UNITED STATES
With the U.S. economy subject to economic martial law and our political leaders unable to achieve a consensus, one cannot expect growth faster than the current pace. A failure on the part of government to arrive at meaningful spending cuts has left an environment of uncertainty for global financial markets. Hence, alarmingly high unemployment and low real GDP growth will continue through the remainder of the year. Low interest rates and continued QE by the Federal Reserve has done nothing to spur the economy. In fact, it is harming the economy. While the Fed imposes its own economic martial law and the government continues its trend of reckless spending, it is common taxpayers (especially savers) who are left footing the bill.