Sailing into Uncharted Waters with Obama at the Helm

By Whitson G. Waldo, III

Economic news from the U.S. is darkening, while news from Europe suggests that tempestuous times are imminent. What can citizens expect and what should investors consider? Barack Obama's economics policies face increasing criticism. August's report indicated that net zero jobs were added. GDP grew at an annual rate of 0.7% the first half of 2011. Typically, the economy must grow at 3% annually for significant sustained job-creation. This means the unemployment rate of 9.1%, counting only those still motivated to look for jobs, will stay level at best. This rate persists above the 7.8% rate at Obama's inauguration. Sinking consumer and business confidences are correlated negatively with expectations for a double dip recession. The hunkered-down business view is that Obama's war on capital never abated while opportunities to redistribute wealth are never missed. Taxes are high and increasing due to Democrat legislation passed in 2009 and 2010. The number of pages in the Federal Register under Obama has climbed to ~83,000. For comparison, Ronald Reagan inherited ~75,000 from Jimmy Carter.... (Read Full Article)