Was just reading this on CNN Money. It seems that the International Community is calling for America to hurry up and sort its whole 'Fiscal Cliff'
mess out. People around the world seem worried that America will cause another GFC.
Washington is winding down for the holidays without a plan to prevent New Year tax increases and spending cuts that could send the U.S. into
The world is starting to lose patients with Americas politicians. Its looking like America may cause another GFC.
World markets reacted accordingly on Friday. Stocks fell, the euro was weaker and oil prices were off as investors sought safe haven assets such
as the dollar and gold and took some profits after recent gains fueled in part by hopes of a deal between President Obama and Congress.
But the failure of House Speaker John Boehner to muster enough support among his Republican members for a "Plan B", including tax hikes for those
earning over $1 million a year, was linked by financial market players to the doomsday Mayan prophesy that the world would end on Friday.
If America causes another GFC then the world may as well have ended. The International Community is not pleased with the fact that the American
politicians are messing around instead of getting on with the job.
Japanese bank Nomura said the probability of a deal before January had fallen but it still saw a 50:50 chance, provided Obama and Boehner get back
to the negotiating table quickly. Without agreement, it predicted a "strong negative market reaction" well into January.
"The world hasn't ended but hopes for a deal to avert the U.S. fiscal cliff before the year-end certainly have," said ETX Capital strategist Ishaq
Siddiqi in London. "We could get an 11th hour deal, but it seems unlikely now with markets expecting U.S. lawmakers to address the issue in January."
"America's government chose not to govern yesterday," wrote U.S. historian Tim Stanley in a commentary published by British newspaper the Daily
Telegraph. "Aside from being very bad news for America's economy, this is a disaster for Republicans."
Germany's Die Welt newspaper said Boehner emerged the most damaged from Thursday's debacle but said it contained hidden dangers for Obama. "A
Pyrrhic victory for President Obama, a serious embarrassment for the Republican John Boehner and new uncertainty for all Americans about whether the
dive off the fiscal cliff can even be avoided: this is the dismal end result of the failure of Boehner's Plan B," the paper wrote.
The International Community can be pretty cutting really. People around the world want America to stop messing around and get their economy in order.
I really hope they do reach a last minute deal so Americans can at least have a happy xmas without worrying about what the impact from the fiscal
cliff will be for the average American in 2013. If the Fiscal Cliff is not avoided then it could be disaster for the American economy and average
I hope the American Politicians take the International Communities advice and get on with it.
edit on 21-12-2012 by spangledbanner because: (no reason given)
edit- I have to fix my spelling. Was it just patients?
Thanks for the heads up
edit- oh my god that took a while. I was looking in the OP, not the headline.
edit on 21-12-2012 by spangledbanner because: