Former U.S. Senator Judd Gregg has some interesting thoughts on the state of the nation’s economy and its impact on the upcoming Presidential elections.
September is a month where unusual and often extremely damaging things seem to happen.
It is the month that kicked off the Great Depression and led to Black Monday a month later.
It also is the month in which, in 2008, the nation came close to a total economic collapse.
Bear Stearns failed. Lehman failed. And the world stood on the brink of another potentially massive depression brought on by financial disarray.
Why these events seem to crowd into September is a subject of a great deal of conjecture. There is no consistent answer. But it seems September is the point in the year where people assess where they have gone, and what the next year will be like, and make investment decisions based on their conclusions.
And Gregg thinks this September could be potentially worse than even September 2008.
First, there’s the European fiscal mess…. Second, Israel is under attack, or at least her people are, in places such as Bulgaria. They believe Iran is behind these attacks…. Third, America is not doing a good job of managing its own responsibility — being a force for responsible government and a source of economic growth. In fact, the impending fiscal cliff is clearly a potential accelerant for a meltdown…. Fourth, Americans who generate economic activity are beginning to get worn down amid the incessant attacks of the Obama administration.
One thing is for sure — there is a lot of uncertainty in the world as we move into the Fall of 2012.