Entering 2013; Uncertainty Grows

A few weeks have passed since our last Market Perspectives publication. Since then, we turned the corner into a new year full of resolutions and excitement. Much of that excitement was part of Washington’s last-minute deal to avoid the full impact of a fiscal cliff; those so-called leaders are quite predictable. Perhaps the most maddening part of this process was the irresponsible behavior that should only be seen among children or pugnacious bar-room brawlers. Even so, their failure to restrain future spending leaves us with the same ominous conditions that threaten to unravel a weak and delicate economy. On the other hand, maybe this is all our leaders are capable of producing.

Click here to view full article