Posted by
Defend America on Friday, November 13, 2009 8:33:01 AM
Gluskin
Sheff economist David Rosenberg, formerly of Merrill Lynch, thinks the
unemployment rate is going to at least 12 percent, maybe even 13
percent. Optimists, Rosenberg explains, underestimate the incredible
damage done to the labor market during this downturn. And even before
this downturn, the economy was not generating jobs in huge numbers. If
he is right, all political bets are off. I think the Democrats could
lose the House and effective control of the Senate. I think you would
also be talking about the rise of third party and perhaps a challenger
to Obama in 2012.
So here is what I gleaned from Rosenberg’s latest report (bold is mine)