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Old 11-21-2012, 12:42 AM   #1
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Default Asian shares ease on uncertainty over Greek bailout, U.S. fiscal cliff

TOKYO - Asian shares eased on Wednesday as investors refocused on the euro zone debt crisis after European officials failed to reach a deal on a bailout for Greece, while Federal Reserve Chairman Ben Bernanke highlighted the dangers of a U.S. fiscal crisis. The euro fell 0.4 percent to $1.2759, extending losses and retreating further from Tuesday's two-week high of $1.28295. Euro zone finance ministers will meet again on Monday, after their meeting in Brussels ended on Wednesday without an agreement on the next tranche of loans to Greece. ...




Asian shares ease on uncertainty over Greek bailout, U.S. fiscal cliff
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Old 11-26-2012, 01:09 PM   #2
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Granny thinks dey usin' her 2nd stimulus check to prevent the fiscal cliff...

Five reasons America won't fall off the 'fiscal cliff'
November 25, 2012 - The political and economic ramifications are too big for Washington to let the large tax increases and spending cuts take effect. But this doesn't necessarily mean lawmakers will craft a decisive solution to the nation's fiscal woes.
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Relax, America. You can put your parachutes away. Washington isn't likely to take the country over the dreaded "fiscal cliff." Even a capital city as deadlocked and dysfunctional as Washington has been in recent years is not likely to risk a move that has so many economic and political ramifications, according to a wide range of experts. That is not to say the journey won't be contentious and perhaps a cliffhanger. Don't forget, the same cast of characters is starring in this big-screen epic either a dark comedy or a thriller, take your pick that has brought Americans to this point before: Democrats ruling the White House and Senate, and Republicans, including a clique of unyielding conservatives, in power in the House.

Yet analysts on both sides of the aisle believe that doing nothing, which on Jan. 1 would trigger the beginning of $600 billion in tax increases and large cuts to the federal budget, would inflict too much damage on individuals' wallets, on the economy, and on America's standing in the world. The fiscal cliff, after all, was never intended to be a serious option. The elements of it grew out of years of debt avoidance and budget gimmickry that finally peaked in 2011 with the impasse over raising the federal debt ceiling. After a bipartisan congressional panel failed to agree on spending cuts, Republicans and Democrats added the infamous "sequestration" portion a series of automatic spending cuts that were so distasteful that lawmakers would be forced to agree on more sensible trims.

While an agreement to avoid the cliff could still prove elusive, many veteran Washington-watchers believe a compromise will be worked out to avoid plunging into the abyss on New Year's Eve. "America's reputation and its economic stability are threatened dramatically by inaction," says Dan Glickman, a senior fellow at the Bipartisan Policy Center who previously served as President Clinton's secretary of Agriculture. "Except for a few zealots, most people aren't going to want to see that happen."

Some even believe that the looming fiscal cliff will eventually lead to a grand bargain between the White House and Capitol Hill on reforming America's tax code and entitlement programs setting the tone, perhaps, for other agreements over the next few years on issues from immigration to energy. But let's not get ahead of ourselves. Here are five reasons America won't or let's say shouldn't plunge off the fiscal cliff on Jan. 1.

Because of the "R" word.
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