2-1: Debt Ceiling Deal Worse for ALL

Welcome to TishTrek - THE JOB BLOG!

Mom - The children of the Greatest Generation trashed the country their parents left them, (See below). Some think you're lucky because you're not here to see it. Miss you...

USA TODAY SURVEY, August 3rd, 2011 - Here's one you can take to the BANK! 8/4/11 quote from writer Susan Page: "The hard-won, last-minute agreement to raise the debt ceidling and cut the deficit gets low ratings from Americans, who by more than 2-1 predict it will make the nation's fragile economy worse rather than better."

I agree. The Debt Deal & Dodd-Frank Legislation will not eliminate long-term challenges for investors, corporations or the country in general. Whichever dueling economist we want to listen to, we can count on this: US companies have already prepared for a possible downgrade of the nation's credit rating; they've been preparing for weaker growth and have already been executing action plans tied to that expectation; many are looking abroad in emerging markets for growth where there's market share to gain AND where regulatory & corp taxes rates don't put "a deleterious drag on capital formation" & profits, (as reported by Goldman Sachs, HSBC (just this week - 30K job cuts and a move to emerging markets...), JPMC, the list goes on...)

This blog post was inspired by this: DealBook: Is Dodd-Frank Overdue or Overkill? Senate Hears Dueling... dealbook.nytimes.com · via John Reynolds on LinkedIn

Joseph E. Stiglitz, the Nobel-winning economist, contends Dodd-Frank does not go far enough. Eugene A. Ludwig, a former top financial regulator, warns of “a deleterious drag on capital formation."

Best regards,
TishTrek