Jon Stewart and the Fiscal Cliff
By Greg Hunter’s USAWatchdog.com
I don’t know about you, but I’m already sick of the so-called “Fiscal Cliff” battle in Congress. That’s the mandatory concoction of tax increases and spending cuts that kick in January 1st if Democrats and Republicans can’t reach a compromise. Comedian Jon Stewart gave his perspective recently on “The Daily Show.” I thought he dished the dirt pretty evenly between both parties. It would be much funnier if the consequences weren’t so dire. The U.S. is in serious financial trouble. I am not talking about for the “kids” and the “grand kids.” That’s 80’s and 90’s talk. What’s coming is for us in the here and now. Take time and have a laugh because there’s not much else you can do at this point. Enjoy:
John Stewart has a way of making people laugh at themselves, even when faced with catastrophes. Thanks for the video. I think that his asteroid metaphor was closer to the truth than the “fiscal cliff” one that’s in vogue today because it points to the danger of the impact rather than the trajectory. Of course the fiscal cliff metaphor allows our politicians to pretend they are there to save us from jumping off, but that’s only MSM political theater.
As I see it, we were pushed off that fiscal cliff years ago when the gold standard was abandoned by Nixon and we’ve been in free-fall ever since then. Our politicians, morally incapable of stopping the free-fall, simply use each new crisis they create to demand that we trade more of our liberties for more of their political solutions. It’s politics played on a field as old as the hills.
Having fallen years ago, our current free-fall will end when we finally impact with the hard pavement we have been hurtling toward all this time. We will know we have arrived at that point when world acknowledges that our Federal Reserve notes, and other fiat specie, are worth no more than the paper they are printed on.
Of course those who designed and reaped tremendous profit from this failed system are not as blind as those obliged to suffer under it. One wonders what new system they have waiting for us and whether our hard landing from the previous one will knock some common sense into us.
Greg: it’s a shame the MSM does not equally ridicule this farce; this dog and pony show which is pure distractive propaganda. The agenda of the elite is to destroy the middle class which has always been the true bulwark of democracy. The outcome of the fiscal cliff is already planned; no real cuts for the Military Industrial Complex, true tax reform to be kicked further down the road, some further cuts to Medicare and Medicaid which will justify death panel decisions, and some tax hikes to appease the left. Keep in mind that Obamacare has already generated 160 pages of additional IRS regulations that will adversely affect the middle class; exactly how much will depend upon the details which, naturally, will be open to interpretation. The rape and pillage of this once great country continues.
video says that it is not available from my location. Not sure why, looking forward to getting my fix of your programs. Keep up the great work.
Really, quoting the leftist comedian-wannabe Jon Stewart? Further comments withheld, shaking my head in total disgust.
None are so blind, as those who will not see.
I love that Jon is non-partisan. Both parties are absurd. The republicans put forth a plan with no tax increases. The democrats put forth a plan with no spending cuts. They both deserve scorn and mockery.
I’m actually a tad surprised to see the goldies getting taken down today along with the dollar. I’ve already begun scaling out of the VIX positions (VXX, UVXY) I outlined as buys last week…after I reloaded on the rebound from last Wed’s SPX massacre. Once again, gains in 1 week that most would be happy with over MUCH longer time frames. Now I’m gonna need soething else to play. Should I short the Euro? >>> FXE …buu the dollar? >>> UUP. What would a rising dollar do to gold here? 😮 The gunmakers RGR n SWHC are telling us there won’t be a need for guns n ammo…like there “might be” in Ireland once the play IRE falls apart here before the week is through…altho it doesn’t look that way to the “ave Joe” I’m sure. RGR gonna get absolutely decimated here soon. *-) I wonder if the goldbugs will stay skeeerd enuff to take my golden NUGeTs play down to 7.90. I’ll keep ya’s posted. May as well make some major chachingo whilst you all try and figger out >>> “what’s gonna happen”…right? I bet I’m doing beter today than that fellah who said gold would be trading higher into the end of the year, Greg. 🙂 Again, if he hadles as much $$$ as you say you “probably” want to do exactly opposite of what he says. That’s the way it works 90% of the time anyhoo *-)
Good point, Greg. GLD, the gold tracking ETF, did leave a high at 170.01 that needs to get taken out. With the dollar now showing at least a short term confirmed bottom it will be interesting to see how it plays out tho. Would one asss-ume GLD will trade to at least 162…which is major trendlow support. But as we all know…assumptions are a very dangerous thing in this kawazee market. I’ll be all over some gold shares if the bottom falls out of course. Of the possible plays listed above I went with a short in RGR via Dec 55 puts. Only 3 tho…I paid 1.10 each. Wish me “luck”….ehhh, nevermind, luck is for people who play the lottery 🙂
Hello Greg: We hear of the fiscal cliff. We are surrounded by fiscal cliffs here a some of them.
What is the fiscal Cliff?
1. The unwinding of tax provisions and the cutting of the American budget.
2. The Debt ceiling and overall indebtedness
3. Unwinding of the CDO’s and derivatives.
4. Increase in interest payments.
5. Trillions of dollars held overseas in treasuries.
6. Massive inflation
7. Future obligations such as pensions, Medicare etc. and the aging population.
8. Toxic mortgages and continuing slide in house prices.
9. Banks and solvency.
10. Unemployment and restlessness of world populations
11. Continuing decrease in the Macroeconomics in each country and the move to globalization.
12. Move towards technologies.
This is a world problem. In our age of entitlements and self-interest will anyone really get together and work on these for the benefit of mankind?
The budget fight over fiscal cliff is just a side show …cutting only pennies off the “projected budget” not the current budget from what I see..
Thi reminds me of the woman I saw in WalMart yesterday. I was walking past the cake/bakery isle and saw her standing there with her back to me and on her tee shirt it read, “I can’t hear you…… my head is up my ass!” … (yes, it actually said that) reminds me of Congress
I like the Daily Show segment because it points out the stupidity of both parties. Not that they unintelligent just ridiculously stubborn which in my opinion is the most dangerous type of ignorance. I’m sick of all the buzz word repetition about reaching across the aisle but when it comes down to it none of them can get over there own egos to actually do it. When I have financial crisis at home nothing is off the table. Could you imagine if when I was out of a job I told my wife that canceling the cable was off the table and the kids would just have to eat less. Point in fact normal people will. It things to the bone to make ends meet even missing mortgage payments As appearance from all the foreclosures that we have had in this country.
Thanks for the needed laugh, Greg!! Here in the great state of Illinois, we are not only dealing with facing the federal fiscal cliff, but also an extreme state budget crisis as well. This means I can’t listen to the national news or the local news without getting an ulcer! Thanks for keeping us informed, Greg! Knowledge is power, so thanks for giving us some power back in this crazy world!!
Would love to see this but the video window says: “Sorry this video is unavailable from your location.”
Not sure why as all the other videos you post here come up fine.
Never mind though.
Hi Greg, Thanks for your continuing great efforts with your web site. Your daily missive is always hotly anticipated here! Could you please be kind enough to post the URL link for the Jon Stewart video. For some reason it is “unavailable” to view here in Australia through your site. I’ve googled but to no avail. Many thanks Greg, Brian H. (Sydney, Australia)
Greg, a very good piece, but you know when the derivatives the banks have bet on blow up the joke will not fly so well on any TV stations!
Thanks for some change!
Great catch Greg! Usually not a John Stewart fan, however, this was one of his best. I guess I am just going to strap on my skis and enjoy my run down the fiscal slope to the garden of economic eden.
I guess the most frustrating part of all this is, nobody wants to hear about what is coming. It disturbs people too much to come to grips with it, or if I dont think about it….it wont happen, or I want to think about Christmas, Football, or what I am going to post on Facebook. I will agree with Jon Stewart, (which in itself is scary), its like an asteroid coming and it seems like only a few are looking up to see its coming, and even less are trying to do something about it. May God richly bless you Greg for what you do and may you and your family have a Merry Christmas. I feel like it may be the Christmas we look back on fondly in the future as the way it used to be…..
The Fiscal cliff is just a misdirection to keep people from talking about the need to cut spending and reform taxes.
“What’s coming is for us in the here and now”
What is coming is more money printing, more consolidation of power for the Fabian socialists, which Bernanke is a card carrying member, more consolidation of power in the northern states via money printing, more consolidation of power among the elites via money printing, more needless wars, chemtrails, and on and on—ALL THE RESULT of criminal money printing which the public is oblivious too.
Last one out turn out the lights (most of us have to pay with our labor, not the criminal printing press)
JS was spot on 😉 We are screwed. Talk does not equate to action and all we have are blow hards full of talk and other less saviory things