive riots. If you haven't started prepping for the worst this should be a glaring wake up call. If you can buy your firearms now. With the cliff averted for a few months Obama will be focusing on removing those from the hands of god fearing law abiding citizens.

May God bless America. We have strayed from the path and are surrounded in darkness. Please show us a light and lead the way back.

[mimo_100]

Similar to our personal finances, when we spend more than our income, a yellow warning light goes off. There are legitimate reasons when we can do this prudently, but not many.

Since you and I are the people who finance the government of the United States, we have a fiduciary interest in its income and expenses. In addition, we are the employers of all government positions at all levels.

We have allowed our employees to tell us how much money they should make, the hours they "work" each week, the vacations they take, the benefits they enjoy, etc., etc., etc.

There is only one solution to the problem of over spending - take away the money so that the spending stops. Similar to what we do with our children when they go astray.

We take away the money by:

1.) reducing taxes.
2.) choking the Federal Reserve System.

One last observation. Research shows that the majority of millionaires do not accumulate their wealth from their salaries - they get it from investing and the resulting capital gains. A healthy investing climate is necessary to promote healthy economic growth. The stock market will tell us how we are doing in the long run.

[mimo_100]

Warren Buffett, in a recent interview with CNBC, offers one of the best quotes about the debt ceiling:

"I could end the deficit in 5 minutes," he told CNBC. "You just
pass a law that says that anytime there is a deficit of more
than 3% of GDP, all sitting members of Congress are ineligible
for re-election.

The 26th amendment (granting the right to vote for 18 year-olds)took only 3 months & 8 days to be ratified! Why? Simple!
The people demanded it. That was in 1971 - before computers, e-mail,
cell phones, etc.

Of the 27 amendments to the Constitution, seven (7) took one (1) year
or less to become the law of the land - all because of public pressure.

Warren Buffet is asking each addressee to forward this email to
a minimum of twenty people on their address list; in turn ask
each of those to do likewise.

In three days, most people in The United States of America will
have the message. This is one idea that really should be passed
around.

Congressional Reform Act of 2012

1. No Tenure / No Pension.

A Congressman/woman collects a salary while in office and receives no
pay when they're out of office.

2. Congress (past, present & future) participates in Social
Security. All funds in the Congressional retirement fund move to the
Social Security system immediately. All future funds flow into
the Social Security system, and Congress participates with the
American people. It may not be used for any other purpose.

3. Congress can purchase their own retirement plan, just as all
Americans do.

4. Congress will no longer vote themselves a pay raise.
Congressional pay will rise by the lower of CPI or 3%.

5. Congress loses their current health care system and
participates in the same health care system as the American people.

6. Congress must equally abide by all laws they impose on the
American people.

7. All contracts with past and present Congressmen/women are void. The American people did not make these contracts. Congress made all these contracts for themselves