Mike Shedlock

The amount of worry over something that needs to happen is staggering.

I actually hope the fiscal cliff triggers. Better now than what is 100% certain to hit in a more severe way later.

Ideally, I would prefer no tax hikes and massive budget cuts. Senator Rand Paul's plan to balance the budget would have me jumping for joy.

The next best thing would be a small tax hike in return for deep cuts in spending. However, Republicans foolishly killed that idea last summer, even rejecting plans that would cut spending over tax hikes in a ratio of 10-1.

Republicans refused that deal based on the foolish belief that Obama could not possibly win the election.

Well, Obama did win. And now, nearly everyone is screaming in shrill voices about a "fiscal cliff" that really could have and should have happened long ago.

Shrill Voices and Economic Nonsense

Heading up the list of shrill voices is none other than Ambrose Evans-Pritchard who writes World cannot afford second Fiscal Cliff after Europe’s failed attempt.


Mike Shedlock

Mike Shedlock is a registered investment advisor representative for Sitka Pacific Capital Management.
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