http://investmentwatchblog.com/what-a-year-2012-has-been-75-economic-numbers-from-2012-that-are-almost-too-crazy-to-believe/#l6ohGBFUjHKBOIKy.99
Tense negotiations between the moderate and conservative factions in the House Republican caucus failed to gather enough votes to ensure passage.
The U.S. Department of Commerce’s Bureau of Economic Analysis (BEA) released the Gross Domestic Product (GDP) readings for the third quarter of 2012 and, according to the results, the U.S. economy grew by a modest 3.1 percent during that period.
Most notably, however, is the concession from U.S. officials that the primary reason that HSBC was not fully prosecuted was that because it is a systemically important institution. In simpler terms, it’s too big to fail.
The decisions being made in Washington D.C. at this time will most likely have a profound impact on the way that Americans, especially those in the Baby Boomer generation, finance themselves, their families and their lives.
An odd yet troubling factor has entered the U.S. fiscal cliff debate: Christmas vacation.
After news broke about the new set of proposed fiscal cliff resolutions, representatives from both parties quickly took to Twitter and the airwaves to dispel any ideas of compromise ahead of a final plan.
To help illustrate this point, we’ll look at each type of outstanding debt in succession and describe how it relates to the debt numbers that are often discussed and paraded around by Congressional politicians and media pundits.
During this time, the market has, for the most part, been forgiving. Yet politicians from both parties seem to be aware that these favorable conditions could change quickly, according to The Associated Press.
Speaking with CNBC’s Steve Liesman, the treasury secretary reiterated President Barack Obama’s demands for higher taxes as part of any final fiscal cliff deal.