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A policy-induced slowdown.
There are three main reasons for our downgrade. First, the recent incoming data, especially in the US and the euro area, have been disappointing, suggesting less momentum into 2H11 and pushing down full-year 2011 estimates. Second, recent policy errors – especially Europe’s slow and insufficient response to the sovereign crisis and the drama around lifting the US debt ceiling – have weighed down on financial markets and eroded business and consumer confidence. A negative feedback loop between weak growth and soggy asset markets now appears to be in the making in Europe and the US. This should be aggravated by the prospect of fiscal tightening in the US and Europe.
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http://ftalphaville.ft.com/blog/2011...-bbb-recovery/
Nov 2010 was supposed to be about "Jobs Jobs Jobs," but all DC has been talking about is "cut cut cut." Nothing has been done while the eco has been slowing all year and all the data has just gotten worse and worse. Markets are looking for some leadership and the Pres and Congress are out on vacation. Must be nice...
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Originally Posted by JERRY2KONE
...We need a money smart hard nosed buisness type in office who is not affraid to get his feet wet, and can stand up to both dominating parties and demand changes that will really improve America's standing. The more troubles and struggles the USA encounters the less respect and trust others with us as an allie.
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You won't find one in the current crop imo. Its President Gutless vs the Cult of the Brainless.
I'd wish Bloomberg would make a run as an Ind. Solid record in business and as NYC mayor. Plus no party allegiance to pull punches on Congress and no religious nuttery. Unfort too sensible to ever run for Pres. :(