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By Michael P. Orsi
Edward Snowden should declare his patriotism in court
Independent voices from the The Washington Times Communities
Topic - Andrew B. Busch
With only weeks to go, American businesses are bracing for the impact of the "fiscal cliff" in major ways.
With interest rates near zero and the Federal Reserve already owning a large share of the mortgage and Treasury securities markets, many investors fear the central bank may be out of ammunition should the economy take a serious turn for the worse.
One of the biggest of the big oil companies may be responsible for the worst environmental disaster in U.S. history, but Washington's response to the BP PLC spill would give an advantage to such major oil companies while threatening to put their small competitors out of business.
A sharp drop in consumer confidence helped set off a drop in stocks on Tuesday and renewed worries about the strength of the U.S. economic recovery.
European leaders, under the gun of a withering financial crisis, are actually proposing and carrying out drastic cuts, provoking the kind of public backlash that inspires fear in U.S. politicians.
"Tax rates matter significantly," as seen by the flurry of activity in financial markets, said Andrew B. Busch, global strategist at BMO Capital Markets Inc.
"Amazing things are happening, all surrounding the fiscal cliff," he said.