A Summer of Reruns For the Street?

A crisis brewing in the Eurozone. Employment growth in the US that started out well in January only to peter out in the spring. Deadlock in Congress over tax and budget issues. A rating agency threatens to downgrade US credit unless said tax and budget issues are resolved. Rock-bottom interest rates that make any investment a better prospect than T-bills. If one didn’t know any better, this could easily be late summer of 2011.

It is, of course, the start of the summer of 2012 and while all of the ingredients are the same as last year, there is hope that the pause on Wall Street that occurred in August 2011 won’t be repeated. The money, in short, is likely to keep flowing, barring outright economic turmoil.