Zeev's Turnips Patch-No Politics (ZEEV)

[mlsoft]

Zeev...

I do not deny at all the beneficial effects of the drop in the price of oil and its effects on the economy. I tend to look at it as a tax cut, but also see that being offset a at least some by tax hikes at the state and local levels. I also think that the economy is considerably worse now than most folks think, and just the drop in the price of crude is not going to be able to turn the economy around either by itself or with the help of relatively mild tax cuts and spending programs.

I look for the economy to level out here at recessionary levels (probably got there last month) for a short time then resume to the downside.

Just my opinion, though.

mlsoft