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No Expansion for the Future.

As a businessman who has been running a small company for over 25 years, I can personally say that this current economic, financial, political and confidence crisis is the worst one that I've seen.

Our company, which employs over 20 people is in no way thinking about expanding! There is way too much uncertainty that has been created by this administration over taxes, cost of health insurance, taxes on health insurance and other regulations that just are not business friendly.

A good example of this, is one that begins next year that requires companies to provide 1099's to every person or business that the company spends more than $600 dollars with during the year. This will be a HUGE burden at huge cost to small business! And for what? You know the IRS is in no way capable of properly recording the millions of these new 1099's.

And when I hear the talking heads speak about how people are saving more and spending less, I just shake my head. Just because credit card debt is dropping does not mean people are saving more. It simply means that huge amounts of debt are being written off and turned over to collections and therefore are not counted. Just like the people who have been unemployed for so long that they are no longer counted towards the unemployment rate. Does that mean they have jobs?

People are not saving more, most families are just barely keeping they're heads above water. Take note of the increased bankruptcy filings every quarter, thats the real picture.

Personally I believe that this will be a very long recession with many ups and downs, but a recession none the less.

Bottom line is that a person be must actively involved in securing and managing their portfolio. And that's what we do best, protect and grow...

Sincerely,
Tim M.

Disclosure: Long DIG SLV VXX Short QQQQ XRT XLE