Got me to thinking about all the comments I've heard regarding the fiscal cliff. Here are some I recall, I'm sure others can add to the list:
1. Last week's talking heads: There is a 30% chance we will go over the cliff.
2. Going over the cliff might be a good thing because it will motivate politicians to become serious about the issue.
3. The fiscal cliff should be postponed by 2 years.
4. Going over the fiscal cliff will be good for the market much as the downgrade of the US credit rating providing truth in visibility, admission of problems being a first step in the right direction.
5. Once we fall off the cliff, two weeks later the politicians will realize "Oh we had better do something" and pass a 6 month extension. Many workers will have an extended 2 week unpaid holiday "vacation."