Massive spending to prop up bloated service/construction jobs as well as shore up bloated/overstuffed state/local governments is not good policy and it only prolongs the enevitable. All the realesate/brokerage/construction jobs were a byproduct of the credit bubble. So was the spending, the home prices and the DOW. That bubble is gone and so is the need for those jobs, gone is our spending power and consumer credit keeps shrinking. The economy is attempting to reorder itself and in the process show us what needs to be done. Banks aren't lending because they shouldn't be, (the consumer is still drowning in debt) consumers aren't spending because they are saving and they are broke. Instead of seeing the obvious, Obama prints money, destroys our currency and props up phantom sectors. The "cure" is like continually injecting a daying cancer patient with adrenaline in hopes of keeping him going for just a bit longer, the U.S. economy is like Bernie from "Weekend at Bernies I" he's dead, but damned if that will stop Obama from failing him about in a futile effort to fool everyone.
Does everyone get the point about the Fed, Congress. Obama and his "Council" and what they are doing to "fix" things? Quantative Easing, monetizing of our debt, printing money, bailouts, defecits and vodoo accounting...all these are phantoms and do not adress the causes...like giving more smack to the junkie 25hrs after he starts wig out and die.
Incomes are down, hours worked is down, REAL U.E. is at 20% and we still keep losing jobs...so what the DOW hit 10,000...guess what, the Dollar is worth 25% less of what is was several years ago. The dollar is backed by nothing. We aren't exploiting our resources, we can't expand oil/gas etc drilling and we exported most of our industries to other nations long ago. We need balance, we need sanity and we need leadership. We have none of these right now.
Proping up the unsustainable and in the process killing your currency is a very bad idea.
