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Leigh Baldwin & Co.

112 Albany Street, Cazenovia, NY 13035 | Phone: (315) 655-2964 Toll Free: 1-800-659-8044

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Diamonds and Dogs

With Winter Weather Comes a Freeze

With Winter Weather Comes a Freeze

The White House proposed putting a freeze on federal civilian employee wages this week in the first post-election act of partisan politics. Although a freeze is a step in the right direction, it will barely make a dent in the cost of government. Consider that civilian government employees now approach 2.1 million people, the highest level of federal employment in 18 years. Also consider that studies have shown that the cost of these employees is nearly double that of the private sector. Finally, since 1992, what with the acceptance of the internet and personal computing, private sector productivity has exploded while simultaneously government employment has exploded, something seems amiss. Even if it is baby steps, addressing the cost of government may become unfrozen.
November markets closed a bit lower for the month but December exploded up 2% out of the gate as dollars continue to flow and the recent action in Europe settles down, at least for the near term. Look for a strong month of December as money finds its way from bonds to stocks, tax loss selling is over, and future GDP estimates climb higher&
Diamonds and Dogs market commentary is a journal of daily observations on anything that happens to be of interest to our author. Obviously, our primary focus is the stock market and world economic events, but for this page we have no defined topics. We want this page to be dedicated to the interests, concerns, and possibly to the financial gain of our clients and friends. All comments contained herein are for informational purposes only, and should not be considered as a solicitation to buy or sell any security. The firm does not guarantee the accuracy or completeness of the information or make any warranties regarding results from it's usage.