Tuesday, July 14, 2009


The economy is even worse than you think:

"Job losses may last well into 2010 to hit an unemployment peak close to 11%. That unemployment rate may be sustained for an extended period."

Clark Howard of talk radio and HLN (or CNN?) has suggested that unemployment could hit 14%. One of the greatest problems we have in this environment is the same problem that those of the 1930s faced - uncertainty. Obama pushed through a bloated, ineffective stimulus package in such a rush that, 6 months later, we're collectively realizing it was a mistake. That realization sows the kind of uncertainty that FDR's theory testing did during the New Deal. If Obama wants to effect real change, he can do it by giving business the incentive to hire and grow not save and shrink.

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