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The charts, graphs and comments in my Trading Blog represent my technical analysis and observations of a variety of world markets...
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DISCLAIMER: All the information contained within my posts are my opinions only and none of it may be construed as financial or trading advice...
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Dots

...If the dots don't connect, gather more dots until they do...

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Wednesday, November 07, 2012

John Boehner's Speech Today

Today's speech given by Republican Speaker of the U.S. House of Representatives, John Boehner, did not fill me with any great confidence that an actual meaningful compromise would be reached on the Fiscal Cliff issue before it's due to take effect by January 1, 2013.

It simply amazes me how anyone can think that not raising taxes will ever deal with the ever-increasing U.S. National Debt, which is over $16 Trillion. 

World confidence in the U.S. will rest on whether the Republicans are prepared to work with their Democratic counter-parties and President, not just on this issue, but on all issues over the next four years. It's my opinion that this unwillingness to reach compromises, as demonstrated over the past four years, has already hurt the ability of America to recover from the last credit crises in a timely manner. Excessive money-printing by the Fed in the future without political/fiscal action will, no doubt, be seen as a smoke-screen for lack of political will...this will damage the U.S. recovery efforts even further.

***The war between its own political parties is a greater threat to America than any threat from its enemies.

I remain...unconvinced, but hopeful.