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  • The Economic Recovery That Isn't [View article]
    Peter as usual is totally right- politicians and Wall Street want to paint a positive spin on any thing - the general bubble mania. I don't know what shape any recovery looks like if we keep losing jobs. Any other recovery is simply an accounting gimmick aided by stimulus spending.

    Consumers and investors are still in denial, this Christmas lights will definitely be a lot dimmer than last year - lots of jobs and home have been actually lost.

    At this point we know the Keynesian stimulus has failed - clunkers and car sales are early sign, home sales in a couple of months (after 8K credit ends) will further confirm that. So lot of wasted money (ultimately to be repaid by higher taxes). Now far from having a lush garden, as priced in into stocks now, we don't even have any green shoots. Lot more job losses and other pain yet to come, so just brace yourself. Even Wall Street may get over its irrational exuberance.
    Oct 04 04:07 am |Rating: +27 -5
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