Skip to comments.JPMORGAN: The US Recovery Is About To Hit A Pothole
Posted on 01/06/2013 3:54:54 PM PST by blam
JPMORGAN: The US Recovery Is About To Hit A Pothole
Walter Kurtz, Sober Look
Jan. 6, 2013, 8:43 AM
As discussed earlier (see post), US manufacturing sector has begun to recover. Manufacturing orders in the US as well as in Emerging Asia (see post) have diverged from other large economies. This trend is becoming reflected in the broader economic activity.
However according to JPMorgan, the result of the latest fiscal negotiations will soon create headwinds for this expansion and dampen GDP growth. The tax increases on higher income households as well as the hike in payroll taxes will crate a drag on growth. That in turn will limit global economic activity.
JPMorgan: - Regionally the US and Emerging Asia are leading the move up in our global surveys. In the US, early December labor market reports and consumer indicators reinforce this message. Unfortunately, the economy is about to hit a pothole as the household sector absorbs a large front-loaded drag resulting from the fiscal cliff agreement. The increase in payroll taxes and higher marginal rates on high-income households is set to depress 1H13 income growth by roughly 2%-pts at an annualized pace.
(Excerpt) Read more at businessinsider.com ...
No kidding. Why do you think they are talking about trillion dollar platinum coins?
That means JPM is about to be granted more feral government Cha-ching!
I think the “fiscal cliff” avoidance “deal” has sent the country over the cliff.
Tyranny: When the people fear government. Liberty: When government fears the people.
TYRANNY: When the people fear government. LIBERTY: When government fears the people.
TYRANNY: When the people fear the government. LIBERTY: When the government fears the people.
I’m not worried - in four years theres been no net job growth, no improvement in GDP, credit downgrading... this recovery has survived it all. What could possibly stop it now?
JP Morgan will be alright. They process the EBT cad transactions, so they will always get a cut.
It is about to hit a “black hole” and I am not being racist.......
There is no recovery. Every time I hear or read some pundit talking about recovery, I want to hurt someone. The lie is getting old. Repeating it doesn’t make it so.
Hit a pothole? More like colliding with reality. If a family with a declining income tries to maintain their lifestyle by maxing out their credit cards we all know what happens. Its called real bankruptcy and it is never pretty. This country is not only bankrupt but Obama’s regulatory agencies such as the EPA are bizarre, anti capitalists who are issuing endless rules and regulations that are contracting existing business and discouraging entrepreneurs. The economy is actually contracting.
They absolutely have to ut either Obamas face or Karl Zmarx on te 1 Trillin dollar coins.
My best investing years are draining away because of some communist SOB ruining the economy with his bankers.
Ugh problem posting from iPad.
Those who missed the recovery won’t notice much difference when the pothole gets hit.
Not to go off topic, but why do sinkholes always seem to be nearly perfectly round? Just like crop circles. oo-wee-oo
Sorry. I’ve been off “visiting” & a whole bunch of the dummies are right off the reservation. I came to a post about the *GOP* “cracking up” & lost it. I’m still hysterical.
I think it’s because water collects under the surface and begins to pool, until it “eats” through enough to make it collapse
Well, thanks. I really did wonder about that.
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