"The rate of the acceleration of the economy has obviously slowed down and the economy is very large, there are different sectors and different regions and so on some sectors are actually improving and some sectors are are still worsening in general what I think the statics of today the 10% unemployment seem to confirm is that there is a disconnect between the real economy, with the real economy being the man in the street who works the middle class the working class and the financial markets market because of all the money printing and the stimulus that has been created by the governments and the central banks does not go into hiring new people and does not go into the construction of new factories and the acquisition of equipments and machinery but it goes into speculation, speculation mostly in commodities and in equities."
Marc Faber
That piece of crap in the white house knows so little about the economy, that is a big part of our problem.
ReplyDeleteFor example, just think how much money would be floating around right now if they paid off everyones mortgage instead of the banks? Our economy would be thriving right now. Or at least beginning to move at a much faster pace.
How about some tax credits for solar instead of paying to have a building built (Solyndra) that is now a waste of space. Those tax credits would stimulate money to be spent. Which would stimulate jobs.
There are ways to stimulate the economy, but little has been done in that regard. The current administration is fixated on the now, not the future or what could have been.