|Good to hear that Jack, and good to hear from you. The company is also expanding overseas.|
I can only guess what the New Year will bring to the market. IMO it looks like oil and higher food and commodity prices will hold the economy back. Many doom sayers are predicting a collapse. Most free nations of the World are deep in debt. Therefore, I believe that's why their will be no collapses of economies. IMO, Ironically, China will be the one to help, because it's in their best interest. They are the manufacturing base of the world now. I can't see them getting by on just domestic growth alone. One bright spot in this market has been takeovers. Many world companies are loaded with cash and now is a good time to spend it. This, when they can't make a good return in safe investments.
Our President says he is open to Idea's to get people back to work and the economy rolling.
I have a Idea, most would call ridiculous & outrageous. Most likely even the President, Congress & Senate.
A once in a lifetime up to fifty thousand dollar withdrawal from IRA and 401-K's. No 10% penalty for early withdrawals. Something like a Federal 10% tax only on the amount, with something like a 3% tax for states. Banks and financial institutions would probably not like it. However, money would come filtering back as they get monies from credit card payments,mortgage stimulation, and retail stimulation. IMO sure would give the younger workforce of today an incentive to work and save. Ok, thats the end of my rant. I wait till the end of 2011. :+ )
Happy New Years to You.