With Congress and the markets now playing a high stakes game of poker -- albeit with Congress playing by a different set of rules altogether -- here’s some proposed scoring:
: Boehner and McConnell or Reid and Pelosi say something positive: +50 Dow point
Boehner, McConnell, Reid and Pelosi say something positive: +100 points
Three of a Kind:
Republican or Democratic leadership says something positive: +25 points
Republican leadership, excluding Log Cabin Republicans, say something positive: +20 points
Congress agrees to tax dividends at ordinary income rates: -500 points
Representatives agree to fiscal cliff compromise: +500 points
Four of a Kind:
Obama, Geithner, Reid and Pelosi say something positive: +75 points
Tax benefits of gay marriage struck from potential compromise: -25 points
Top tax rates raised to those now applicable in France: - 200 points
Peter Atwater's groundbreaking book "Moods and Markets" is now available for pre-order on Amazon and Barnes & Noble.
“Peter Atwater brilliantly provides a framework for understanding both the socioeconomic hubris that led to the great credit bubble of the past decade and the dark social-psychological hangover that has resulted from its collapse. In so doing, he offers an invaluable guide to what promises to be a very difficult and turbulent period ahead as we experience what he calls the ‘me, here, and now’ behavioral tendencies of the post-crash world.” —Sherle R. Schwenninger, Director, Economic Growth Program, New America Foundation
Position in SH and JPM.
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