If the tax package is enacted by Congress

Bear

1. Mortgage rates up

2. Inflation up

3. Food and fuel costs up

4. Interest rates up

5. PMs might go either way, depending

6. The Dollar will resume its ride down

7.Dramatic take aways on all entitlement programs(Will be slated for the future)

8. Rare coins might go either way, depending.

9. As rates on T Bonds and Bills rise, the debt will accelerate as the cost to the Government
will move exponentially.

10. As well intended as this package may be, no good deed ever goes unpunished.

gecko109

Its like having $22,000 in credit card debt, and instead of cutting your cable TV service to help pay it down, you decide to open a new credit card and make payments on the 1st card from the new card.

In a time when this nation needs to buckle down and feel a little pain for the good of the long term, we are instead simply delaying the inevitable while lowering the credibility of this nation in the eyes of the foreign investor.

PinkFloyd

Unemployment insurance gets extended under this deal as well.

yellowkid

<< <i>Its like having $22,000 in credit card debt, and instead of cutting your cable TV service to help pay it down, you decide to open a new credit card and make payments on the 1st card from the new card.

In a time when this nation needs to buckle down and feel a little pain for the good of the long term, we are instead simply delaying the inevitable while lowering the credibility of this nation in the eyes of the foreign investor. >>



And the Bi-partisan budget commission couldn't get the votes to get Congress to even consider their recommendations!! Pretty sad state of affairs.

Downtown1974

<< <i>Unemployment insurance gets extended under this deal as well. >>



Pink Floyd....I dont know who you are, but I like you already. Great user name!

mhammerman

Bear, most of that stuff is already factored in...good observations to keep in mind though!

1. Mortgage rates will rise with everything else but the gov is really resisting the resetting of the interest rates for obvious reasons.
2. Yeah...but with the ss cola linked to inflation, look for that number to be jimmied until it can't be held back then it's gonna run like a scalded ape.
3. Already in play; got $4 gas yet?
4. See #1
5. Looks like they are only going one way...if priced in USD (JMHO).
6. Sure looks that way.
7. YOYO
8. Yep, that's a very hard one to call for a number of reasons but rare will always be rare.
9. Rose considerably today.
10. Man, ain't that rite!

Throw an extra 20 in the collection plate this Sunday, it will help someone in need.

OPA

Out of that list of 10...I did not see..."Savings Rate Going Up." Bonds, T Notes & Bills...banks will finally increase their savings rate since they can no longer borrow from the Fed Window at 00%. All retirees who rely on interest payments for some of their income, will welcome that change. In my book, they have taken the "hit" for much to long.

pf70collector

I am mad about the fact that Congress addressed the issue of speculation in the commodities markets like oil and wants to cap such speculation at only 15%. They are aware but are stalling on this once again. I believe oil is headed for $140 a barrel. If it does happen forget about any recovery anytime soon if that is what we are in now, which I doubt.

OPA

<< <i>I believe oil is headed for $140 a barrel.

It should happen about the same time when silver hits $40 oz. One trade off for another. The rest of the commodities will follow suit.

CaptHenway

<< <i>I am mad about the fact that Congress addressed the issue of speculation in the commodities markets like oil and wants to cap such speculation at only 15%. They are aware but are stalling on this once again. I believe oil is headed for $140 a barrel. If it does happen forget about any recovery anytime soon if that is what we are in now, which I doubt. >>



Details, please?

fishcooker

Actions speak loudly. Have they found one single dime in any project that can be cut, or moved to more productive projects?

pf70collector

CFTC Set Limit Oil Speculation

I found this out on Squawk yesterday morning also.

CaptHenway

Ah, thank you!
TD

TrustNo1

I think 3 years of unemployment is asburd. If you havent taken a job in 3 years you're full of crap . . . and dont forget this new version of bill is giving our money to the rum industry. America needs a real revolt against the left and right crooks that run things.

pitboss

They put so much garbage in that bill there is no way it will pass.(hopefully)

roadrunner

I am mad about the fact that Congress addressed the issue of speculation in the commodities markets like oil and wants to cap such speculation at only 15%. They are aware but are stalling on this once again. I believe oil is headed for $140 a barrel. If it does happen forget about any recovery anytime soon if that is what we are in now, which I doubt.

If congress decides to start price capping commodities it will only create shortages and cause the dollar to go further into the tank, thereby reducing the buying power of every American. The unintended consequences will far outweight the "good" intentions. They'd better cap all PM's, base metals, grains, lumber, land and softs as well, as the remaining money is going to seek a safe-haven somewhere. And the more outlets they cap, the bigger rise in the ones they don't. The more items that get capped, the more the store shelves will empty.

What they really need to do is create a sound fiscal environment along with a sound monetary system. That avoids all the crap above.

1+2+3+4+6+7+9 (going up) = 5 (going up too)

roadrunner

pf70collector

Just cap the oil speculation.