Saturday, December 29, 2012

BloggeRhythms 12/29/2012

Were it not for the fiscal cliff, there wouldn’t be any news at all. It seems like everything else has taken a holiday vacation which is fine with me and as I keep suggesting, ought to be done all year round. Because it seems that when no one’s there to oversee, meddle around or muck things up, everything runs smoother and we’re all better off. 
 
But in the meantime, I did get a laugh today while scanning Fox News on-line and read that the incumbent said “he’s ‘modestly optimistic’ (about a cliff deal) but that if Reid and McConnell fail, the Senate should allow an up-or-down vote on a scaled-back proposal the president is pushing.”
 
The incumbent then went on to state that "The hour for immediate action is here, it is now. We're now at the last minute, and the American people are not going to have any patience for a politically self-inflicted wound to our economy. ... We've got to get this done."
 
The part that got me was his claiming that the “American people are not going to have any patience for a politically self-inflicted wound to our economy” when all this guy’s done for four years is intentionally ruin it. Everything that should be going up economy-wise is going down, and the reverse is true for what should be improving. And every iota of is his absolute fault. Businesswise this guy’s not only a pariah, he’s as dense as a fire hydrant without a single prayer of getting smarter.
 
And while its certainly true that the securities markets are doing well lately, they no longer reflect the core economy and simply respond to programmed investing, especially because there’s little else where these traders can park their money even though businesses are not performing as well as they should be.
 
And then we can add to that the false hope of an improving job market which my bet is simply reflecting holiday hiring even though the Labor Department swears the numbers are adjusted for seasonality. However, at the same time business owners can only manage to what they know, and not what they pray for or perhaps suspect. Which means that right now the expectation is that the cliff will occur as legislated. So simple common sense says they’re not hiring anywhere near like they should be and the fault lies at the incumbent’s doorstep.
 
So, politically speaking he can promote all the hype, smoke and mirrors about the economy that he wants. But as a practical matter he’s the guy more responsible than any other for tanking it. And in that regard, should the dreaded cliff occur and the nation bear the brunt, when it all topples over I hope he’s in front and right under it.
 
That’s it for today folks.
 
Adios

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