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The metals had a nice run higher, but gold was capped below 1700 and silver at 31.
Aside from the phony fiscal cliff, nothing has changed.
I am sure Chris Christie speaks for quite a few Americans as he slammed the Republican leadership of the House for their irresponsible inaction and duplicity.
I wondered if Governor Christie, and the people of his state and of New York, were being spanked for his walking the devastated cities and beaches with Obama in the aftermath of Hurricane Sandy. No one likes to be Katrina'd. If so, Speaker Boehner and Leader Cantor are even lower than I had imagined. I prefer to think that they are not malicious, just arrogant and detached from the common people whom they serve.
"It is why the American people hate the Congress."
I don't think anyone should 'hate' anyone else. Perhaps it would be better to say that this is why the Congress has historically low approval ratings of around ten percent. And they don't seem to care while they are getting paid by serving wealthy benefactors.
Does the government of Greece care what the people think? Egypt? Ireland? Spain? Join the club.
Some of the Congress should be encouraged to find productive employment elsewhere. And the method by which they are paid and funded needs serious reform.
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.
