Saturday, June 29, 2013

The Tense “Fiscal Cliff” Negotiations last December-end: “Congress Could Teach Shakespeare Something About…"

Remember all that nationwide anxiety, consternation, and indignation during the last few days of 2012, when Congressional leaders and the White House were locked in protracted talks to avoid the much-feared Dec. 31 “fiscal cliff,” and an agreement was reached only in the wee hours of January 1?

Well, while watching something on PBS earlier today, I learned that because that Dec. 31 deal was only partial, a couple more financial deadlines are just around the corner. So, you can bet that given the internecine feuding within the Republican Party, there will be a repeat of last year’s posturing and attendant cliffhangers, once again enervating and taxing the patience of all the stakeholders--American business, the nation as a whole, and the international financial community at large.

Thinking about all the drama that is about to unfold for news junkies like me, I was reminded of a humorous comment made by S&P Capital IQ’s Chief Equity Strategist Sam Stovall during the Dec. 31, 2012, edition of PBS’s “NBR.” Voicing the public’s acute frustration at there not having been a decision as late as 5 p.m. that day, Stovall remarked: “It certainly confirms what I’ve always thought—that Congress could teach Shakespeare something about drama.”

© Copyright 2013  V. J. Singal

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