The coming Fiscal Cliff.

Terms:
Fiscal Cliff: A number of events slated to occur on or about Jan 1, 2013.

The events:
1. A cut in federal programs of $109B;
2. End of Bush tax cuts -taxmageddon- $440B;
3. End of stimulus programs (TARP, Porkulus, QE2);
4. Five new taxes of 'ObamaCare ($1T?);'
5. End of all bailouts.

Expected results:

1. Since, $50B of the cuts is to be from the Pentagon budget, the military is going to be gutted.
2. Firms producing for the military are going to lay off hundreds of thousands of workers.
3. corporate profits will plummet.
4. Stock Market is overvalued. Expect a third bear market in this new century.
5. A collapse of the economy.
6. Bond market will collapse and interest rates will rise.

Wild card: QE3.

Widely expected. PMs on the rise.