Moses

One possible reason that insider selling has become so lopsided: a Business Roundtable survey (.pdf) that finds over the next six months 79% of CEOs expect capital spending to be flat or worse - and 87% expect to do no hiring.

87% say not planning to hire anytime soon. Ouch, I feel for all the college grads joining the unemployment ranks with lots of student loans to pay off. I believe, according to the Fed, that we need 2.5% GDP growth just to keep employment steady and with the massive amount of debt service and government interference we are likely to see sub 2% growth for a long time. Bill Gross is betting on deflation and very low growth and he is a pretty smart guy to follow.