Obama has stated that the Country is headed in the right direction when in fact there still is an economic meltdown. Over 9% unemployment, more Americans losing their homes with the banks not loaning. No one can blame President Bush for Barack Obama’s inexperience in leading a Country.
While the economy has expanded for the last three quarters, that recovery won’t last long, says star money manager John Hussman.
“Based on evidence that has always and only been observed during or immediately prior to U.S. recessions, the U.S. economy appears headed into a second leg of an unusually challenging downturn,” he wrote in his monthly market comment.
Atlanta Federal Reserve Bank President Dennis Lockhart recently made the most bearish comments by a Fed official in months.
“Financial markets and many businesses are more nervous today than a few weeks and months ago,” he said in a speech. SOURCE