Yesterday we had a nice rally in the equity markets. Okay, what's not to like besides my great friend in Boulder taking it on the chin with his massive put option position? How could it be a surprise?
The
sigh of relief was palpable that Congress did something,
anything to address our fall over the "fiscal cliff", a rather lame term when compared to the FISCAL CRISIS coming soon.
If I were you, and I'm not, (you are the lucky one), I would not get too excited!
We
raised taxes, we penalized those succeeding and we did it in a meaningful
manner.
We did not cut the national debt as sung by the chorus across the
airwaves. In fact, according to the Congressional Budget Office we decreased
revenues by $3.6 trillion over ten years. We did not protect the middle class,
but because of the expiration of the payroll tax decrease, Federal taxes will
rise for 77% of all working Americans. If you look at all the "pork" in the bill you might get hungry.
It's true folks, admit it. Our government eats up wealth and shits out poverty. Indian reservations are a great example. Believe it.
In a nutshell, this bill (for those in Mandaree, Pine Ridge or Crow Agency) awarded non-working
Americans at the expense of those who have jobs, who actually work.
The con game was (and is) the
continuation of postponement and avoidance and reckless governance of the
nation we live in. May the Creator shine on you and yours this year.
I still believe the best is yet to come. I hope you do to.
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