Wall Street Jumps the Shark as Washington Sends America Over the Fiscal Cliff

Washington's silliness continued to drive Wall Street's greed instinct, and, on the final day of the year of 2012, Washington called Wall Street's bluff, and the sharpies on the trading exchanges not only blinked, but may have gotten poked in the eye.

According to the most unreliable sources available (CNBC), Mitch McConnell, minority leader in the Senate, and Joe Biden, vice president, struck a deal on Monday and have initiated what appears to be a deal, the most salient parts being a tax increase for earners making over $450,000 per year, extension of unemployment benefits and a hike in the capital gains tax to 20%.

As of the close of markets, no legislation has actually hit either floor of congress, though it certainly seemed good enough for the money merchants in the pits and on the trading floors.

It's an incredible show, befitting a broken political process and an illegitimate market run mostly by computers with algorithms trained to scan headlines.

The House has already said it won't vote on the measure until after the New Year, meaning, technically, there is no deal in place, and, as if there ever was any doubt, Money Daily has been proven correct, maintaining all along that there would be no deal before the stoke of midnight on December 31, 2012.

Without a doubt, the hilarity will continue on January 1st, 2nd, and beyond.

Happy New Year, America. Your political and financial leaders are drunk with money and power, but haven't a single functional wit among them.

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