The latest manufacturing data shows that companies are already anticipating the fiscal cliff. A recent survey shows that 17% of large (greater than $1 billion in sales) manufacturing companies are delaying capital investment. This is the total fault of Congress and their inability to obey the first rule of kindergarten – work and play well together. Last nights debate was pretty much a draw. Give Ryan extra credit for keeping up with Biden.

“He has all of the virtues I dislike and none of the vices I admire” – Winston Churchill

IMF

The IMF has thrown cold water on any hope of a speedy worldwide recovery. Their latest forecast cuts growth expectations both in the United States and Europe. The group calls for immediate stimulus to mitigate the problem. However, Europe is on a huge austerity kick with sizable cuts in government spending. This is what has killed the Japanese economy over the past 20 years. Cutting when you should be spending and spending when you should be cutting.

And you assume you got something to offer
Secrets shiny and new
But how much of you is repetition
That you didn’t whisper to him too – Rodriguez