Jan 132010
David Rosenberg today via email again cautions regarding a recovery citing the following:
• U.S. small business confidence at recession levels — the NFIB small business sentiment index dipped for the second month in a row in December
• U.S. consumer confidence not much better — the weekly ABC/Washington Post consumer comfort poll tanked for the latest week
• Early start to the U.S. earnings season less than stellar
There will be no recovery, at least in the foreseeable future. To understand why, read post on Obamanomics. http://www.economicnoise.com/2009/11/23/why-obamanomics-will-not-improve-the-economy/
