The U.S. ‘Fiscal Cliff’ drama is a distraction from real problems

Financial analyst Max Keiser is calling the U.S. ‘fiscal cliff’’ a distraction from the real problems in Wall Street (Herbert, 2012) such as the economic downturn caused by the housing bubble (Baker, 2013).

A deal has been struck to avert the ‘fiscal cliff’, but this comes at a massive cost to the economic future (Speigal Online International, 2013), “This deficit will potentially kill the dollar and ruin the economy…” (Poulos, 2012) and enslave the tax payers with more debt because the “US Public debt stands at more than 100% of GDP” (PlanetPonzi.com, 2013).

 

References

Baker, D. 2013. Look beyond the fiscal cliff. CNN. Accessed on 1st January 2013 from http://edition.cnn.com/2013/01/02/opinion/baker-fiscal-cliff

Herbert, S, 2013, January 1st, Max Keiser: ‘Fiscal cliff’ theater distracting from real problems, Accessed on 1st January 2013 from http://maxkeiser.com/2013/01/01/max-keiser-fiscal-cliff-theater-distracting-from-real-problems/

PlanetPonzi.com, 2012, December, 30th, A Song for the Holidays: On The First Day of Christmas, What Greedy Bankers and Politicians Gave To Me, Accessed on 1st January 2013 from http://maxkeiser.com/2012/12/30/a-song-for-the-holidays-on-the-first-day-of-christmas-what-greedy-bankers-and-politicians-gave-to-me/#more-58921

Poulos, B. 2012. Now, How To React To The Fiscal Cliff. ProfitsRun.com. Accessed on 1st January 2013 from http://www.profitsrun.com/news/now-how-to-react-to-the-fiscal-cliff/

SpeigalOnline, 2013, January 2nd, , Today’s American Politics a ‘Tiresome Farce’, Accessed on 1st January 2013 from http://www.spiegel.de/international/world/german-press-slams-fiscal-cliff-negotiations-in-washington-a-875405.html#spRedirectedFrom=www