Here is a little humor ahead of tomorrow’s election and after an extremely difficult week for many, While many of us agree with this little girl and we’ll finally know for sure tomorrow night what we’ll get for the next four years, most business people and investors want a continuation of current tax rates (I specifically said tax rates because we’ll pay more in taxes if the economy gets better) and not rising ones, especially in the context of an economy that has grown less than 2% on average this year. In the current global economic circumstances, it won’t take much to push the US economy into a recession. In Europe, with more meetings on Greece this week, stocks there are playing catch up to our 2nd half of the day weakness on Friday. Yields in Spain are also moving to multi week highs. UK PMI services index fell to 50.6 from 52, the weakest since Dec ’10. In Asia, China’s state sector weighted PMI services index rose 1.8 pts to 55.5 in Oct but comes after falling 2.6 pts in Sept to the lowest in its short 1 1/2 yr history. The private sector weighted HSBC figure fell to 53.5 from 54.3 in Sept but still up from 52 in Aug. Australia, a Chinese economic proxy, saw exports in Sept fall to the lowest since Feb ’11 with merchandise exports specifically to China falling 6.5% m/o/m.

Category: MacroNotes

Please use the comments to demonstrate your own ignorance, unfamiliarity with empirical data and lack of respect for scientific knowledge. Be sure to create straw men and argue against things I have neither said nor implied. If you could repeat previously discredited memes or steer the conversation into irrelevant, off topic discussions, it would be appreciated. Lastly, kindly forgo all civility in your discourse . . . you are, after all, anonymous.

2 Responses to ““I’m tired of Bronco Bama and Mitt Romney””

  1. Greg0658 says:

    I saw a clip of kids question’g – gov officials, the weather channel, the other press vs. mom & dad decision of > get on the move / or not – with the big storm

    I am with this little girl – the cash spent into the MSM – to take control of the dole
    fleeting printed materials and the airwaves … just yuck

  2. Theravadin says:

    Whether or not “investors”want a continuation of current tax rates seems to depend on your investment timeframe. For long term investors, a reasonable increase in tax rates, especially in higher brackets, combined with reductions in expenditures, is probably preferable, even recognizing the short term economic pain. I think we’re all too focussed on tomorrow’s numbers… but a generational perspective needs to be part of our thinking as well.