http://www.nytimes.com/2012/12/17/business/economy/fiscal-cl...Economic Forecast Is Sunnier, but Washington Casts a Big ShadowBy CATHERINE RAMPELLNew York Times, December 16, 2012 ...The nascent housing rebound, the natural gas boom, record profit margins, a friendlier credit market for small businesses, along with pent-up demand for autos and other big purchases, could in combination unleash growth and hiring that the economy needs. ...Household formation is picking up: young people are finally moving into their own homes, as are other Americans who had lived with family or friends. ...consumers are unleashing some of their pent-up demand for cars. ... Estimates for the last quarter of 2012 are hovering around an unusually weak 1 percent annualized rate.That dismal pace is driven partly by drags from Europe’s recession and China’s slowdown; partly by companies readjusting after potentially overstocking their back-room shelves in the third quarter; and largely by worries about the so-called fiscal cliff of spending cuts and tax increases set for early 2013. ...The nonpartisan Congressional Budget Office has estimated that the entirety of the so-called fiscal cliff would shave about three percentage points off gross domestic product growth next year. ... [end quote]This week's Control Panel is similar to last week's. The market is neutral to slightly optimistic.http://stockcharts.com/freecharts/candleglance.html?$INDU,$S...http://stockcharts.com/freecharts/candleglance.html?$IRX,$US...http://money.cnn.com/data/fear-and-greed/http://stockcharts.com/h-sc/ui?s=$SPX&p=D&yr=1&m...Wendy
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