mouse

Job Numbers: Deteriorating, and Understated

jstratt, your optimism is refreshing, but I fear that it is based on incomplete information about our current situation. The federal government has 10 times as much debt as it had then, and most American households also have far more debt......this spending binge, which has created unprecedented levels of public and private debt, is coming to and end, and there is no easy way to fix what is happening in the economy. The bromide that this has all happened before, and that things will straighten themselves out in a few months, is based on the premise that we can go on doing what we've been doing for the past two decades, and I don't think that's true. The deflationary side of the cycle has begun, and it's not going to be fun.