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Tuesday, November 13, 2012 – Roll With It

Roll With It by Sinclair Noe DOW – 58 = 12,756SPX – 5 = 1374NAS – 20 = 288310 YR YLD -.02 = 1.59%OIL -.20 = 85.37GOLD – 3.90 = 1725.90SILV +.08 = 32.60 Both sides in the “fiscal cliff” debate stood their ground today as they gathered in Washington for the first time since the elections. It’s a high stakes game of chicken. The White House made clear it was ready to negotiate with Republicans on taxes and spending, but a spokesman for President Obama said he will not budge on insisting that the wealthy’s tax rates must rise in 2013. The president wants to extend low individual income tax rates beyond year’s end for 98 percent of Americans. On the Senate floor, Republican Leader Mitch McConnell said his party was open to discussing new government revenues, but not raising tax rates. Groups concerned with protecting entitlements such as Social Security and Medicare are finding themselves at odds over whether an overarching fiscal deal during Congress’s end-of-year session would help or hurt their cause. A “grand bargain” to prevent the year-end onset of tax hikes and spending cuts “could cut Social Security, Medicare and Medicaid benefits, all to give tax cuts to the wealthiest Americans.” I seriously doubt Republicans have the clout, following the elections, to make a full-on attack against the entitlement programs. In fact, it seems the only one who could attack the social safety net programs is President Obama. He may have been convinced by Wall …

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Monday, June 18, 2012 – G-20 Declares Ceviche Tasty and Democracy Messy – by Sinclair Noe

DOW – 25 = 12,741SPX +1 = 1344NAS + 22 = 289510 YR YLD un=1.58%OIL -.26 = 83.01GOLD + 2.00 = 1629.70SILV un= 28.84PLAT – 1.00 = 1489.00The results of the Greek election shows conservative New Democracy taking 29 percent, with the radical leftist Syriza bloc just behind on 27. The Pasok Socialists were set to take 12 percent of the vote. The scenario is similar to the results of an earlier round of voting. ND also came in first in May 6 elections, again with Syriza running a close second, but failed to form a government then. And 38% of eligible voters did not vote yesterday; that’s more votes than any one party received. The headlines say that a pro-bailout, pro-remain in the Euro-union party won the Greek elections; it’s not that simple. There was no majority. The next step is for New Democracy leader Antonis Samaras to form a coalition government; not an easy or certain task, and it must be done within the next 10 days. Look for a combo of the New Democracy conservatives and  the Pasok socialists; the same group that governed Greece into this mess in the first place. Pasok, the Socialist party, called for a government that would include Syriza, the far left party, but  Syriza ruled out joining a coalition that would stick to the punishing bailout terms that have helped condemn Greece to five years of record recession. Alexix Tsipras, the leader of Syriza, had vowed to tear up the terms, betting that …

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