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(Marketwatch)   Analyst wants you to stop calling it a "Fiscal Cliff." A "Fiscal Sam Malone" doesn't have the same ring, though   (marketwatch.com) divider line 50
    More: Unlikely, ordinary income  
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914 clicks; posted to Business » on 14 Nov 2012 at 1:42 PM (2 years ago)   |  Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



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2012-11-14 12:24:50 PM  
I prefer the Fiscal NORM!
 
2012-11-14 12:30:31 PM  
Well ya see, Norm, it's like this. A herd of buffalo can only move as fast as the slowest buffalo. And when the herd is hunted, it is the slowest and weakest ones at the back that are killed first. This natural selection is good for the herd as a whole, because the general speed and health of the whole group keeps improving by the regular killing of the weakest members. In much the same way, the human brain can only operate as fast as the slowest brain cells. Excessive intake of alcohol, as we know, kills brain cells. But naturally, it attacks the slowest and weakest brain cells first. In this way, regular consumption of beer eliminates the weaker brain cells, making the brain a faster and more efficient machine. That's why you always feel smarter after a few beers.
 
2012-11-14 01:04:49 PM  
That story gives me a fiscal Woody.
 
2012-11-14 01:47:36 PM  
Fiscal Krapence?
 
2012-11-14 01:49:00 PM  
So should we call it a fiscal fisting then?
 
2012-11-14 01:52:05 PM  
I believe the Republican word for "cliff" is "bluff".
 
2012-11-14 01:57:58 PM  
FINANCIAL MAYDAY!
 
2012-11-14 02:06:58 PM  
I think we need a Fiscal Coach.
 
2012-11-14 02:10:31 PM  
We should just call it the Fiscal Fark You Pocketbook
 
2012-11-14 02:18:36 PM  
We'll I'll be darned...
Turns out I had a Fiscal Woody all along.
 
2012-11-14 02:32:17 PM  
Lance Manion

/got nuthin'
 
2012-11-14 02:33:26 PM  

Fo Shiz: Well ya see, Norm, it's like this. A herd of buffalo can only move as fast as the slowest buffalo. And when the herd is hunted, it is the slowest and weakest ones at the back that are killed first. This natural selection is good for the herd as a whole, because the general speed and health of the whole group keeps improving by the regular killing of the weakest members. In much the same way, the human brain can only operate as fast as the slowest brain cells. Excessive intake of alcohol, as we know, kills brain cells. But naturally, it attacks the slowest and weakest brain cells first. In this way, regular consumption of beer eliminates the weaker brain cells, making the brain a faster and more efficient machine. That's why you always feel smarter after a few beers.


I'm going to take notes here.
*drink beer while working*

Got it. Thanks!
 
2012-11-14 03:03:13 PM  

FirstNationalBastard: I prefer the Fiscal NORM!


It's a dog eat dog world and I'm wearing Milkbone underwear.
 
2012-11-14 03:11:13 PM  
"Rex Nutting" would be a good porn name.
 
2012-11-14 03:42:00 PM  
Fiscal Frasier?
 
2012-11-14 03:51:27 PM  

Glenford: FirstNationalBastard: I prefer the Fiscal NORM!

It's a dog eat dog world and I'm wearing Milkbone underwear.


"Women, can't live with them....pass the beer nuts."
 
2012-11-14 04:03:08 PM  

karmaceutical: FINANCIAL MAYDAY!


It'll be the only economic downturn that's had a groin injury. I said a gr-gr-groin gr-gr-gr-groin, groin injury!
 
2012-11-14 04:12:20 PM  
More like "Fiscal game of chicken".
 
2012-11-14 04:17:38 PM  
More like this years excuse for once again extending the "temporary" Bush tax cuts for the rich that should have expired two years ago.

Remember how we very nearly had a balanced budget until the Bush tax cuts went into effect?
 
2012-11-14 04:26:15 PM  
You know what gets me about this whole is that it is completely manufactured.

what I heard on NPR was that Congress is going to kick the can down for a couple of weeks and have the new Congress deal with it.
 
2012-11-14 04:45:35 PM  
My favorite Fiscal Cheers were the episodes between the Fiscal Coach/Fiscal Woody changeover and the Fiscal Diane/Fiscal Rebecca changeover. That's my favorite Fiscal Timeframe, personally.
 
2012-11-14 04:53:48 PM  
"Fiscal Lillith" does roll off the tongue with a certain fluidity.


/mmm, Bebe Neuwirth in her prime...
 
2012-11-14 06:01:45 PM  
Am I the only person in the country rooting for the sequester to hit? If congress and Obama do absolutely nothing:

- Taxes go back to Clinton levels
- Defense spending is cut by ~$100B/year

Why is it that defense is such a goddamn sacred cow that everyone will nuke the entire world to prevent a single dollar from being shaved from its budget? You know damn well the GOP is going to fight like hell to prevent it from being cut, and this is the best and only opportunity we'll ever have to see it happen. It's the lowest hanging fruit in the budget. Negotiate if you must, Dems, but don't you dare give up the defense cuts!
 
2012-11-14 06:02:37 PM  
Read in this mornings paper that there are a few Dems that actually want to fall off the "Fiscal Cliff". It will put them in a better position for negotiations with the Repubs.
These politicians need to start working for their constitutes instead of their respective parties. None of our representatives give a damn about a second recession, falling 401K's, the numbers of unemployed folks, and our financials what so ever. As long as they don't appear to be weak to their parties.
Note to our representatives: You bastards better start working together and fix this shiat before we fall off the cliff, or GTFO. And while I'm here, I'm not the guy that spent all that money you pissed away. I have to live within a budget, you do too. Don't piss away your allowance and come to me looking for more money, be responsible with our money
 
2012-11-14 06:05:02 PM  

Tommy Moo: Am I the only person in the country rooting for the sequester to hit? If congress and Obama do absolutely nothing:

- Taxes go back to Clinton levels
- Defense spending is cut by ~$100B/year

Why is it that defense is such a goddamn sacred cow that everyone will nuke the entire world to prevent a single dollar from being shaved from its budget? You know damn well the GOP is going to fight like hell to prevent it from being cut, and this is the best and only opportunity we'll ever have to see it happen. It's the lowest hanging fruit in the budget. Negotiate if you must, Dems, but don't you dare give up the defense cuts!


It'll be a kick in the dick. I would prefer it to extending everything to everyone forever. I would even MORE prefer a compromise in the middle right now that can lead TOWARDS the full restoration without it dropping all at once.
 
2012-11-14 06:21:04 PM  
eh...pull the plug.

they deserve to sit in the dark.
 
2012-11-14 06:36:46 PM  

BullBearMS: More like this years excuse for once again extending the "temporary" Bush tax cuts for the rich that should have expired two years ago.

Remember how we very nearly had a balanced budget until the Bush tax cuts went into effect?


has the sneaky feeling you are correct. 4 more years of happiness & joy. when one owns the Monopoly game they get to make up the rules as they go along.
 
2012-11-14 06:55:17 PM  

KrispyKritter: BullBearMS: More like this years excuse for once again extending the "temporary" Bush tax cuts for the rich that should have expired two years ago.

Remember how we very nearly had a balanced budget until the Bush tax cuts went into effect?

has the sneaky feeling you are correct. 4 more years of happiness & joy. when one owns the Monopoly game they get to make up the rules as they go along.


If you recall, the excuse last time was "OMG! JOB CREATORS!!!11!"

Thankfully, since then, we have reached 100% employment.

Oh, wait...
 
2012-11-14 07:08:02 PM  

cig-mkr: Read in this mornings paper that there are a few Dems that actually want to fall off the "Fiscal Cliff". It will put them in a better position for negotiations with the Repubs.
These politicians need to start working for their constitutes instead of their respective parties. None of our representatives give a damn about a second recession, falling 401K's, the numbers of unemployed folks, and our financials what so ever. As long as they don't appear to be weak to their parties.
Note to our representatives: You bastards better start working together and fix this shiat before we fall off the cliff, or GTFO. And while I'm here, I'm not the guy that spent all that money you pissed away. I have to live within a budget, you do too. Don't piss away your allowance and come to me looking for more money, be responsible with our money


www.slate.com

Link
 
2012-11-14 07:14:02 PM  

Tommy Moo: Am I the only person in the country rooting for the sequester to hit? If congress and Obama do absolutely nothing:

- Taxes go back to Clinton levels
- Defense spending is cut by ~$100B/year

Why is it that defense is such a goddamn sacred cow that everyone will nuke the entire world to prevent a single dollar from being shaved from its budget? You know damn well the GOP is going to fight like hell to prevent it from being cut, and this is the best and only opportunity we'll ever have to see it happen. It's the lowest hanging fruit in the budget. Negotiate if you must, Dems, but don't you dare give up the defense cuts!


Ever see a Democrat with a military base or weapons program in his/her district threatened? Cornered wolverines fight with less intensity.
 
2012-11-14 07:21:13 PM  
 
2012-11-14 08:49:34 PM  
Someone's watching TCM right now, eh?
 
2012-11-14 09:09:45 PM  
Obama's Katrina
 
2012-11-14 09:37:06 PM  

cig-mkr: . None of our representatives give a damn about a second recession, falling 401K's


Not trying to be snarky, but this is fark, so it's a requirement.

Seeing as the dow jones is up about 1000 over the past 10 years, and has doubled since it's low in 2008, I'm curious who handles your 401k? Glenn Beck? What SHOULD the stock market be at to make your 401k happy?
 
2012-11-14 10:02:49 PM  

snowshovel: cig-mkr: . None of our representatives give a damn about a second recession, falling 401K's

Not trying to be snarky, but this is fark, so it's a requirement.

Seeing as the dow jones is up about 1000 over the past 10 years, and has doubled since it's low in 2008, I'm curious who handles your 401k? Glenn Beck? What SHOULD the stock market be at to make your 401k happy?


DJIA was what? ~ 13550 in October and now it's 12570 ? Down 6.36% in a month. And it's dropped (about) 600 points since the election, Fiscal Cliff jitters?
It's Fidelity by the way and I'd be satisfied with early Octobers 13550.
 
2012-11-14 10:03:14 PM  
Then again there may be something to worry about.

photos.imageevent.com

See the early "Fiscal Cliffs" that we created during earlier times of war. After the wars were over the counterfeit we printed up to finance them was gradually withdraw out of the system. It sort of looks like after World War One the working the counterfeit out of the system went awry. I'll bet someone got a brainy idea of putting the load of drawing it out of the system on someone unsuspecting and caused a crash.

Anyway as you can see where we are at...maybe cliff is a serious understatement.

Some sort of Godzillian Protuberance

???

photos.imageevent.comClick to embiggen
 
2012-11-14 10:13:51 PM  

dumbobruni: cig-mkr: Read in this mornings paper that there are a few Dems that actually want to fall off the "Fiscal Cliff". It will put them in a better position for negotiations with the Repubs.
These politicians need to start working for their constitutes instead of their respective parties. None of our representatives give a damn about a second recession, falling 401K's, the numbers of unemployed folks, and our financials what so ever. As long as they don't appear to be weak to their parties.
Note to our representatives: You bastards better start working together and fix this shiat before we fall off the cliff, or GTFO. And while I'm here, I'm not the guy that spent all that money you pissed away. I have to live within a budget, you do too. Don't piss away your allowance and come to me looking for more money, be responsible with our money

[www.slate.com image 600x497]

Link


Definition of 'Marginal Tax Rate'
The amount of tax paid on an additional dollar of income. The marginal tax rate for an individual will increase as income rises. This method of taxation aims to fairly tax individuals based upon their earnings, with low income earners being taxed at a lower rate than higher income earners.

I don't care who the person is, but to tax them 70-90 % (1940-1980) is just flat out wrong. All you were doing is busting your nuts to pay them more.
Another thing is the dividend taxes about to go up, from 15 to 43% is also wrong. They didn't save the money to buy the stocks, take the hits when it fell, and waited for it to grow. Now to stand there with their hand out because you happened to make out OK sucks.
 
2012-11-14 10:14:42 PM  

Fo Shiz: Well ya see, Norm, it's like this. A herd of buffalo can only move as fast as the slowest buffalo. And when the herd is hunted, it is the slowest and weakest ones at the back that are killed first. This natural selection is good for the herd as a whole, because the general speed and health of the whole group keeps improving by the regular killing of the weakest members. In much the same way, the human brain can only operate as fast as the slowest brain cells. Excessive intake of alcohol, as we know, kills brain cells. But naturally, it attacks the slowest and weakest brain cells first. In this way, regular consumption of beer eliminates the weaker brain cells, making the brain a faster and more efficient machine. That's why you always feel smarter after a few beers.



Or then you could shoot the lead bull and all of the other Buffalo would stand around grazing during the slaughter.

As for brain cells...

hey! I'll bet your right!
 
2012-11-14 10:21:14 PM  
Let's remind ourselves of what the bipartisan "solution" to the "Fiscal Cliff" looks like:

What the co-chairmen are proposing is a mixture of tax cuts and tax increases - tax cuts for the wealthy, tax increases for the middle class. They suggest eliminating tax breaks that, whatever you think of them, matter a lot to middle-class Americans - the deductibility of health benefits and mortgage interest - and using much of the revenue gained thereby, not to reduce the deficit, but to allow sharp reductions in both the top marginal tax rate and in the corporate tax rate.

It will take time to crunch the numbers here, but this proposal clearly represents a major transfer of income upward, from the middle class to a small minority of wealthy Americans. And what does any of this have to do with deficit reduction?

Let's turn next to Social Security. There were rumors beforehand that the commission would recommend a rise in the retirement age, and sure enough, that's what Mr. Bowles and Mr. Simpson do. They want the age at which Social Security becomes available to rise along with average life expectancy. Is that reasonable?

The answer is no, for a number of reasons - including the point that working until you're 69, which may sound doable for people with desk jobs, is a lot harder for the many Americans who still do physical labor.

But beyond that, the proposal seemingly ignores a crucial point: while average life expectancy is indeed rising, it's doing so mainly for high earners, precisely the people who need Social Security least. Life expectancy in the bottom half of the income distribution has barely inched up over the past three decades. So the Bowles-Simpson proposal is basically saying that janitors should be forced to work longer because these days corporate lawyers live to a ripe old age.


Remember that when the Democrats and Republicans agree that something must be done, you're about to be farked without a reach around or lube.

Is America stupid enough to let them get away with it because the media goes on and on about avoiding something they call a "Fiscal Cliff"?

dl.dropbox.com
 
2012-11-14 10:27:03 PM  

evilmrsock: Tommy Moo: Am I the only person in the country rooting for the sequester to hit? If congress and Obama do absolutely nothing:

- Taxes go back to Clinton levels
- Defense spending is cut by ~$100B/year

Why is it that defense is such a goddamn sacred cow that everyone will nuke the entire world to prevent a single dollar from being shaved from its budget? You know damn well the GOP is going to fight like hell to prevent it from being cut, and this is the best and only opportunity we'll ever have to see it happen. It's the lowest hanging fruit in the budget. Negotiate if you must, Dems, but don't you dare give up the defense cuts!

It'll be a kick in the dick. I would prefer it to extending everything to everyone forever. I would even MORE prefer a compromise in the middle right now that can lead TOWARDS the full restoration without it dropping all at once.


I think we need a collective kick in the dick. We've been living irresponsibly for a long time. Both parties share some blame. Going off the fiscal cliff would get taxes back to clinton levels, cut defense spending, and cut some other discretionary spending. These are all good things, despite the negative short term economic impact. I hope Obama has the balls to do this instead of farking around.
 
2012-11-14 10:32:39 PM  

jjorsett: Tommy Moo: Am I the only person in the country rooting for the sequester to hit? If congress and Obama do absolutely nothing:

- Taxes go back to Clinton levels
- Defense spending is cut by ~$100B/year

Why is it that defense is such a goddamn sacred cow that everyone will nuke the entire world to prevent a single dollar from being shaved from its budget? You know damn well the GOP is going to fight like hell to prevent it from being cut, and this is the best and only opportunity we'll ever have to see it happen. It's the lowest hanging fruit in the budget. Negotiate if you must, Dems, but don't you dare give up the defense cuts!

Ever see a Democrat with a military base or weapons program in his/her district threatened? Cornered wolverines fight with less intensity.


If we're going to just create jobs for the sake of people having them, then those people are on welfare. Keynesianism can make sense, but only if the people employed are doing something useful that returns value to the taxpayers. Lay off every person working a useless job making mothball scrap excess that's going to rust in a military hangar. Decrease DOD budget by 10%. Increase DOE and DOT budgets by a small amount and rehire all those people to build shiat that is actually worth something.
 
2012-11-14 10:37:46 PM  

cig-mkr: snowshovel: cig-mkr: . None of our representatives give a damn about a second recession, falling 401K's

Not trying to be snarky, but this is fark, so it's a requirement.

Seeing as the dow jones is up about 1000 over the past 10 years, and has doubled since it's low in 2008, I'm curious who handles your 401k? Glenn Beck? What SHOULD the stock market be at to make your 401k happy?

DJIA was what? ~ 13550 in October and now it's 12570 ? Down 6.36% in a month. And it's dropped (about) 600 points since the election, Fiscal Cliff jitters?
It's Fidelity by the way and I'd be satisfied with early Octobers 13550.


I think the drop has been a good thing as it seems to indicate a return to some value in the dollar. As it and other commodities dropped during the past year I saw more people returning to being able to make a living. At least that's what I'm thinking the increase in morning traffic indicates. And that is how tight I think that have tapped us dry.

I've been conditioned to hate to see the stock market go down. Then again it now all just seems and illusion that it goes up at all. When ever they counterfeit the money supply and double it sure we get twice as many of something worth half as much. Then to top it the more it goes up the more that gets grabbed away with capital gains taxes.

The system is broken at every turn.

Check out this Dow Jones Industrial chart and compare it to the U.S Price levels chart above. If your not seeing that the total DOW increase is totally accountable by inflation, try and divide the DOW chart by 100.

photos.imageevent.com
 
2012-11-14 10:41:33 PM  

cig-mkr: snowshovel: cig-mkr: . None of our representatives give a damn about a second recession, falling 401K's

Not trying to be snarky, but this is fark, so it's a requirement.

Seeing as the dow jones is up about 1000 over the past 10 years, and has doubled since it's low in 2008, I'm curious who handles your 401k? Glenn Beck? What SHOULD the stock market be at to make your 401k happy?

DJIA was what? ~ 13550 in October and now it's 12570 ? Down 6.36% in a month. And it's dropped (about) 600 points since the election, Fiscal Cliff jitters?
It's Fidelity by the way and I'd be satisfied with early Octobers 13550.


401k is meant to be a long term investment. The markets don't continually go up every day. Sometimes they go down. Complaining that they are down from 90 days ago is a day trader's way of thinking, really. The markets overreact to anything.

I'm guessing that most of the October drop was due to uncertainty via a)the elections and b)Sandy. And now the fiscal cliffy thing. And it'll be back up in a few months when the cliffy thing gets resolved, in one way or another. And then some other unforseen disaster will come along.
 
2012-11-14 11:27:45 PM  

StokeyBob: cig-mkr: snowshovel: cig-mkr: . None of our representatives give a damn about a second recession, falling 401K's

Not trying to be snarky, but this is fark, so it's a requirement.

Seeing as the dow jones is up about 1000 over the past 10 years, and has doubled since it's low in 2008, I'm curious who handles your 401k? Glenn Beck? What SHOULD the stock market be at to make your 401k happy?

DJIA was what? ~ 13550 in October and now it's 12570 ? Down 6.36% in a month. And it's dropped (about) 600 points since the election, Fiscal Cliff jitters?
It's Fidelity by the way and I'd be satisfied with early Octobers 13550.

I think the drop has been a good thing as it seems to indicate a return to some value in the dollar. As it and other commodities dropped during the past year I saw more people returning to being able to make a living. At least that's what I'm thinking the increase in morning traffic indicates. And that is how tight I think that have tapped us dry.

I've been conditioned to hate to see the stock market go down. Then again it now all just seems and illusion that it goes up at all. When ever they counterfeit the money supply and double it sure we get twice as many of something worth half as much. Then to top it the more it goes up the more that gets grabbed away with capital gains taxes.

The system is broken at every turn.

Check out this Dow Jones Industrial chart and compare it to the U.S Price levels chart above. If your not seeing that the total DOW increase is totally accountable by inflation, try and divide the DOW chart by 100.

[photos.imageevent.com image 600x398]


Insightful, yes the market isn't anything but a crapshoot, day traders don't help (but, I'll admit they really don't impact too much) but the pitiful part is that huge companies are sitting on a ton of cash and are afraid to get off of it and create more jobs, invest in research, and new innovations. If you note some, not all, are implementing a stock buyback program.
Yep, the dollar needs to strengthen and it may take a correction in the market to do it.
 
2012-11-14 11:37:09 PM  

snowshovel: cig-mkr: snowshovel: cig-mkr: . None of our representatives give a damn about a second recession, falling 401K's

Not trying to be snarky, but this is fark, so it's a requirement.

Seeing as the dow jones is up about 1000 over the past 10 years, and has doubled since it's low in 2008, I'm curious who handles your 401k? Glenn Beck? What SHOULD the stock market be at to make your 401k happy?

DJIA was what? ~ 13550 in October and now it's 12570 ? Down 6.36% in a month. And it's dropped (about) 600 points since the election, Fiscal Cliff jitters?
It's Fidelity by the way and I'd be satisfied with early Octobers 13550.

401k is meant to be a long term investment. The markets don't continually go up every day. Sometimes they go down. Complaining that they are down from 90 days ago is a day trader's way of thinking, really. The markets overreact to anything.

I'm guessing that most of the October drop was due to uncertainty via a)the elections and b)Sandy. And now the fiscal cliffy thing. And it'll be back up in a few months when the cliffy thing gets resolved, in one way or another. And then some other unforseen disaster will come along.


As I've said in the past, I'm in it for the long run. I only purchase stocks that pay good dividends, then plow the dividends back into that particular stock. It feeds on itself, and believe it or not it actually grows rather quickly.
My motto is : Stay the Course, stocks will rise and fall, when the stocks are at their high, my net worth is great, if they fall, when I plow the dividends back in I'm purchasing more stocks for the money.
Never, ever, never take money out ! If you can't afford to lose it, don't invest. Consider that money gone and / or out of reach.
/my .02 cents worth
 
2012-11-14 11:55:18 PM  
Fiscal Charlie Sheen
 
2012-11-15 01:36:30 AM  

StokeyBob: Then again there may be something to worry about.

>not using log scale


ell ohh ell. It's literally the next graph from the report that's from.



Amazing that 1745-1810 looks eerily similar to 1985 and onward. But pay no attention to this and by all means continue wetting yourself like a scared puppy because of the inflation boogyman.
 
2012-11-15 01:38:14 AM  
Seriously? bayimg doesn't work?

i48.tinypic.com
 
2012-11-15 09:14:33 AM  
LOL! Fed cutting $100B is like me cutting $10 out of my yearly budget.
 
2012-11-15 12:57:50 PM  
I Vote calling it a Fiscal Boehner.
bow chicka wow wow
 
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