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Thought has been breaking news we've been reporting some the new fiscal cliff developments the route.
By the hour here markets now Charlie Gasparino on earlier telling us the White House been reaching out to bank executives with his sources telling him.
The present serious about dealing with the deficit and that moments ago with the speaker of the house John Boehner sharing his thoughts on what should be done.
I'm proposing revert to fiscal cliff.
Together in a manner that ensures that when he thirteen this finally the year.
Of that our government comes to grips -- the major problems that are facing us.
Here to talk to us about all of those problems is John Brown a former advisor to the British prime minister Margaret Thatcher back in the day and somebody spit on these issues telling you for a long time.
And he joins us now.
But it's gonna happen -- before the end of the year John.
-- I think got a lot of troll -- putting forward negotiating positions.
As both sides have to face reality and have for today up compromise.
Because that's the only way a deal is going to get done.
My big hope.
For the future is that President Obama not he's reelected does not have to appeal -- much.
By giving things away to his trades union base so I think he may be the person that leading that the compromise.
And it's going to be up to Republicans to reflect.
That movement and I thought -- -- and listening to don't -- and I think they're probably well.
Yeah those interest in a Boehner kind of say were ready to be led you know and management of the pretzel come out here and 1 o'clock and if you had to bet just looking at what he's.
The kind of -- -- -- what Charlie's reporting was still move more kind of Simpson -- ask I would think.
And say we will give a little -- you guys give a little bit more come up with something that reforms taxes but also gives a little bit on entitlements.
It in the morning -- -- and sending them a message here the last few days though what do you think it all means for financial markets.
Well I have the moment of course be put a bearish about reaching a compromise on the market so bearish.
In fact I had that there were a 120000.
People -- by businesses just on Wednesday for the for the fear of increased cost of -- -- -- But I think you're absurd they -- the Simpson bow same laws and exercise a pilot scheme are very very good private scheme in compromise between the two views of the two parties.
And I hope since -- that will be continued into the macro scale of the economy.
Make mid year is usually so doom and gloom there mr.
brown you're just today that it did not the most optimistic about the future I've -- -- -- while.
Well realistic guy -- -- I'd -- there is realistic.
-- reason for hope this time because I think Obama won't change from being extreme left to coming more towards a cent up.
And that has to be reflected by the Republicans in moving to native John -- Euro Pacific Capital thanks --
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