Monday, December 24, 2012

Fiscal Cliff is Media Hype

Two months ago, I said Washington had no plans to block the fiscal cliff inevitability.  The political parties are just looking for ways to have the other blamed.  It looks like my prediction is likely to come true.  The markets will react negatively, initially, but recover in reasonable time because the changes about to happen on Jan 1’st are a necessary good.   The market will react to a future of Washington incompetence and not to the fiscal cliff.

Remember Y2K?  Planes were predicted to fall from the sky.  Nothing has changed in world of media hype.  Below is another hyped story.  Tired yet of being a pawn?

  • The U.S. Postal Service is bleeding money and heading toward insolvency
  • Congress can save the postal service in deal on the fiscal cliff
  • Urgency is clear
  • Washington dysfunction can doom the postal service

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