"Company executives are postponing decisions such as hiring and plant-building until they can get some clarity from Washington on the looming “fiscal cliff” and possible higher taxes, according to an analysis of earnings conference calls by Goldman Sachs.
“Regulatory direction and political uncertainty remain key concerns to corporate leaders,” wrote David Kostin, a Goldman strategist, in the note. “Firms expressed a uniform desire for regulatory clarity.”
More indications that another big leg down is coming for the economy. Get as ready as you can. - Wes