The President has given a list of outrageous demands to the Republicans with no concessions on his part, as his play in negotiating the upcoming “fiscal cliff”. The Republicans had already started talking about compromise before the Democrats even thought about coming to the table. This will end in the age-old pattern: tax increases with no corresponding budget cuts because the cuts were put off into the future and the political cowards on Capitol Hill will not allow them to go through when the piper comes for his pay.
Today I cashed in my 401(k) account. I am sure the President would love to convert it -today- to a government account but the Republicrats still stand in the way. The wishy-washy Republicans that can’t even make up their mind to allow a previously agreed-to bipartisan compromise to happen, when they are certain to get the blame no matter WHAT happens.
Well, my capital is flying. Now. Unless they make a confiscatory law retroactive to today, my money will be mine. The gains (all the gains) my money made will be lost, but I will preserve the capital.
The ruling elite in Germany thought they could control Hitler with the national legislature, and we all (should) know how well that came out. Maybe I’m wrong. I stand to lose significant capital gains, but at least I am making an effort to be prudent.