The Looming Fiscal Cliff
And once the selling starts, how many other investors will jump on the bandwagon and take cash to the sidelines? And finally, what will such an avalanche of "tax-profit" selling do to the markets, not only in numbers, but in further weakening economic confidence overall?
The point of all this, and a sad point, is that all of this worry and wonder is entirely self-inflicted -- multiple compromise plans on the budget have already been advanced and shunted aside by both parties. As an investor, I'd like to see Washington just pick a plan and pass it.
But in an election year, that's becoming more and more unlikely -- and the edge of the fiscal cliff just gets closer and closer.
This article is commentary by an independent contributor, separate from TheStreet's regular news coverage.
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