Offshore: We have predicted the end of EMU in past sketches - not problems, the end. It will fail. The expiry may be an implosion (a problem for all of us) of the death of a thousand cuts. It looks more like the former than the later at this moment.
US: By now most understand the key retardant - gov’t, and too much of it. Recall that in July alone, according to Wyoming Sen. John Barrasso, more than 600 new regulations came on line, adding $9.5 billion to businesses' annual cost."
Powers of resuscitation are not completely dormant however. In spite of a statist president, some folks are hiring. We saw that today.
We will see growth into year end. We will see the consumer shake a leg.
Robert Craven
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