That 750 thousand of job losses has to be wrong. Its probably more like 750 Million. Or at least 170 Million. Or something.
I maintain that we have never really been in a recovery to begin with.
David Woo is not the only economist who is alarmed. Milton Friedman predicted exactly what would happen. Obama is spending, taxing and borrowing every dollar he can get,and crimping the economy with endless anti capitalist rules, edicts and regulations. Bernacke is printing wildly.He is also committing American taxpayers to EU bailouts and IMF schemes. Friedman predicted that initially parameters might look good and equity markets would increase in price.However since there has been no real increase in production or real wealth, the inevitable consequence will be inflation, a decline in stock real value and further economic decline. The American people will endure a lower standard of living for a long time. Both Obama and Bernacke hope they will be gone before the full consequences of their bizarre policies are undeniably real. Bernanke is the worst individual ever appointed to high office.
“CBO is forecasting 750K job looses this year from sequester implementation”
Sequester means the budget doesn’t go up as much as originally intended, but it is still going up 2%.
How could increasing the budget 2% result in 750k jobs lost???
“Goldman Sachs sees a “tantalizing prospect” that the US economy may already be over the hump and that growth will accelerate this year”
I mean who wouldn’t trust Goldman Sachs.
Fault of the sequester of course...
It’s spring break time in our part of the world. All of my neighbors have school age children and, without exception, all of them are staying home the entire time this year and saving their money - a first for all of them - instead of flying off for a week of fun. While the loss of spending from these 16 families will certainly not matter a bit to Wall Street or Washington, I do feel it is more indicative of what people feel is going to happen to the economy than anything published by the so called experts.
http://www.youtube.com/watch?v=FOC2ea2tpPY
Meet your new Treasury Secretary!
Great video with Peter Schiff. We are so screwed! Only 5 minutes, watch it.