Almost 2/3 of Q4 were after the infamous reelection of The Won. GDP was finally moving along at a half-way decent rate (>3% growth in Q3), but hopes for a better 2013 were crushed that bitter day in November.
Businesses are “going Galt” now. This is a consequence of Obama and his policies. Let Q2 show another drop and it’ll be official: “Obama’s double-dip recession.”
>Let Q2 show another drop and it’ll be official: “Obama’s >double-dip recession.”
Q2 will be even worse. The US economy is in a 5 way squeeze.
1. Young workers, those note unemployed are saddled with college debt, so they aren’t spending.
2. Baby Boomers, looking at not retiring, low fixed income investment returns, so they aren’t spending
3. >50% of all US are living paycheck to paycheck, and now that pay check is smaller due to tax increases and portion they must pay of increasing health care premiums.
4. Increased US debt and fed QE are devaluing the dollar, so monthly cost of living is increasing. The cpi is a lie.
5. Obamacare is creating a new middle class where workers will need to work 3 part time jobs to (3x20 hours) to stay even with where they were before obama (BO)