Quote:
Originally Posted by flacaltenn
I get a really bad feeling about this.. Market is diving like crazy.. Helmets and flak jackets NOW..
It really is that every sector of the economy is hurting from legislative uncertainty. This last minute budgeting and tax policy is arrogant and irresponsible. Want to invest in energy? Nawww. How about healthcare? You NUTS? Well then maybe banking.. No thanks. GM/Chrysler? Can't it's gonna crash when the govt sells. Overpriced Tech stocks like LinkedIn? No way..
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Here in San Diego, the malaise resonates throughout the once bustling area. Traffic has been noticeably less than pre-2009. The business people, that I talk to, are significantly down in sales and desperately trying to keep their employees. Small businesses that can operate out of a home office have done so. Of course, our cost of living has also significantly increased. A single bedroom apartment with, say, 800 square feet rents for $1100-1500 a month. No one wants to spend with the exception of the government, but that can't continue forever. IMO, you are quite correct in the assertion that the Obama Adminiistration and Congress have caused the malaise by their policies that engendered the uncertainty throughout, not only our economic system, but also, the international community. Sadly, I have no faith in the current leadership's abiltity to change course.