Macro Notes
EIGHT DAYSPeter Boockvar
The move higher this morning in the S&P futures takes it back to the 50 day moving average of 1416 on hopes that negotiations in DC are proceeding as hoped. We'll get a deal and stocks will like it temporarily but I repeat my belief that it won't be a good one in terms of honestly facing the fiscal challenges at the same time tax increases will hurt economic growth as it's by definition contractionary. To quantify according to the CBO, in 2012 the US Federal Gov't is expected to spend $3.56T (and similar amount in 2013) which equates to...
read more ?Source: http://www.ritholtz.com/blog/2012/11/china-over-investing/
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