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.
Welcome and thank you for visiting!
The charts, graphs and comments in my Trading Blog represent my technical analysis and observations of a variety of world markets...
* Major World Market Indices * Futures Markets * U.S. Sectors and ETFs * Commodities * U.S. Bonds * Forex
* The content in my articles is time-sensitive. Each one shows the date and time (New York ET) that I publish them. By the time you read them, market conditions may be quite different than that which is described in my posts, and upon which my analyses are based at that time.
* My posts are also re-published by several other websites and I have no control as to when their editors do so, or for the accuracy in their editing and reproduction of my content.
* From time to time, I will add updated market information and charts to some of my articles, so it's worth checking back here occasionally for the latest analyses.
DISCLAIMER: All the information contained within my posts are my opinions only and none of it may be construed as financial or trading advice...
UPCOMING (MAJOR) U.S. ECONOMIC EVENTS...
* Tues. July 3 ~ U.S. markets close early at 1:00 pm ET
* Wed. July 4 ~ U.S. markets closed for Independence Day Holiday
* Thurs. July 5 @ 2:00 pm ET ~ FOMC Meeting Minutes
* Fri. July 6 @ 8:30 am ET ~ Employment Data
* Thurs. July 12 @ 8:30 am ET ~ MoM & YoY CPI & Core CPI Data
* Wed. July 18 @ 2:00 pm ET ~ Beige Book Report
* Wed. Aug. 1 @ 2:00 pm ET ~ FOMC Announcement
* Mon. Sept. 3 ~ U.S. markets closed for Labour Day Holiday
* Wed. Sept. 26 @ 2:00 pm ET ~ FOMC Announcement + FOMC Forecasts + @ 2:30 pm ET ~ Fed Chair Press Conference
*** Click here for link to Economic Calendars for all upcoming events
IMPORTANT BLOG POST UPDATES...
* Trade Wars have escalated and now include diplomatic wars PLUS President Trump is cannibalizing prior U.S. market gains
with his tariff tantrums against its world trading partners, while destabilizing a delicate world market balance