This is as we predicted, but just today the delusional or willfully blind floor traders at NYSE told Bob Pisani they expected the Bush Tax cuts for the top 2% to be extended.
They (market watchers) have claimed this crippling maneuver is ‘priced in’ to the markets while simultaneously every talking head on CNBC has been saying ‘no way will they let those expire! that would be crazy!” for months.
Yet here we are, as predicted. Obama and Pelosi would never, ever let those tax cuts get extended come hell or high water (or low water mark for the GDP whatever the case may be).
So tomorrow we will see if the expiration was indeed priced in or if the markets realize just who Obama is, finally, and tank in response.
And the really great news is Obama is going to GET partisan in his speech, like he hasn’t already? NYT in same piece linked above says he will talk tough on the differences b/w GOP and Dems. Oh brother. More Spike Lee Malcolm X dialogue mayhap? Ditches? Bamboozlement?
Well, I don’t hate the rich. I recognize they hire people and create jobs. I think the geniuses at the WH who designed this plan STILL do NOT GET the American people. We don’t want to fight the rich, we want them to hire us! So we can save and invest and help our kids get farther than we did. American Way, American Dream , get it?? Sheesh.
Marvin Gaye does his thing A Cappella-this is the shxt people-
Courtesy of biteclubshow- Nelsan, Sam and Kristin (and Michelle Forbes)at DragonCon ’10
Parts 2-4 of panel after the break:
An hour with, IMO, the best financial analyst on the street. Enjoy!
Courtesy of CSPAN:
Our guest on Q&A is Meredith Whitney, CEO of Meredith Whitney Advisory Group LLC. In 2007, she was the first financial analyst to predict major losses for Citigroup, one of the nation’s largest financial services companies. Program from Sunday, September 5, 2010.