Complete and utter meltdown to the point where are all fighting over chicken skins and muffin stumps? The next asset bubble to get us back to our mall-hopping weekends? It’s anybody’s guess really.
Grant Thornton LLP’s Business Optimism Index, based on a quarterly survey of U.S. business leaders, decreased significantly to 58.4 in August from a recent high of 67.6 in May. Business leaders are again becoming pessimistic, with only one-third (34%) expecting the U.S. economy to improve in the next six months, down significantly from 63% in May. The hiring outlook has also dimmed; only 38% of business leaders report that their companies will ramp up hiring in the next six months.
So the one thing we can count on is that unemployment will be hovering above 9% until at least the next presidential election. Got it.