Jeremy Grantham: Not as Much Stock Doom With GDP Gloom
In his quarterly letter, GMO’s chief market pessimist Jeremy Grantham reviews new data related to “likely lower GDP growth”—and presents a positive outlook.
Obama: GOP Holds Nation Hostage on Debt Ceiling
President Obama dispelled any doubt Monday as to whether the fiscal fight over government spending is going to be bare-knuckled.
New Hire Roundup: LPL Financial Welcomes Lochan
This week in new hires, Brendt Stallings and Husam Nazer joined DoubleLine, the MSRB board announced that it is looking for a few good applicants, and Citi named two new co-presidents.
House Passes Fiscal Cliff Bill, Averting Plunge—for Now
House passes Senate bill, 257-167, shortly before midnight, sending legislation to President Barack Obama to sign.
Senate Pushes House on Fiscal Cliff
Speaker of the House John Boehner called for Congess to reconvene on Sunday.
Fiscal Cliff – Bring It On: News Analysis
The issue is how Americans spend money, but rational analysis has been absent from our political discourse. Only pain will prompt appropriate aversion to consuming more than our resources allow.
Beyond Stock Gloom
Since the recovery from the worldwide financial meltdown commenced in 2009, global stock markets have closely mirrored international economic fundamentals.
The Numbers Don’t Lie: Boomers Nervous About Health Care, Social Security
The 2012 Retirement & Politics Survey by Allianz has found that “transition boomers”—people between the ages of 55 and 65 who are less than 10 years away from retirement—see rising health care costs and Social Security as having the greatest impact on their retirement outlook.
Jeremy Grantham: Growth as We Knew It ‘Gone Forever’
Grantham, the doomsaying hedge fund manager, says data make clear we’re in a new era of 1% growth; echoing Research Affiliates’ Christopher Brightman’s observations.
Arnott's Firm: U.S. GDP Estimates Way Off: 1% Growth Is New Normal
Unless the U.S. makes politically difficult changes in immigration, employment and investment policies, Americans should expect a long-term “new normal” rate of growth of just 1%, says investment management firm Research Affiliates.