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Don’t expect economic recovery in new year
by Jeff Latcham
Dec 28, 2012 | 1576 views | 7 7 comments | 9 9 recommendations | email to a friend | print
Businesses – particularly small businesses – face much uncertainty going into 2013. While there is always economic uncertainty in the future for any business, this year is different.

Entering 2013, businesses do not know what their tax rates will be. That’s a big chunk of any business’ planning. There are also plenty of questions still undetermined about the implementation of Obamacare and the many new taxes hidden within it and the new reporting and regulations coming down the pike with it.

Throw in the impact of going over the fiscal cliff with a national economy that is running only a notch above a recession already and it’s no wonder job growth is at a standstill in most of the country.

We are now in the most expansive big government movement in America’s history and it is crushing the private sector.

Consider the impact of the Dodd-Frank banking legislation allegedly drawn up in response to the financial crisis brought on by sub-prime mortgages. The law with more than 2,000 pages doesn’t even touch on sub-prime mortgages, but creates more than 70 new regulations and policies that banks are required to monitor and adhere to – regardless if they made a subprime mortgage loan or not.

Locally we are most fortunate to have real job and economic growth spurred by the Eagle Ford Shale. Without it, we’d be stalled in the doldrums like the rest of America.

We can only hope 2013 turns out better than it looks going in, but until the federal government takes its foot off the neck of the economy, the likelihood of an economic rebound will remain a pipe dream.

All should buckle up for a bumpy ride.

– Jeff Latcham
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DifferentView2
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January 31, 2013
The stock market ended January 2013 with the Dow Jones Industrial Average up nearly 6%, the best month since October 2011.

The Dow closed Jan. 31 at 13,860.58, up 5.77% this month. The Standard & Poor's 500 Index closed at 1,498.11, up 5.04% so far this year.

That's good news for investors. The theory is that the stock market's performance in the first month of the year sets the direction for the following 11 months.

Oops, Jeff?
feelark
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February 02, 2013
Big oopers, look at Friday's closing, best numbers since 2007. Something tells me they will try to give Bush credit for that, though.
DifferentView2
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February 02, 2013
Mark this prediction down with the prediction from Dick Morris that Mitt Romney would win the presidential election in 2012.

Although unemployment went from 7.8 percent to 7.9 percent, the Dept. of Labor revised the job growth estimates for November and December. With the inclusion of January data over 240,000 jobs were added in the latest report.

I guess that any Tom, Dick or Harry can claim to be an economist after they find the prize at the bottom of a box of Cracker Jacks?
DifferentView2
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January 01, 2013
First, an editorial that is a thinly disguised criticism of President Obama. However, the facts about the economy are that the unemployment rate is declining, corporate profits are excellent, companies are sitting on record amounts of cash in reserve, the housing market is improving and the stock market are near their historic records.

Second, Jeff can hand the editorial to the employees at the publishing company when they are told that there will not be any pay raises during the year.

That's the way to kill two birds with one stone! How convenient.

The overall gloom and desperation of the editorial is tempered near the end with the local energy boom and the "We can only hope" statements, but concludes with a pessimistic note intended to spread fear which in turn hurts the economic recovery.

feelark
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January 02, 2013
Agreed, DifferentView2. There seems to be nothing the GOP fears worse than economic recovery, for that would certainly help pave the way for another Democrat in 2016. This is evidenced by their stubbornness in trying to block the Fiscal Cliff legislation on down.

As for the Eagle Ford stuff, it's getting pretty desperate when one hinges their hope on a "boom" that pollutes our environment and contributes to traffic accidents due to recklessness. Call me a true Liberal and I will acknowledge with a smile!
DifferentView2
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January 02, 2013
Feelark,

Now you asked for it. You are a true (insert multiple adjectives) LIBERAL! Duck and cover--LOL!

Prepare for snark and keep on smiling. It riles them to believe that you perceive the web they weave and keep on thinking free.

And of course, congratulations are to be offered since you were recently conferred admission to the house of LOLCats!
feelark
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January 02, 2013
Many thanks for the honour of admission to the House of LOL Cats--I will strive to live up to the privilege.

You know, the snark you mention is always there in our right-wing friends' comments, and having taken a lot of it in the past, one will find that giving it right back to them, supported by facts (not Faux News talking points), is pretty effective at shutting them up-temporarily.

And keep an eye on Texas--it is starting to turn blue..........