Hedgeye CEO Keith McCullough appeared on CNBC's Fast Money this evening to discuss the fiscal cliff and whether or not corporate earnings have peaked. Our view since March has been that global growth and earnings are slowing; the sell-side essentially took the contra view on global growth and tried to cover up by stating that earnings would be fine. It shows how the sell-side's business model is fading and how desperate Old Wall is trying to save face.
As far as the fiscal cliff goes, the likelihood of politicians in Washington working together has the same chance as the Dow hitting 30,000 by year end.
Watch the video clip we've posted for Keith's full take on the market and the cliff.