Skip O'Neill – Liberty for All

Ron Paul for A New Direction

Hyper Grid-lock in D.C. is in store for 2013

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Hyper-gridlock in D.C. If you think the last few years have been ugly, wait until you live through 2013. Congress is in a non-election year and the President is in his final term, so both sides will be bolder than ever when it comes to drawing a line in the sand. Post-Fiscal Cliff deal the IMF and Moody’s have come out with statements, Moody’s saying, “Medium term actions may be needed to support Aaa” and the IMF says, “More remains to be done on U.S. public finances.” The odds of anything being done about our fiscal mess is probably pretty low, since the entire revenues of the U.S. pay for just our entitlements and interest on our debt. Borrowed money goes towards everything else in the Federal Government including the entire defense budget. Fixing the U.S. spending problem with the very people who advocate for more government and cherish their pet projects is probably impossible. Expect significant volatility during the debt ceiling increase and the new fiscal cliff deadline in 60 days, both these political talks will create excellent opportunities to trade as well as buy in on any big dips of companies you may be watching.

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Written by opinionoregon

January 4, 2013 at 10:46 pm

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