2010 A long journey back Presentation for: California Municipal Treasurers’ Association Presented by: Paul Randelman, Regional Sales Manager September.

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Presentation transcript:

2010 A long journey back Presentation for: California Municipal Treasurers’ Association Presented by: Paul Randelman, Regional Sales Manager September 2010

I may not have gone where I intended to go, but I think I have ended up where I needed to be. -Douglas Adams 2

3 The Good

GDP has recovered 4 Source: Bloomberg

After a long, deep recession 5 Source: Bloomberg

Individuals are back 6 Source: Bloomberg

The pace of government spending has slowed 7 Source: Bloomberg

Consumers are charging less 8 Source: Bloomberg

Consumers are paying off debt 9 Source: Bloomberg

And saving more 10 Source: Bloomberg

11 The Bad

State and local government spending down 12 Source: Bloomberg

And saving more 13 Source: Bloomberg

Payrolls have bottomed (hopefully) 14 Source: Bloomberg

But it will be a long way back 15 Source: Bloomberg

Corporate spending is coming back 16 Source: Bloomberg

17 The Ugly

Existing home sales at record low 18 Source: Bloomberg

New home sales at record lows 19 Source: Bloomberg

Despite population growth 20 Source: Bloomberg

21 Two Thoughts

Austerity Programs are NOT GDP Enhancers - Rick Santelli 22

Be fearful when others are greedy and be greedy when others are fearful. - Warren Buffett 23

24 The opinions expressed in this presentation are general in nature and not intended to provide specific advice or recommendations. Contact your investment representative, attorney, accountant or tax advisor with regard to your specific situation. The opinions of the author do not necessarily reflect those of Wells Fargo Institutional Securities, LLC or any other Wells Fargo entity. Wells Fargo Securities is the trade name for certain capital markets and investment banking services of Wells Fargo & Company and its subsidiaries, including Wells Fargo Securities, LLC, a member of NYSE, FINRA and SIPC, and Wells Fargo Institutional Securities, LLC, a member of FINRA and SIPC, and Wells Fargo Bank, National Association. Wells Fargo Securities, LLC carries and provides clearing services for Wells Fargo Institutional Securities, LLC customer accounts. Investments offered are not FDIC insured · May lose value · No bank guarantee © 2010 Wells Fargo Securities, LLC. All rights reserved. For public use.