Who would have thought it? Senate bill has NO spending reductions. "Kicking the Can" again; No backbone. ST we will get a huge bounce (obviously), beyond that, expect reality to set in. Question is how FCX responds once the laughing gas subsides. I'm LT bullish on FCX, but trade 'em in between.
Not necessarily. This legislation makes the tax rates permanent. So the only tool Obama has to increase revs to "balance" spending cuts is the elimination of deductions. So, the spending sequester gets delayed 2 months and when that "cliff" gets here, the uncertainty for markets will be significantly muted because the tax rate increase (particularly capital gains and payroll taxes) wont be in the discussion. If they cant reach an agreement, Obama will use constitutional option to raise debt limit, but spending sequester will still kick in. It is sad that this contorted process is necessary in this extremist political environment.
akara, you're writing rational arguments into a name calling thread. You can see there are a plethora of #$%$ here running for the title of village idiot. No point of wasting energy on logic. This is a mud slinging board. On good days. On bad days, the idiots take to playing with their doodoo. And you definitely will not find anything useful about FCX. The die hard losers crowd out everything else.
House and Senate are responsible for that. Should have been done months ago. Now another few days do not seem to be so bad to the idiots that are giving themselves a raise for their incompetence. House and Senate should be fired. Don't they work for us?