Captain Rick: World stock markets jubilated as America was prevented from dropping over the ‘Fiscal Cliff. It was a political stunt pulled off by President Obama and Congress to kick the ‘Fiscal Cliff’ can down the road for 60 days.
The global stock market rally (which came short of a rebound to recent highs) will be short lived. In just 60 days the U.S. Congress will be forced to address the ‘Fiscal Cliff Sequester’ of automatic spending cuts and raising of the U.S. debt ceiling because of America’s supreme thirst for spending money it does not have.
So, for those who have not studied Captain Rick’s Fiscal Cliff Course 101 … have a glass of champagne and celebrate America’s continued fixation for spending money that has no revenue for support.