Wednesday, January 2, 2013
Fiscal Cliff Averted, Stock Market Responds with a 200 Point Opening Gain
Doomsayers are sad today, as the incompetent US Congress passed a bill late-night fiscal-cliff deal to avert economic disaster.
U.S. stock markets, which rallied more than 1 percent on Dec. 31 in anticipation of a deal, were off to the races Wednesday morning, with futures on the broad stock indices up more than 1 percent. The Dow Jones industrial average surged 200 points.
Good news for the US economy, but bad news for the people of the US, since this real problems of the deficit and the accompanying problem of taking money out of the economy to pay the $16 Trillion national debt has been once again kicked down the road.