3-8 Dec Economic Calenduhh: Autos Mortgages and Claims Meets Fiscal Cliff
How far into Chicken Little markets react to a steady or increasing unemployment claim scenario is how you look at the impact not only on the single issue of lingering near 8% unemployment.
How that affects Congress in its haste to beat feat before solving fiscal cliff issues, both parties seem willing to push past Jan 1, and have now tied debt ceiling drama in. This is akin to using a fire house dispensing gasoline on an already out of control conflagration.
Unemployment too much? Urgency to solve fiscal cliff abounds, failure invites more general market catastrophe and year end selling as the beat the tax increase flurry continues through mid week last week of December for most funds--28 Dec as the holders of record must be cleared by 31 Dec, topped off by the dawdling retail markets....
All this rush into the Dow stocks tells you something, and NASDAQ reluctantly catches up half way only at the end of the trail. Notice the unraveling in opposite when that occurs for adroit end of year posturing. Can Boner fire enough radical Republicans from committee seats to make a difference in his collecting enough power to negotiate the peace, I mean the fiscal cliff issues?
SANDY impact, the flow of $200B into the Eastern corridor to rebuild, awaits recognition. It must be FEMA money, all the insurance guys we note are eager not to pay anyone with no flood insurance, no matter what the cause of the damage.
So where is all this relief from flood issues with the insertion of all that printed money? It's in the form of loans not printed cash.
See how that works? See you when the data flows PM. GLWT.
Looks like they cooked the books to reveal more job creation in the mid 150'000's and 7.7% unemployment. Lots of wows as the SANDY phenom blew over (cough cough).
Looks like the pressure's off on the fiscal cliff, doesn't it? Looks like somebody is supporting the market bubble, and succeeding this morning, although the silver hounds at kitco haven't reacted instantly.
Hmmmmmmmmmmmmmm....can you say Goldilocks is pleased with numbers "better" but not the 300K we need to sustain a recovery in three, not 23 years?
Somebody will holler fiscal cliff and the market will look for chairs. Looks like for now, the music is still playing.