Comment on Let's say we go over the 'cliff'. How quickly will we feel the pain?

Let's say we go over the 'cliff'. How quickly will we feel the pain?

The markets are already fretting over the "fiscal cliff": On Thursday, the Dow seemed to surge and fall with every bit of micro-news about a deal or lack thereof, as Joe Weisenthal documented. It's an indication that the markets are increasingly anxious about the prospect of cliff-diving: If we go over, economists believe that the market fallout could be very quick, though we'd have a few weeks before the country would actually hit a recession.

 

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