QUESTION: What Exactly Would Happen If We Go Over the 'Fiscal Cliff'?

So, the same as if the cliff is avoided?

lol it seems so

Probably an Acme trampoline at the bottom, and we bounce back up just in time to eat our own dynamite?

Raise the debt ceiling
Soft Default will eventually follow
Dollar would take a hit

We have been over the fiscal cliff for several years, people choose to ignore it because they want more free stuff.

Just another "bump" in the road too true hell....

sadly this time lots of folks don't have shoes with leather soles that could be boiled down to make soup...

welfare checks stop, obama phones spontaneously explode, massive inflation of the dollar

Nothing except we go back to the dem tax rolls before bush put the tax cut in.
It's all bs and the mid to low earners are going to get fucked again while the super rich feed off us.

1. taxes go way up for everyone not in the club - the club is a special off the grid affair.
2. sell off in the DOW for people to avoid capital gains taxes, probably happen toward end of week as markets finally get no compromise is coming.
3. $600 billion shortfall in current gubmint spending which will be over-ridden either by executive order or by congress later on in 2013 as they reach the limit.

What you won't see is any meaningful reduction in government size nor spending. The decks chairs will just get rearranged but the titanic is still slowly sinking.

Nope, those will be the last things to go. Massive inflation, yes.

Exactly, because the checks will never stop is why they will continue to print and lead to massive inflation.

+1