Wow, jobs grew by less than estimated in April, and were really anemic in May. How can anyone be optimistic after this? Unemployment is rising again. U-6 finally dropped a little, but all the rest of the stats are pretty dismal.
The people that believe in Keynesian economics, QE2 et al can try to spin this anyway they want but the market is telling them they are wrong.
The effects of the crony capitalism economy are being seen in unemployment numbers. Obamacare, Dodd-Frank, huge unchecked runaway bureaucracy. It has created “The Great Uncertainty”.
We are seeing people get frustrated and drop out of the work force. If you are a history major, check out charts from 1937-40. They might repeat themselves.
Tax incentives are wrong. Fiscal policy is wrong. Regulatory policy is wrong. Unless you want no growth and centralized planning.
Thanks for the link Instapundit, welcome to his readers.
No comments:
Post a Comment