And that is exactly why I keep telling people that those ‘green shoots’ are weeds.
The consumer is 70% of our economy. It is simple math. No jobs = no consumer = no recovery
Couple all of that with those of us who simply are not spending, in protest of the dictator in the White House and the corrupt congress....Still doing my part!!
How do we turn it around at this point?
High taxes = no jobs = no consumer = no recovery
The consumer is 70% of the economy as measured by GDP, but is only a third when all intermediate investment is taken into account. Investment is much more important for an economy than consumption. But the idea of a jobless recovery is no less ridiculous either way.