Jplout

Washington Drinking the Kool-Aid of Incompetent Economists

Great article, but the Kool-Aid drinking has been going on for some time by all of us. Example: 9% unemployment? Who R we kidding? True unemployment is more like 15% and 20% is some areas. The bogus unemployment numbers they serve us with the Kool-Aid is just one example how we'v grown complacent to the Masters' orders. Unless we come up with 4 to 5 million jobs soon the definition of middle class in the US will be changed for good. It would be difficult to recover without creating jobs. We all know now that most of the stimulus package $$$ when to bail out local governments with unsustainable largesse budgets. Are Florida & California broke? yea.
Stock market at unsustainable levels on low trading volume just helps the Government broadcast the illusion that recovery is in the horizon.
I don't think anyone is going to declare on October the 7th a worldwide depression, but the sooner we hit bottom the sooner the recovery.