I used to think that not having a party affiliation was being "wishy washy" and indecisive. I registered for the party that I thought stood for compassion for fellow man and personal liberty. Not sure what to believe about our party choices today. No team work, no accountability, blame the other guy is the first approach. With 14 million Americans unemployed, how can any of our leaders show themselves in public let alone appear on the weekend morning news shows with such arrogance. Any hope of economic expansion, anytime soon, will be caught in the quagmire we call our Nation’s Capital.
What can we expect for the next twelve months?
We need an economic recovery, we need jobs, we need collective leadership.
With unemployment forecasted above 9%, FDR was the last President to be reelected with unemployment over 7%. That was 1936. The Democrats need to convince you that the recovery is underway; Republicans need to convince you that they have the solution. No one is right; it will take a collective effort of true leadership, across all parties, egoless compassion for fellow Americans and our entire country. Obama will go the way of Jimmy Carter and George H.W. Bush, one term victims of anemic economies.
The mess we are in was years in the making. It will take years to undo. No one person, or party, is to blame. For sure, Obama will go the way of Carter and HW. And us? We’re on our own. Sua Sponte.
Bradford C. Bruner for Sua Sponte Wealth Management
What can we expect for the next twelve months?
- Unemployment hovering around 9%.
- GDP at 2% with the recurring monthly question of recession based on contagion.
- Another downgrade of US debt based on zero confidence in our Congress.
- Volatile markets despite encouraging corporate earnings.
- Washington dysfunction and finger pointing. Surprise.
- More vacant housing developments – that may be bulldozed.
- Median household income to continue to decline.
- Housing prices continue to drop and more owners go underwater – currently 20%.
- Interest rates near zero – that do nothing to stimulate the economy.
- No fresh ideas out of Washington. They have run out of ammo.
- Debt crisis in Europe will spread throughout the EU and the World. Recession.
- China, the great growth engine to save us all, will slow and sputter.
- Not much deleveraging of household debt – remain at $13 trillion.
- The $450 billion jobs plan will do nothing for the unemployed.
- Consumer confidence trending down after the holiday euphoria.
- More global civil unrest – including escalations in the US.
- No clear plan for global growth - more pain, heartache and despair.
We need an economic recovery, we need jobs, we need collective leadership.
With unemployment forecasted above 9%, FDR was the last President to be reelected with unemployment over 7%. That was 1936. The Democrats need to convince you that the recovery is underway; Republicans need to convince you that they have the solution. No one is right; it will take a collective effort of true leadership, across all parties, egoless compassion for fellow Americans and our entire country. Obama will go the way of Jimmy Carter and George H.W. Bush, one term victims of anemic economies.
The mess we are in was years in the making. It will take years to undo. No one person, or party, is to blame. For sure, Obama will go the way of Carter and HW. And us? We’re on our own. Sua Sponte.
Bradford C. Bruner for Sua Sponte Wealth Management
