Investors, Fund Managers Fear Obama Victory

Discussion in 'Politics' started by beretta304, Oct 1, 2012.

  1. beretta304
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    beretta304 BANNED

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    The Congressional Budget Office recently laid out the grim consequences of dropping off the fiscal cliff. Starting Jan. 1, tax cuts signed by President George W. Bush expire as do Obama's cuts to payroll taxes. Federal spending on defense and other domestic programs will drop, while emergency unemployment benefits run out.

    The combined effect off all these changes would shrink the economy nearly 3 percent at an annual rate in the first half of next year, the CBO estimates, and push unemployment up to 9.1 percent by the fall. Recent surveys of businesses suggest the threat is already weighing on the minds of executives when they're making hiring and spending plans.

    For the world's biggest money managers, the fiscal cliff now ranks as the greatest hazard to the global economy, according to Bank of America's most recent fund manager survey. It topped the European debt crisis, a collapse in Chinese real estate and even a war between Israel and Iran.






    Investors Eye the 'cliff' as Obama gains in Polls
     
  2. VaYank5150
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    VaYank5150 Gold Member

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    Why would they fear an Obama victory? These cuts were proposed and passed by the Congress in a bipartisan manner?
     
  3. Full-Auto
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    Full-Auto Gold Member

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    Democrats have made it very clear.......Raising taxes on the Rich only will bring in 70 billion a year.....More then whats necessary to pay the bills of trillion dollar deficits.....:lol:
     
  4. LadyGunSlinger
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    LadyGunSlinger Conservative Babe Supporting Member

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  5. CrusaderFrank
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    CrusaderFrank Diamond Member

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    Because they're smarter than you
     
  6. LadyGunSlinger
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    LadyGunSlinger Conservative Babe Supporting Member

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    LOL Ouch! Biatch slap complete.
     
  7. Mac1958
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    Mac1958 Platinum Member

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    .

    Got some news today from a very trustworthy source.

    Don't be surprised to see the monthly QE3 bill increase to about $80 billion within a few months.

    Don't be surprised to see the total bill end up north of $2 trillion.

    Chew on that one for a while.

    .
     
  8. waltky
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    waltky Wise ol' monkey Supporting Member

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    Not as many people buyin' apples from Granny onna street corner...
    :eusa_shifty:
    ‘Fiscal cliff’ fight already a drag on U.S. economy
    Tuesday, October 9, 2012 - Worries about the federal government’s “fiscal cliff” are taking their toll on the economy well ahead of the year-end deadline, which analysts say is looking like it may be more damaging in the run-up than in the reality.
     
  9. Oldguy
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    Oldguy Senior Member

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    If Wall Street insiders fear an Obama victory, that's the strongest incentive to vote for him that i've heard yet.
     
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  10. waltky
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    waltky Wise ol' monkey Supporting Member

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    Granny says dem politicians done already been greasin' the slippery slope...
    :eek:
    ‘Fiscal cliff’ already hampering U.S. economy, report says
    October 25,`12 - The “fiscal cliff” is still two months off, but the scheduled blast of tax hikes and spending cuts is already reverberating through the U.S. economy, hampering growth and, according to a new study, wiping out nearly 1 million jobs this year alone.
     

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