Just a smattering of miscellany from the world of economics and business:
- Chicago businessman Sam Zell: we’re going back into recession and it’s Obama’s fault.
A compounding lack of confidence in the future has kept American companies from investing in their businesses and is leading the country back into recession, real estate mogul Sam Zell told CNBC. The CEO of Equity Group Investments, which holds multiple publicly traded companies primarily in the real estate space, said a lack of leadership in Washington is keeping the $2 trillion or so of cash on company balance sheets on the sidelines.
- Bond King Bill Gross: US is a debt addict on “budgetary crystal meth.”
Stocks and bonds will be virtually worthless and gold and hard assets will be the only investments worth having unless the U.S. tames its addiction to debt and deficits, Pimco’s Bill Gross said Tuesday.
- Rich people (and when I say “rich” I mean those out-of-touch plutocrats that make $250,000 or more [so basically, my plumber and my heating guy]) are headed back into the bunker if Obama is re-elected.
The latest Mendelsohn Affluent Barometer showed that 43 percent of the $250,000-plus earners would spend more if Romney is elected. Only 18 percent of them would spend more if President Barack Obama is re-elected.
This is alot of doom and gloom, and from a media outfit that has been proven to be in the tank for Obama (or at least very convincingly argued to be in the tank for Obama). What does this say. Is the MSM giving up on their wounded horse?