Today I’ll conclude this two-part commentary by addressing a handful of critical developments that are likely to overshadow financial markets in the final weeks of 2012.  Last week I discussed the next debt ceiling vote, which will probably take place in late November of 2012 (the exact date is a moving target and won’t be known until later in the year).  This week, I’d like to discuss a more complex set of problems that we face, known as the “fiscal cliff” or “taxmageddon.” Read More →

This is the first part of a two-part commentary to address a handful of critical developments that are likely to overshadow financial markets in the final weeks of 2012.  This week I’ll address the upcoming debt ceiling vote (yes it’s true, we are just months away from reaching the debt ceiling once again).  Next week I’ll address the “fiscal cliff” that occurs at year end: expiration of the Bush-era tax cuts, expiration of the 2% payroll tax cut, expiration of extended unemployment benefits, and automatic commencement of the “sequester” spending cuts.  All of these items will need to be resolved before year end, otherwise current law provides for them to occur automatically.  You will soon begin hearing about these issues on a daily basis as we get closer to the elections in November. Read More →