Seems like this turned into a very prominent day in history …
- Today was Pope Benedict XVI last day as Pope after resigning and giving his farewell speech and then leaving the Vatican in his white helicopter for ride over the city and to his new residence. The first opening of the Pope position due to resignation since the 16th Century. Now the Cardinals get down to the business of picking the next Pope.
- Today the U.S. Senate failed to pass both Republican and Democratic alternatives to head off across-the-board spending cuts, further ensuring Washington will blow past a Friday deadline to avoid or replace $85 billion in cuts that threaten economic growth, military readiness and jobs. Now we wait to see what the lack of leadership from Congress and the President will do to the economy … and what the “reaction” will be the next 90 days. (Lack of leadership always results in “reacting” rather than managed responses and commonsense)
- After a strong January, for the month of February the Dow rose 1.4 percent, the S&P 500 gained 1.1 percent and the Nasdaq advanced 0.6 percent. Not robust, but positive even though the Dow did not match or exceed highs as the media seemed to imply as they attempted to prime the pump for the economy. This economy is stagnant at best and most likely will continue the saw-toothed up-and-down trend for most of the year. How the lack of leadership in Washington D C will play out won’t take long.
How do you feel about your investments?
How do you feel about your job security?
How do you feel your company/employer will manage in today’s volatile times?
Do you feel the governments (National, State, and Local) are helping businesses and individuals succeed for this year and the future? Are you concerned or confident?
© Phil Hoffman 2013. All rights reserved
I Am Phil Hoffman 