(Recorded on 03/02/21) Topics covered on this video coaching call In this special video presentation, trading coach Jerry Robinson provides his general market comments, shares several charts, and answers your trading and investing questions. Included in this video:...
by Jerry Robinson | FTMDaily.com Editor-in-Chief
The angst and frustration that the American public feels towards the nation’s politicians is justified considering that a deal on the fiscal cliff has not been sealed literally hours before the end of 2012.
Ironically, America is not in danger of going over the “cliff.” It is far too late for that. America went off the “cliff” years ago. No near-term billion dollar “spending reductions” here — or “bold tax hikes on the rich” there — will bring America back from its debt-induced intoxication. Our currency is toast, our creditors are waning, and our provocative military expeditions continue to stoke anger abroad. We are spending $4 billion per week to fight a resource war in Afghanistan, we have no plan for solving our looming $120 trillion entitlement crisis, and the arrogant elites in Washington are now salivating over your hard-earned retirement savings and pensions as a new source of revenue.
Despite all of the media-inspired chaos, I expect that a resolution on the fiscal cliff will come either in the final hours today, or in the first 10 days of 2013. After all, if the Republicans can push this debate into tomorrow, then they will get to say that they voted to “lower taxes.” And oh, how their base will cheer their victory!
The ineptitude is simply staggering.
Of course, once this “tense, nail-biting, down to the wire” media dream ends, it will be time for the next mini-drama: The Debt Ceiling debate.
Will those evil Democrats dare try to raise the debt ceiling and bankrupt our nation and leave our children and grandchildren shelterless and destitute? Not if those bold “tax-cutting” Republicans can stop them!
Tune in next week to see people much smarter than you duke it out in prime-time. Oh, the suspense!
And while you are glued to the tube, please don’t mute the commercials. After all, the media’s corporate masters need your faithful support in order to keep bringing you “truth” that no one else will bring you!
Like the ancient Roman empire, the bizarre appetite of the American people has become embarrassingly grotesque.
The witty Winston Churchill once quipped: “We can always count on the Americans to do the right thing, after they have exhausted all the other possibilities.”
One look at the disarray and scrambling in Washington over the “fiscal cliff” proves that American politicians are particularly good at “exhausting all other possibilities.”
But the part about us always doing “the right thing?” That’s just pure fiction.