So as the new year starts, where do we stand?  It seems like things are poised to stay about the same or get worse.  Nothing on the horizon suggests that the economy will start moving again on its own.  All of the long-term factors and components of a changed structural economy are in place and will remain in place for a long time, mimicking an economy in recession.  What is true this week was true last week.  And with Congress dithering on the payroll tax cut extension and undecided on continuing aid to the long-term unemployed, the signs are not encouraging.  Add to that the presidential campaign that officially starts tomorrow in Iowa and that will not be resolved for another 11 months – tempting businesses in and outside the United States to hold back from investing in their own growth.  Hard to make a new year’s resolution to remain optimistic.  However: Continue reading →