Well, we have survived Sandy and the 1st Blizzard of the season. In addition we have passed GO for Obama 2.0. In the slowly deflating wake of the housing crisis, bank bailout and steroid injection, the States now face the 2nd greatest hurdle of the century: The Fiscal Cliff. For those unaware this event is to happen in January. So if the Mayans have it wrong, we are in for the Storm of the Century, where millions will be walking off the money cliff to give the monster what it wants, and hopefully it goes away. The estimation so far is a face-slapping $4500 per person -not household- taxation to cover the cost of the financial hole-in-the-head. This could create another Hooverville situation, seen just a meager 85 years ago at the crest of the Great Depression. In short, folks already strapped are about to be fit-to-be-tied.
It is by no means a secret, the States deeply control or effect the financial and global trade system of both profit and debt. My interest, though, lies with Technology. In the last four years the Fed and private sector have been laying a foundation for many tech related industries --from eduction to green energy and beyond. Could this crisis push the business minded population into a Web 3.0 or result in a new Dot Com era by enabling a mass migration of digital enterprise? Will the small, developing private tech sector be able to flex itself, even with the stinger of 4,500 a plate, and how will Angel, Small Cap or Exit Venture Capital companies balance the flood for two years?
On what basis do you think a whole lot of people getting a huge tax bill will have this effect?
On this morning reports -especially from the Street, Motley Fool, etc.
I am asking why/how they think that will happen.
1) Gov take all my money
3) Online business!!!
For starters the typical product manufacturing cost and import-export will slow down greatly. To compensate, technology based sales or online business could increase, due to reduced overhead, workforce, etc. The upside is domestic development, for domestic use -which has been looming//increasing as China and Taiwan's production decreases.
The big question is will the private tech sector have the cash to sustain the start-ups and what VC will do to boost this, possibly resulting in a new Dot Com era. Remembering the dot Com generation popped just as the bush era began and all hell broke loose as oil-gas, home manufacturing/inflation and war contracts sucked all the air out of the bubble.
Online sales? Shipping costs will kill that. Watch. Think local/regional.
Domestic shipping is very affordable. But, yes, international shipping can get costly. Still, from the massive reduction in overhead, I think that issue is balanced in the equation.
ps, great username!
Affordable for now. Fuel prices are going up. I am just trying to get people to think regional for identity and strength. When communities are strong, the nation is strong.
Thanks. We will see how long I last. I am having trouble with this format. That's why I am wasting time instead of doing an article.
None of that has anything to do with the fiscal cliff, so I guess you just put that in the subject line by mistake.
I'd like to see where you are getting this information.
And whether it is in addition to the 15% of my income I'm already flushing down the toilet by giving to the government.
I have been following the fiscal situation for a while. As said, the Street, Motley Fool, etc.
Yes, it is an addition.
With the Bush Administration tax cuts [which were bogus, inflammatory war funding tactics to begin with] expiring, as well as mandatory Fed spending cut, coupled with the floundering GPD, the "Cliff" would cause a per personal taxation of 4500 -respectively- to close the gap. This translates that more "traditional" blue collar manufacturing position would decrease and open the doors for a technological boom.
But, my hindsight -and tech insider- info thinks this could benefit the tech sector beyond generation Dot Com, by enabling a massive move into technology based businesses, which are smaller, more productive, with less work force and overhead costs.
Like it or not, Angel, VC, etc is going to play a huge factor, versus typical SBA, in keeping the economics moving. As banks are, well, banks. lol.
I looked around just yesterday for a white horse. Saw a fuzzy grayish looking stallion. The problem was the stallion was operated out of some NIC. Then I got it. We are beginning to think that "home based business" are technology based. Wrong. Home based businesses are entrepreneurial based and technology is one of many components that go into that. Technology must remain a tool and not a master.
by John Coviello 5 years ago
Who Is Responsible For Lack of Fiscal Cliff Action?Since the Congress passes laws and the President just signs them, shouldn't Congress pass a law that averts the fiscal cliff and put the onus on the President to either sign it or veto it? That seems to be the best way to get some serious...
by Gemini Fox 5 years ago
http://www.youtube.com/watch?v=kTxY-oZu … r_embedded
by Michele Travis 5 years ago
Obama want's to cut military funding= BadGOP won't raise taxes on the very rich= BadWill anyone agree about anything that will actually help the American people..No= BadThe GOP will not work with Obama no matter what=bad.
by Prakash Dighe 5 years ago
Should the Congress take up wheeling dealing on the Fiscal Cliff end December rather than now?If a deal is to be reached on the Fiscal Cliff by year end, it would mean some compromise by both the political parties, with some loss of face on their part. Rather than waste their time and our money on...
by Team Wiseman 5 years ago
How does the fiscal cliff effect me, the average American?
by Bruce 5 years ago
Is the Fiscal Cliff really a bad thing?I read somewhere that the fiscal cliff is really a fiscal hill and that even if we let all of the Bush era tax cuts expire and had all of the budget cuts of the sequestration, there would still be a 450 billion dollar deficit next year. What is the solution?
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