17-21 Dec Eco Calendar: Twas Cliff Before XMAS and NY, too.
The biggest elephant in the room the fiscal cliff got headlines yesterday when Repukelicans published their own Plan B. $500K may be the magic compromise number for tax relief for those with adjusted incomes below. But housing fell back this month this morning-except in the South and the MidWest so adroitly folks there are telling me the valuations really suck bigtime. So much for housing resurgence. Stupid is as stupid does.
And so it is off to the races this morning as silver continues to erode. Biden's assumption as gun czar actually may help gun co's that were on a tear until high special dividends and the awful SANDY school shootings put the nation in shock.--By defining the problem with a solution, a lot of the 2nd Amendment issues that are causing people to run to gun companies just may go away.
Markets up and silver is down. It doesn't look good for institutions to have losers on their books, but the big dump may be forestalled until next year if it is in their interests to take advantage of higher tax writeoffs, the same logic I used to say higher taxes meant business would spend to create jobs, instead of just handing the money over to Uncle Sam.
What a thought, take a risk and spend on hiring instead of paying Uncle Sam! Worked for 1946-1982 America, when single and partnership businesses rules the roost under 70% marginal income tax rates. But what do I know, I was just there during that time.
I was right about the gun stocks, as soon as Biden was announced as the gun czar, the whole area calmed down, and the 33% hit those gun manufacturers took started to abate. Most got an 8% pop today, and they'll garner back about 2/3 the distance they fell by 1 Jan. New Zealand's crime rate for home invasion and robbery soared after they banned and required the turn in of rifles, in the wake of the loss of habeus corpus last Dec under anti terrorism laws, and the President trying to usurp the Congress on the debt determination issues, now's not the time to be giving up any rights in the first ten Amendments.
We tried Prohibition in 1918 and gave up in 1931. Seems we need to get sober on gun control.
The fiscal cliff is being blamed for today's selloff, when in effect we had three poppy days in the general market. Gold and silver are being hammered, I wish they were being hammered into coins, but the prices are melting in a repeat of the beginning of 2010. I wonder where sh1thouserat is, this is the time he usually comes around and cries short.
I do know this, that SLW has once again started to behave more like AGQ than SLV. I like predictability, it helps investing, good bad or indifferent.
Looks like in the world of guns or silver, guns are winning long today.