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Next Steps: Fiscal Cliff

Zero Hedge [1]
Nov 7, 2012

Tonight it’s all Obama-corns and Biden-faeries but the market is already ‘adjusting’ to the new old new normal regime. Unfortunately in ‘Obama II – This Time Its Different’ the odds of going over the Fiscal Cliff just got real. As we noted here [2] (and in more detail here [3] and here [4]), there is now a 55% chance we go over the cliff (given the status quo of no compromise [5]) and the market is a long way from pricing that kind of GDP shock [6]

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As for what comes next, here’s a hint: “Extended Alternative Fiscal Scenario [8]


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