The state of the economy is reflected in the chart below. We are in for a tough time for the next four years. Note: the last data point is that vertical line downward. That is not a border to the chart.
H/T to Reader NII for sending this:
Yet another reliable indicator suggesting QEs is not having any effect on Main Street. Note however, the uncertainty of tax policies in 2013 may have had a over-sized impact on expectations on small businesses. It is the small business sector of the economy that would be hurt the most by “tax loophole” closings.
It may be that small businesses counted on a ROMNEY win/ Republican control of the Senate? And with that, no major changes in tax policies. Small business should think that OBAMA will get 90% of what he wants in the Fiscal Cliff/tax policy area. Small businesses do have concerns some of those changed policies will hurt.
And remember, small businesses accounted for over 60% new jobs for at least the past 3 decades.