The Fiscal Cliff


Stock exchange pundits are talking about the fiscal cliff, the day America’s $16+ trillion in national debt becomes unmanageable. People are scared of Obama as he’s adding $30 billion a week to the debt. Ben Bernanke is creating trillions in funny dollars, but they go to his mates on Wall Street, they don’t help America one jot, in fact they harm Americans by debasing their currency.

The cliff is not actually there, it’s just a perception in investors’ minds, when will an American default come? Certainly China has been dumping Treasury bills hot and heavy for a year now. Stocks have fallen 600 points as people got nervy over the Obama-scare.

My guess is the collapse is 2013, but going long on stocks right now is highly dangerous.

The market has been fed for a long time by Ben Bernanke’s secret and his declared injections of trillions, some $22 trillion so it is reputed, experts say the real value of the Dow without ‘Bent Ben’ and his manipulation is 7000-8000. Strange world.

“Too many crooks, spoil the trough”, so they say on Wall Street. Stuart Wilde

P.S. Harry Reid, the Senate majority leader said today they will rise the US debt to $18.794 trillion. Click for article:

Harry Reid on Hiking Debt Limit to $18.794T: ‘We’ll Raise It’ / CNSNews.com 

© 2012 — Stuart Wilde.
www.stuartwilde.com — All rights reserved.

 

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