Impossible is the best word to describe the predictability of an eventual outcome. It is now not a secret that the current congress is not able to work around partisan differences and arrive at an acceptable compromise. Neither party is able to deflect all of the blame onto the other party, as both are not just firm, but immovable concerning negotiable issues. Certainly, neither is the President budging much from his ideal platform which includes raising taxes only on the super-rich and no firm plans for entitlement cuts. So, here we are…in late December…with no deal in plain sight. This week, the domestic stock market is sending a quiet message by giving back much of the gains from the previous 358 days of 2012. Money managers are limping towards 2013 with nothing more than hope of a final compromise before January 1, 2013, when fireworks are sure to start if no deal is reached. Let’s see if the parties are able to swallow hard and sneak across their respective “lines in the sand” to deliver a sign of competence to fellow Americans and accompanying world citizenry.
This Side of the Street 