{"id":6067,"date":"2012-11-07T18:42:58","date_gmt":"2012-11-07T23:42:58","guid":{"rendered":"http:\/\/goldstocksforex.com\/?p=6067"},"modified":"2012-11-07T18:42:58","modified_gmt":"2012-11-07T23:42:58","slug":"markets-worry-about-fiscal-cliff","status":"publish","type":"post","link":"https:\/\/thepatientinvestor.com\/index.php\/2012\/11\/07\/markets-worry-about-fiscal-cliff\/","title":{"rendered":"Markets Worry About Fiscal Cliff"},"content":{"rendered":"<p><a title=\"WSJ Economics\" href=\"http:\/\/blogs.wsj.com\/economics\/2012\/11\/07\/economists-worry-about-fiscal-cliff-resolution\/?mod=djemRTE_t&amp;_nocache=1352329029671&amp;user=welcome&amp;mg=id-wsj\" target=\"_blank\">Michael S. Derby<\/a> writes about the looming fiscal cliff:<\/p>\n<blockquote><p>The central problem is the lack of change. President Barack Obama was reelected. Democrats retained control of the Senate, while Republicans held on to the House of Representatives. The fiscal cliff can only be resolved if lawmakers work together. \u201cReturning to status quo likely means all sides see the voters as supporting their views, which means reaching compromise is not likely to get any easier,\u201d economists at Bank of America Merrill Lynch warned clients.<\/p><\/blockquote>\n<p><a href='http:\/\/www.washingtonpost.com\/national\/miami-still-counting-ballots\/2012\/11\/07\/e99761f8-e4a0-457f-9c7d-18ea97afdafb_video.html'>Speaker of the House John Boehner<\/a> (R-Ohio) says &#8220;the Republican majority in the House stands ready to work with [the President] to do what&#8217;s best for our country.&#8221; Republicans appear willing to accept additional tax revenues but their emphasis is on reforming entitlement programs and curbing &#8220;special interest loopholes and deductions&#8221;.<\/p>\n<p>The <a title=\"CBO Budget Summary\" href=\"http:\/\/cbo.gov\/sites\/default\/files\/cbofiles\/attachments\/43539-08-22-2012-Update_One-Col.pdf\" target=\"_blank\">Congressional Budget Office<\/a> summarizes the fiscal cliff as:<\/p>\n<blockquote><p>Among the policy changes that are due to occur in January under current law, the following will have the largest impact on the budget and the economy:<\/p>\n<ul>\n<li>A host of significant provisions of the Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010 (Public Law 111-312) are set to expire, including provisions that extended reductions in tax rates and expansions of tax credits and deductions originally enacted in 2001, 2003, or 2009. (Provisions designed to limit the reach of the alternative minimum tax, or AMT, expired on December 31, 2011.)<\/li>\n<li>Sharp reductions in Medicare\u2019s payment rates for physicians\u2019 services are scheduled to take effect.<\/li>\n<li>Automatic enforcement procedures established by the Budget Control Act of 2011 to restrain discretionary and mandatory spending are set to go into effect.<\/li>\n<li>Extensions of emergency unemployment benefits and a reduction of 2 percentage points in the payroll tax for Social Security are scheduled to expire.<\/li>\n<\/ul>\n<\/blockquote>\n<p>The CBO estimates that increases in federal taxes and reductions in federal spending, totaling almost<br \/>\n$500 billion, will cause a 0.5 percent drop in GDP in 2013.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Michael S. Derby writes about the looming fiscal cliff: The central problem is the lack of change. President Barack Obama was reelected. Democrats retained control of the Senate, while Republicans held on to the House of Representatives. The fiscal cliff can only be resolved if lawmakers work together. \u201cReturning to status quo likely means all &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/thepatientinvestor.com\/index.php\/2012\/11\/07\/markets-worry-about-fiscal-cliff\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Markets Worry About Fiscal Cliff&#8221;<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[5,34],"tags":[59,3344],"class_list":["post-6067","post","type-post","status-publish","format-standard","hentry","category-economy","category-us-canada-countries-regions","tag-fiscal-cliff","tag-tax-reform"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Markets Worry About Fiscal Cliff - the patient investor<\/title>\n<meta name=\"robots\" content=\"noindex, follow\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Markets Worry About Fiscal Cliff - the patient investor\" \/>\n<meta property=\"og:description\" content=\"Michael S. Derby writes about the looming fiscal cliff: The central problem is the lack of change. President Barack Obama was reelected. Democrats retained control of the Senate, while Republicans held on to the House of Representatives. The fiscal cliff can only be resolved if lawmakers work together. \u201cReturning to status quo likely means all &hellip; Continue reading &quot;Markets Worry About Fiscal Cliff&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/thepatientinvestor.com\/index.php\/2012\/11\/07\/markets-worry-about-fiscal-cliff\/\" \/>\n<meta property=\"og:site_name\" content=\"the patient investor\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/profile.php?id=61572934660810\" \/>\n<meta property=\"article:author\" content=\"https:\/\/facebook.com\/people\/The-Patient-Investor\/61572934660810\/\" \/>\n<meta property=\"article:published_time\" content=\"2012-11-07T23:42:58+00:00\" \/>\n<meta name=\"author\" content=\"Colin Twiggs\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Colin Twiggs\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2012\/11\/07\/markets-worry-about-fiscal-cliff\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2012\/11\/07\/markets-worry-about-fiscal-cliff\/\"},\"author\":{\"name\":\"Colin Twiggs\",\"@id\":\"https:\/\/thepatientinvestor.com\/#\/schema\/person\/d42b18d516a80149d739845749ac6454\"},\"headline\":\"Markets Worry About Fiscal Cliff\",\"datePublished\":\"2012-11-07T23:42:58+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2012\/11\/07\/markets-worry-about-fiscal-cliff\/\"},\"wordCount\":317,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/thepatientinvestor.com\/#organization\"},\"keywords\":[\"\\\"Fiscal Cliff\\\"\",\"tax reform\"],\"articleSection\":[\"Economy\",\"US &amp; Canada\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/thepatientinvestor.com\/index.php\/2012\/11\/07\/markets-worry-about-fiscal-cliff\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2012\/11\/07\/markets-worry-about-fiscal-cliff\/\",\"url\":\"https:\/\/thepatientinvestor.com\/index.php\/2012\/11\/07\/markets-worry-about-fiscal-cliff\/\",\"name\":\"Markets Worry About Fiscal Cliff - the patient investor\",\"isPartOf\":{\"@id\":\"https:\/\/thepatientinvestor.com\/#website\"},\"datePublished\":\"2012-11-07T23:42:58+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2012\/11\/07\/markets-worry-about-fiscal-cliff\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/thepatientinvestor.com\/index.php\/2012\/11\/07\/markets-worry-about-fiscal-cliff\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2012\/11\/07\/markets-worry-about-fiscal-cliff\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/thepatientinvestor.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Markets Worry About Fiscal Cliff\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/thepatientinvestor.com\/#website\",\"url\":\"https:\/\/thepatientinvestor.com\/\",\"name\":\"The Patient Investor\",\"description\":\"Smart. 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He co-founded Incredible Charts and writes the popular Trading Diary and Patient Investor newsletters. Using a top-down approach, Colin identifies key macro trends in the global economy before evaluating selected opportunities using a combination of fundamental and technical analysis. Focusing on interest rates and financial market liquidity as primary drivers of the economic cycle, he warned of the 2008\/2009 and 2020 bear markets well ahead of actual events. 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He founded PVT Capital (AFSL No. 546090) in May 2023, which offers investment strategy and advice to wholesale clients.","sameAs":["https:\/\/facebook.com\/people\/The-Patient-Investor\/61572934660810\/","https:\/\/www.instagram.com\/colin_thepatientinvestor","https:\/\/au.linkedin.com\/in\/colintwiggs"],"url":"https:\/\/thepatientinvestor.com\/index.php\/author\/investor\/"}]}},"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p9tQ4n-1zR","jetpack_likes_enabled":false,"jetpack-related-posts":[{"id":6446,"url":"https:\/\/thepatientinvestor.com\/index.php\/2012\/12\/11\/republicans-send-fiscal-cliff-counteroffer-to-obama-business-insider\/","url_meta":{"origin":6067,"position":0},"title":"Republicans Send Fiscal Cliff Counteroffer To Obama &#8211; Business Insider","author":"Colin Twiggs","date":"December 11, 2012","format":false,"excerpt":"Brett LoGiurato reports that House Speaker John Boehner made a counter-offer in fiscal cliff negotiations. His spokesman Michael Steel issued a brief statement: \"We sent the White House a counter-offer that would achieve tax and entitlement reform to solve our looming debt crisis and create more American jobs. As the\u2026","rel":"","context":"In &quot;Economy&quot;","block_context":{"text":"Economy","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/economy\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":6324,"url":"https:\/\/thepatientinvestor.com\/index.php\/2012\/12\/03\/doomsday-for-the-fiscal-cliff-abc-news\/","url_meta":{"origin":6067,"position":1},"title":"\u2018Doomsday\u2019 For The Fiscal Cliff? &#124; ABC News","author":"Colin Twiggs","date":"December 3, 2012","format":false,"excerpt":"Republicans are considering a \u201cDoomsday Plan\u201d if fiscal cliff talks fail. The ABC's Jon Karl reports: It\u2019s quite simple: House Republicans would allow a vote on extending the Bush middle class tax cuts (the bill passed in August by the Senate) and offer the president nothing more \u2013 no extension\u2026","rel":"","context":"In &quot;Economy&quot;","block_context":{"text":"Economy","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/economy\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":6526,"url":"https:\/\/thepatientinvestor.com\/index.php\/2013\/01\/02\/congress-passes-fiscal-cliff-deal-wsj-com\/","url_meta":{"origin":6067,"position":2},"title":"Congress Passes Fiscal Cliff Deal &#8211; WSJ.com","author":"Colin Twiggs","date":"January 2, 2013","format":false,"excerpt":"WSJ writes that Congress passed a compromise bill to avert the fiscal cliff: The bill ...... was passed over opposition from conservative Republicans in the House who objected to the fact that it contained no long-term spending cuts of any significance. Both the U.S. Senate and House of Representatives approved\u2026","rel":"","context":"In &quot;Economy&quot;","block_context":{"text":"Economy","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/economy\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":6525,"url":"https:\/\/thepatientinvestor.com\/index.php\/2013\/01\/01\/disappointing-fiscal-cliff-compromise\/","url_meta":{"origin":6067,"position":3},"title":"Disappointing fiscal cliff compromise","author":"Colin Twiggs","date":"January 1, 2013","format":false,"excerpt":"Vice President Joe Biden and Senate Minority Leader Mitch McConnell (R, Ky) brokered a deal that is likely to be approved by the Senate early Tuesday before being put to a vote in the House later in the day. The WSJ writes: By waiting until the last minute, and reaching\u2026","rel":"","context":"In &quot;Economy&quot;","block_context":{"text":"Economy","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/economy\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":6530,"url":"https:\/\/thepatientinvestor.com\/index.php\/2013\/01\/02\/why-the-fiscal-cliff-deal-offers-little-to-celebrate-quartz\/","url_meta":{"origin":6067,"position":4},"title":"Why the fiscal cliff deal offers little to celebrate &#124; Quartz","author":"Colin Twiggs","date":"January 2, 2013","format":false,"excerpt":"Gwynn Guilford writes: Most immediately worrisome is that [lawmakers] ......let a cut in the payroll tax (which pays for social security) expire. Though doing so will close the 2013 budget deficit by some $126 billion, it means that 160 million Americans -- including two-thirds of the lowest quintile of earners\u2026","rel":"","context":"In &quot;Economy&quot;","block_context":{"text":"Economy","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/economy\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":5988,"url":"https:\/\/thepatientinvestor.com\/index.php\/2012\/11\/01\/fiscal-cliff-two-candidates-two-approaches\/","url_meta":{"origin":6067,"position":5},"title":"Fiscal Cliff: Two Candidates, Two Approaches","author":"Colin Twiggs","date":"November 1, 2012","format":false,"excerpt":"By ERIC PIANIN and MERRILL GOOZNER, The Fiscal Times [Romney and Obama] agree that a stopgap measure is needed before January 1 to temporarily extend the raft of Bush era tax cuts and other measures set to expire. However, Obama has signaled his intent to veto even a few months\u2019\u2026","rel":"","context":"In &quot;Economy&quot;","block_context":{"text":"Economy","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/economy\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/6067","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/comments?post=6067"}],"version-history":[{"count":0,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/6067\/revisions"}],"wp:attachment":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/media?parent=6067"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/categories?post=6067"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/tags?post=6067"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}