Predicting markets tanking tomorrow, and until agreement reached.

[elleng]

Thoughts? Downturn > recession begins tomorrow???

[bluestateguy]

1. Right now I am focused upon what is happening in Newtown

If you feed the trolls by paying attention to this "fiscal cliff" you give it a legitimacy it doesn't deserve.

[elleng]

4. I'm with you in Newtown,

but the 'cliff' is real, not troll-related, due to increase in tax rates beginning January 1. IF there's a decent interval after which an agreement is reached, and decent tax rates return, things OK, but for the long-term, things can really be bad.

AND there's Debt Limit, coming up >.

[flamingdem]

2. I just checked, the futures are down

found this from DU!:

dow futures just plunged 250 points. omg the mayans were right!
www.democraticunderground.com/10022042977
6 posts - 5 authors - 34 minutes ago
Per CNBC. Panic mode over there. Republican plan to tank the economy in place. Luckily, Pres.Obama now has MUCH more leverage. (Even though I feel he ...

[Livluvgrow]

3. trolls?

I and I am sure many others on here with retirement accounts linked to the market care a whole lot about the market.

[elleng]

5. Damn right.

No trolls here.

[Livluvgrow]

6. I am thinking your right on the money literally

News moves the markets and there doesn't appear to be much good news out of Washington these days. We all know the reasons and the asses responsible, but bad news is still bad news.

[Warpy]

7. There is going to be a downturn next week

as investors dump stocks to take advantage of the last few days of lower capital gains taxes.

That's my prediction.

[elleng]

8. Yes, that too, Warpy;

had forgotten, and was just thinking of effect of higher tax rates Jan. 1, Debt Limit, and sequestration.

[bemildred]

9. I don't expect a recession.

The markets will be unhappy, yes. A buying opportunity in January, yes.

Edit: you can argue that we never left a recession, jobs-wise. I think the markets will do well next year, possibly even crazy well.

[elleng]

10. Will do 'crazy well' after/if agreement

and we all get back into economy's moving up as it has been. Sure hoping for that, but not at all encouraged w behavior of this Congress.

[bemildred]

11. It's gambling for sure.

Last edited Fri Dec 21, 2012, 04:41 PM - Edit history (1)

In the present circumstances, I prefer to sit tight rather than engage in loss-taking. There are a lot of reasons for "negative volatility", the time of year, the uncertainty about taxes, the fecklessness of our Congress, but trends have been good and consistent, the wars are being wound down, long-term if we go over the cliff and adjustments are made necesssary, that's a good thing, it's long overdue; so, no need to assume Armageddon is coming just yet.