CNBC article, here, titles: "Why US Economy May Be Headed for Another Recession"
The usual suspects including the eurozone crisis, Superstorm Sandy (which flies in the face of Krugman-esque natural-disasters-are-economic-stimulants theory), the imminent fiscal cliff and the lack of "escape velocity" from the previous recession are all present.
Here's the paragraph, however, that caught our eye:
Wall Street has recoiled since President Barack Obama won a second term following the hotly contested election in which Republican Mitt Romney painted the incumbent as anti-business. Stocks plunged more than 2 percent Wednesday and were off again Thursday afternoon, though not as steeply.
Good grief... Wall Street didn't recoil because Mitt Romney painted Obama as anti-business. Wall Street took a dive because Obama spent the past four years proving he was anti-business and now he just got 4 more years to keep proving it. Wall Street doesn't need Mitt Romney to tell them which way does the wind blow.
We realize that this article is a straight news piece and not an Op-Ed but by playing connect the dots in such a misleading and false manner, they are, in effect, editorializing.
Capital will continue to sit on the sidelines continuing to forestall any robust economic recovery because it is freaked out by the unknown as whatever the administration does not get pushed through Congress, they will simply make happen via executive order or via regulation.
That, friends, is not a recipe for a rebounding economy as the man's instincts and ideology have led him to tie up businesses and the private sector as a whole in more regulations and more red tape.
We hate to be gloomy Guses, but there are plenty of indicators out there that we will be facing our own loss decade.