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vendredi 4 mars 2011

Recovery? What recovery?

If you look at centuries of financial history, one thing in particular should strike you: no country has ever printed its way out of a recession.

And yet the FED is pointing to a surging stock market and misleading employment numbers to claim that its QE program is a huge success. Pinheads...

QE is nothing more than printing money. It may have a complicated name and have given an artificial boost to the stock market but printing money is not the same than creating wealth and prosperity. Instead of letting the markets readjust and reallocate resources, the FED and the Government are keeping the old economic model alive at the expense of the taxpayer and the suffering middle class (I'll take the time to write about that in later articles).

Recent employment numbers paint a grim picture: unemployment still hoovers around 10% while underemployment (that combines unemployed people with those who have a part time job but would like to work full time) is at nearly 20%. All in all, the job market is more or less where it was a year ago... Good thing TARP, QE and stimulus money was supposed to get us out of the ditch...



Just for fun, let's look at the Obama administration's original predictions...

And they dare say that we, the libertarians, wanted to kill the economy...

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