Aww, is the arm of NBC worried about a new recession now that their Messiah Obama has won re-election? Funny how you never saw articles like this from CNBC before the election. But what’s done is done, and CNBC is worried that a new recession may be on the way. While CNBC and the rest of their ‘sister networks’ were praying for Obama to win, cheering on the damage and destruction caused by Hurricane Sandy to help Obama, there was no mention about the possibility of another recession. Until again, the day after the election.
As the financial world puts Tuesday’s presidential election behind it, the light in the tunnel could be an economic freight train.
Slowing corporate profits, the remnants of Superstorm Sandy and the ramifications of the “fiscal cliff” in Washington are expected to result in at least two quarters of slow or no growth that could make investing even trickier than it was during the ups and downs of 2012.
“The other overriding problem is we never really gained true escape velocity this cycle,” David Rosenberg, economist and strategist at Gluskin Sheff in Toronto, told CNBC.