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Non-Farm Payrolls on Friday.
The fiscal cliff was a phony crisis.
Nothing has changed.
Be careful about overextending your positions though especially on the short side. This market is thoroughly artificial. It really is a shame, but not the only one.
For comparison, $64 billion was allocated for Katrina in 10 days.
Shame.
House Leaders Draw Ire for Dropping Sandy Relief Package
House Republicans have reversed their pledge to take up an emergency aid bill this week for states devastated by Superstorm Sandy. The move potentially leaves the $60 billion aid package to die at the end of the legislative session Thursday.
The House was expected to consider the bill today but dropped it following lengthy talks on the "fiscal cliff." The decision drew harsh condemnation from both sides of the aisle.
Republican Rep. Michael Grimm of Staten Island — one of the areas hardest hit by Superstorm Sandy — said, "It is with an extremely heavy heart that I stand here almost in disbelief and somewhat ashamed." Democratic Rep. Jerrold Nadler of New York blasted his colleagues for failing to take urgent action.
"Hurricane Sandy struck on October 29th, eight, nine weeks ago. It’s unprecedented that it should take so long. I can understand — I would not sympathize, but I can understand — with members who might say the amount requested is too much, we should change it, we should quibble with it, we should debate it.
Fine. But to ignore it, to ignore the plight of millions of American citizens? Unprecedented, disgusting, unworthy of the leadership of this House. They should reconsider, or they should hang their heads in shame, Mr. Speaker."
The end of year precious metals smackdown seems to have eased on schedule.
How unusual.
Premiums are still very guarded. Although stocks may not see it yet, the money sector including the metals knows that the budget discussions are still in the path ahead.