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It's "Cliffmas" Time!

You must be wondering if I did spell check on title of this blog. If you are in America, you would understand what I mean by "Cliffmas" since not a day goes by when we don't hear about "Fiscal Cliff" in America. Fiscal Cliff is nothing but a name given to a situation which our politicians have created by agreeing to a deadline of Jan 1, 2013 when automatic tax increases for all Americans kick in and significant spending cuts also kick it - both at same time. This has potential to push America (and possibly world) in another recession in 2013. So no wonder there is so much talk about fiscal cliff in US. That's why this year it's not Christmas but rather "Cliffmas". Speaker Boehner's "Plan B" did not go thru since his own republican party did not support it. That was one of the major negotiation ploy speaker had. Now that it did not get enough support, it would be interesting on how he would deal in ongoing discussions with President Obama. This would definitely cause markets to panic tomorrow Expect DOW to go down by 200 points on Friday. Given the dire consequences of not agreeing to a deal, I am sure President and Speaker must be talking right now on how to navigate this and come to a solution next week. Something will get done before Jan 1, 2013 and everyone then can celebrate "Happy New Year"!
Now on other topic: What a tragedy at Sandy Hook Elementary where 20 kids were shot by a madman. America wake up and ban your guns at least automatic rifles. It's about time American became serious. It took another such attack on kids in Stockton in 1989 which proded congress to enact 1994 gun-control act which expired in 2004. It's time to enact even tougher gun-control law which never expires.
According to Mayan calendar, world is supposed to end on Dec 21, 2012. For some kids and their parents, world ended in this un-fortunate tragedy. Our hearts go out for these kids and their parents.

/Shyam

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