The Government is one of the biggest economical engines in the U.S. make it smaller and you have less money flowing. Is there waste in Government? yes, But just as much waste in private industry. You pay higher taxes because of government waste, you pay higher prices for private industry waste.
It evens out.
The reason the newest buzzword is "Fiscal Cliff" is that all of a sudden the media needs news. For the past year they have been able to fill their news with poll numbers and what candidates are doing and now . . . . ummm . . . . geez,we need to find news!! They should do what the Columbus Journal does - just have photos of people giving other people checks and articles about Brownies selling Cookies!! As DJ says "What's next, Cakes selling Pies?" And Poultry Bingo which seems much better the the Chicken Shoot.
But I digress.
So - what the hell happened in the stock market yesterday! In the long run? nothing. It's the fear of the unknown and has nothing to do with fundamentals and is not a bell weather of things to come. Happened in 2008 also and is a normal thing after an election.
What I found interesting was just what sectors fell.
The biggest losers were coal stocks. Coal was counting on a Romney win as he had promised loosen regulations on safety and pollution rules which in turn would add profits to coal mines. The next biggest lowers were banks. Same thing, Romney had promised that banks and financial companies would have looser and less costly regulations then under Obama who supported closer monitering of bank business practices. Energy stocks (oil and gas) took a beating with Obama's promise for more alternate energy.
Defense stocks took a hit because of the cutback in spending (smaller government).
Health Care stocks were the least losers especially hospitals stocks that had a very good day. The healthcare industry (and the poor) like Obamacare.
This was purely a political emotional sell off, nothing more. Companies are still making record profits (while not hiring people).
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Columbus had 0.12 inches of rain/slush the other day - here is the current graph comparing the last 4 years.
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In Columbus news - The City Council voted to go against the 53% of citizens who want Halloween at Night and went with the "but we have always done it this way" vote of being afraid of the night and have Halloween on Sunday afternoon. But more importantly the City Council renamed Fireman's Park Drive to Veterans Parkway. Screw the Firemen.
A "personal banker" at Associated Bank ini Columbus is facing a second set of forgery charges for taking money from one account and putting it into her account. A true "personal banker". The banker lives in Beaver Dam. We would not want to hire anybody from Columbus would we.
And of course there is the over anal Winter Parking Regulations. No parking on the street between Midnight and 6:00.
Of course the citizens of Columbus wish it was alternate side parking but I guess we are too dumb to figure out what day it is. OH, the argument was that the citizens were notified and if they wanted to voice their opinion we could have. It was posted on the door of City Hall. Geez - I guess I did not look that day. We ARE allowed to park vehicles on our lawns in front of our house though. Obviously the Chief of Police does not live in Columbus (would not want to hire anyone from Columbus would we).
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Did you know that in order to be a cabbie in London you need to pass a test after a FOUR YEAR COURSE.
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