Mega Bear Market Starting Monday: Its Gonna Fall Pretty Hard Because Markets Are Ruled Right Now By Fear

InvestmentWatch

People Don’t Even Have Money For Mickey D’s, Taxmageddon Approaches, APPLE earning report due next Thursday, And A New Housing Boom Could Already Be Starting

Wealthy Advised to Sell for Gains Before Unfriendly 2013

Sell.

That’s the message from some financial advisers, who are telling wealthy clients that the remainder of 2012 amounts to a last-chance sale on federal tax rates. Taxes are set to rise in January in the U.S., pushing the top rate on dividends to 43.4 percent from 15 percent and the top rate on capital gains to 23.8 percent from 15 percent.

Even if Congress averts the so-called fiscal cliff of tax increases on investments, income and estates, pressure to reduce budget deficits will mean higher taxes eventually, said Ron Florance of Wells Fargo & Co. (WFC)The answer is to take advantage of historically low rates and move taxable income and investment gains into this year, said Florance, managing director of investment strategy at the company’s private bank.

**Bill Gross Warns “Very Likely’ Central Banks Will Cause 1987-Like Crash

Wall Street Extends Declines, Tech Sector Weighs

The bad news piled up Friday. Sagging PC sales and trouble in Europe took a toll on Microsoft’s net income. Its stock lost 86 cents, or 3 percent, to $28.64. Marvell Technology Group and Advanced Micro Devices, which also make chips, sank sharply.

McDonald’s profit shrank as a strong dollar hurt international results, which account for two-thirds of its business. The fast-food giant’s stock lost $4.14, more than 4 percent, to $88.72.

General Electric, a bellwether of the economy, fell 3 percent. The company reported stronger profits early Friday, but its revenue missed Wall Street’s expectations.

Orders for new equipment and services sank, mainly because wind turbine orders have fallen because a key U.S. federal subsidy for wind power expires at the end of the year. GE’s stock lost 78 cents to $22.03.

———————-

Comment: If Americans don’t even have money for Mickey D’s…..then the end is neigh.

Read more at http://investmentwatchblog.com/mega-bear-market-starting-monday-its-gonna-fall-pretty-hard-because-markets-are-ruled-right-now-by-fear/#yd5FKaAz1RzvYrdO.99