In this new age of budgetary cuts, the Coalition rejects the false choice between military strength and economic health contending that economic prosperity depends on a strong national defense.
However, I also expect that strong municipalities will not have trouble navigating these more difficult economic times, given the strength of their income producing assets and their ability to cut expenses.
Regardless of impressive strength from Cisco on strong earnings and Facebook despite a lock-up expiration, weak economic data, uncertainty over the fiscal cliff, and the escalation of a military conflict between Israel and Palestine have conspired to keep the pressure on equities.
Amid a string of positive economic data, including a strong jobs report for September, solid auto sales and ISM numbers, the strength of the retail sales number contrasts starkly with the weakness exhibited by consumer sentiment.