looks like monday, from zerohadge, sunday 2pm:
The second update of the day is here, and this one is far less jovial and optimistic than that coming from the seemingly quite cluless Lindsey Graham:
•REID SAYS HAVE BEEN UNABLE TO COME UP WITH COUNTEROFFER
•REID SAYS `WE'RE APART ON SOME PRETTY BIG ISSUES'
•REID SAYS `I WISH THEM WELL' REGARDING MCCONNELL-BIDEN TALKS
•MCCONNELL SAYS HE CALLED BIDEN TO TRY TO `JUMP START' TALKS
i still cant believe those losers couldnt get something done. if they dont do it monday, the mkt is going to sell off all week as people slowly come back from vacation and try and capture 2012 gains. this could hit the mid-30's friday if nothing gets done.
" The Hill reports that a Senate aid with knowledge of the talks said late Saturday afternoon there is "no major progress." The rare weekend negotiations continue with the sticking point still taxes - which will come as no surprise to any who read/listened to Ron Paul's clear analysis of the idiocy taking place - but differences on other issues, including spending cuts, linger. Reid has scheduled a Democratic caucus meeting for Sunday afternoon to give his colleagues a chance to weigh in on a potential deal. McConnell has said he would do the same. "
let your colleagues weigh in says no deal sunday to me.
i was sure those losers would have done something at the last minute, all of DC is becoming worthless.anyone not hedging with a vix etf is just going to hate em next week.
No deal will be done...Important that they both be able to blame the other....But both do nothing so they can say they did not do it...that way the taxes go up , and they HAVE TO and each plays monkey in the middle....then lots of noise, smoke and it blows over leaving both to say its not them...pretty sad.but taxes go up and the claim its not me
I think this is exactly what needs to be done, and what they know ( inside their minds ) has to be done.
If fiscal cliff occurs, then we will have maybe six months of more pain , but our future deficit will decrease significantly and though both parties can blame each other.
But in reality we will preserve our children's futures by cutting down spending and increasing taxes on everyone.
This would be the way to take the bitter pill and get better for the long run.
And even if deal is not signed, sealed & delivered, it won't matter re: taxes, because they will immediately make new law keeping the tax breaks in place for the majority of Americans. All of this is already known and priced in.