Steve in Greensboro

U.S. Jobless Rate Hits 10.2% - Government Supporters Blame Rising Productivity

Thanks, Mr. Jackson, for the helpful note. You wrote: "...the malinvestments created by the previous credit expansion are still creating unemployment as the necessary readjustments are made. Secondly, Obama's policies are creating an enormous amount of uncertainty..."

The current recession is 100% government-caused. The previous credit expansion (Greenspan-Bernanke's response to the dot.com bubble) created the bubbles in equities and real estate which burst in 2007-2008. The recession is being prolonged and aggravated by Obama's "stimulus" packages (with multipliers less than 1) and the expectation of massive tax increases due to socialized healthcare, the expiration of the Bush tax cuts, carbon dioxide taxation, etc.

The next recession is being created now, by the current, even more massive credit expansion authored by Bernanke and Obama, which is creating bubbles in equities and commodities.