I like the commentators who call it a fiscal "curb" or a fiscal "slope," because it isn't really as drastic as a cliff. Fox News blows everythng so out of proportion, don't they?
A friend tells me the drop in the stock market indeces is due to the re-election of the president. Obama is bad for business, he says. I joke to him, "Now you got me worried."
Actually, listening to the commentators on CNBC, it sounds like investors are more worried about this fiscal cliff thing and the Europeans than who got elected president. I suppose though that the stock and bond indicators are at least indirectly related to the election results. Don't worry, things will get back to normal soon. It's all mass psychology.
I'm looking forward to this "fiscal cliff" drama, or is it going to be a comedy? The politics of it are incredibly fascinating, don’t you think? It's the best show in town right now.