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Economy
In reply to the discussion: STOCK MARKET WATCH -- Monday, 24 September 2012 [View all]Demeter
(85,373 posts)20. Face It: 2013 Is Gonna Be a Bummer By Matthew Philips
http://www.businessweek.com/articles/2012-09-13/face-it-2013-is-gonna-be-a-bummer#r=hp-ls
Whether its Barack Obama or Mitt Romney taking the presidential oath of office in January, someone will have the misfortune of overseeing an economy that looks a lot like the one we have today: low growth, persistently high unemployment, and huge amounts of debt. Depending on what happens with the fiscal cliff, theres at least a chance the U.S. will be in recession. The mere threat of $600 billion in tax hikes and spending cuts is already delaying business spending. Yet even if Congress does broker a deal and the worst of the fiscal cliff is postponed, 2013 is shaping up to be a rough year.
Big economic forces, both domestic and abroad, are combining to dampen growth. Fundamentals such as demographics and household finances that helped spur past recoveries are now slowing things down. These trends arent affected much by policy, so fixing them will be beyond the immediate grasp of an Obama or Romney administration. No matter who wins the election, from a truly economic standpoint, 2013 will be an extremely challenging year, says David Rosenberg, chief economist at Gluskin Sheff + Associates.
MORE DOOM AND GLOOM AT LINK
Whether its Barack Obama or Mitt Romney taking the presidential oath of office in January, someone will have the misfortune of overseeing an economy that looks a lot like the one we have today: low growth, persistently high unemployment, and huge amounts of debt. Depending on what happens with the fiscal cliff, theres at least a chance the U.S. will be in recession. The mere threat of $600 billion in tax hikes and spending cuts is already delaying business spending. Yet even if Congress does broker a deal and the worst of the fiscal cliff is postponed, 2013 is shaping up to be a rough year.
Big economic forces, both domestic and abroad, are combining to dampen growth. Fundamentals such as demographics and household finances that helped spur past recoveries are now slowing things down. These trends arent affected much by policy, so fixing them will be beyond the immediate grasp of an Obama or Romney administration. No matter who wins the election, from a truly economic standpoint, 2013 will be an extremely challenging year, says David Rosenberg, chief economist at Gluskin Sheff + Associates.
MORE DOOM AND GLOOM AT LINK
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Feast of Fools How US Democracy Became the Property of a Commercial Oligarchy By Lewis H. Lapham
Demeter
Sep 2012
#3
Somebody dumped a lot of paper (ETF's) to depress the gold and silver markets.
westerebus
Sep 2012
#31