The Obama administration and the Federal Reserve have sunk enough money into the economy to keep the Titanic afloat, which can cause inflation - the ultimate disruption.
Last week the uncertainty of the presidential election was lifted and the market lost 2.4%, possibly because now that the election is over we can focus on just how close the fiscal cliff is.
There are more earnings reports this week. McDonald’s reported its numbers last week and showed negative same-store sales for the first time in about a decade.
There was good news out of health care, with Pfizer gaining approval for its rheumatoid arthritis drug, setting up direct competition with Abbott Laboratories. Amgen received good news as well.
There are a number of reports coming out this week; however, the big one is inflation. The Obama administration and the Federal Reserve have sunk a lot of money into economy with minimal results. But now we have to worry about inflation, which is, as Marek put it, “the ultimate disruption.”
If you have any questions for Marek, he can be contacted through Twitter at @MarekFuchs.
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Marek Fuchs was a stockbroker for Shearson Lehman Brothers before becoming a journalist who wrote The New York Times' "County Lines" column for six years. Marek speaks regularly on business and journalism issues at venues ranging from annual meetings of the Society of American Business Editors and Writers to PBS to National Public Radio. His last book, A Cold-Blooded Business, was called "riveting" by Kirkus Reviews and next book, Local Heroes: Portraits of American Volunteer Firefighters is due out in 2012. He is on the writing faculty at Sarah Lawrence College. When Marek is not writing, teaching or filming videos, he serves as a volunteer firefighter.