Government Will Dominate 2010 Agenda and Slow Recovery In ’10 May Bar Notable Hiring

–(– 01/01/2010 – Financial News industry news provided by Financial News USA. The clearest example is health care. As legislation to overhaul one-sixth of the economy contorted and morphed to pass the Senate, support plunged. The health bill may go through, but with midterm elections looming, other big items on the liberal agenda could stall.

Other areas of government intervention and possible expansion include the economy. Will the recovery need a second shot of stimulus?

1.  After a horrific bear market and one of the best recoveries in history, what can be expected of stocks in 2010?

The case for a continued rebound seems as persuasive as the argument for a significant correction.

Major indexes are near 52-week highs. But little conviction – manifested by few advances in strong volume – could be the market’s soft underbelly. [Read the full article]

The consensus is that the economy is fit enough to tackle that hill in 2010, though it will likely be at least a hard trudge, if not a frustratingly slow crawl.

The outlook is a combination of “the good, the bad and the ugly,” said Martin Regalia, chief economist for the U.S. Chamber of Commerce. “The good news is that we’re growing again. The (bad) is that we are probably not going to grow at a very high rate. The ugly part is that in the long run, we’re facing some truly daunting problems” tied to out-of-control fiscal policy.

Unlike the brisk rebounds from the steep downturns of 1974 and 1982 that quickly lowered unemployment, Regalia sees pedestrian 3% growth in 2010 – and he’s a bit ahead of the consensus.

Forecasters polled by Blue Chip Economics expect the U.S. to add 1.1 million jobs in 2010, leaving joblessness just shy of 10% at year-end.

The hit to incomes, as well as stock and real estate wealth, is likely to restrain consumer spending. [Read the full article] About Financial News USA

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