Why Over 8% Unemployment Could Lie Ahead
By: Matt Clinch News Assistant
Severe fiscal tightening in the U.S. will lead to no growth or a contraction in the first two quarters of 2013 and will push unemployment over the 8 percent level, according to Lombard Street Research.
"Our view that unemployment could rise above 8 percent and that profits will be squeezed reflects a forecast of nil to negative 2013 (first quarter) growth, and further stagnation in (the second quarter)," a Lombard Street report released on Friday said.
The view contrasts sharply with that of other analysts who are considerably more bullish on the U.S. economy.
Keith McCullough, CEO of Hedgeye Risk Management told CNBC last week that he thinks employment could actually improve below 7 percent by the fourth quarter, adding that from a housing and employment perspective U.S growth is "pretty solid".
Misstep in gun bill could defeat the effort
One of the major gun-control efforts in Olympia this session calls for the sheriff to inspect the homes of assault-weapon owners. The bill’s backers say that was a mistake.
Seattle Times staff columnist
Forget police drones flying over your house. How about police coming inside, once a year, to have a look around?
As Orwellian as that sounds, it isn’t hypothetical. The notion of police home inspections was introduced in a bill last week in Olympia.
That it’s part of one of the major gun-control efforts pains me. It seemed in recent weeks lawmakers might be headed toward some common-sense regulation of gun sales. But then last week they went too far. By mistake, they claim. But still too far.
“They always say, we’ll never go house to house to take your guns away. But then you see this, and you have to wonder.”
That’s no gun-rights absolutist talking, but Lance Palmer, a Seattle trial lawyer and self-described liberal who brought the troubling Senate Bill 5737 to my attention. It’s the long-awaited assault-weapons ban, introduced last week by three Seattle Democrats.