Addressing Fiscal Cliff Worries
Dr. Michael A. Yoshikami, Destination Wealth Management
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Dr. Michael A. Yoshikami, Founder & CEO at Destination Wealth Management in San Francisco, discusses:
- 'Fiscal cliff' issue - - severe fiscal tightening - expiry of $400bn in tax cuts - $200bn in spending cut - mandated by law;
- Repercussion - corporate spending - consumer spending - shrink - unemployment expected to rise again;
- State budgets - out of control - chances of US slipping back into recession in 2013;
- Strategy: stocks holdings;
- Fed options.