AMAZING WAY TO RUN AN ECONOMY….
No wonder America is losing more and more of the wealth pie to Asia. This quote from David Rosenberg pretty much speaks for itself:
“Brian Sack at the New York Fed stressed the need for the Fed’s actions to bolster asset inflation as to boost the wealth effect on spending (QE “adds to household wealth by keeping asset prices higher than they otherwise would be…”). We just can’t seem to wean ourselves off this asset-dependent economy — and how directed by a Fed official that the attempt here is to bring asset values above their intrinsic value. Amazing way to run an economy. Whatever happened to skills, productivity, education, job creation, innovation? Or thrift — when did that virtue become a dirty six-letter word?”
I’m thoroughly disgusted with the response of government over the last 24 months….
Source: Gluskin Sheff
The U.S. government is acting like a banana republic. To heck with looking for a job. After 2 years, I decided that was foolish. Now I am just trying to hang on to my nestegg by trading commodities. Seems to be working much better than working for a paycheck!
Which industry is going to lead the job creation effort?
Everything has already been outsourced.
MG
There is one word that sums it all up and that word my friends is “FREEDOM”
Freedom is what made/makes America exceptional among all other nations.
The Freedom to risk, the freedom to succeed and the freedom to fail.
Unfortunately, over time there has become this mindset of group-think that infected our ruling culture which is trying so hard to inoculate us from failure that it is slowly chocking off the very life sustaining principle by which we succeed.
Does that make sense?
“wealth effect”
yes it does cowpoke, as i clean my 1894c lever action rifle.
i guess the coolaid-drinkers supporting this administration don’t get up this early….why does that not surprise me?