This fiscal clif got me all freaked out. GOP don't want to raise rate. OB wants to raise rate. It's going to go down to the wire. Sold all my stocks this morning. My guess is the market will force them go hammer out a deal. So I don't want to get caught in the down draft.
My extremely unreliable prediction is wait for the DOW to drop may be 500 - 700 points before jumping in. Maybe that's the only way to get a compromise. It seems the only way. I don't see any other ways. They won't do anything unless they have to.
Is this going to be another case of the tail wagging the dog?
That said, the Republican tone is already more concessionary and open to compromise than it was a couple weeks ago.
Seems to me the opposite. GOP wants only eliminating loopholes / deduction. OB wants to raise rate. I don't see them coming together though.
That's why the market was mostly OK this morning but getting worse now at close. Seems like both sides are digging in.