Three years after bankruptcy of Lehman Brothers jolted the U.S. economy into economic turmoil, job creation has rebounded from post-collapse lows, but economic confidence and consumer spending remain within the ranges seen in 2009. Gallup finds underemployment and unemployment essentially where they were a year ago…
All the trillions of borrowed and printed dollars – what did they get us? Nowhere – in the larger sense, we’ve just marked time since 2008. Oh, sure – we did “stop” the crash. But we stopped it in mid-air; the crash still has to finish. And now after devaluing our currency and piling up $4 trillion in additional debt, we’re going to get the rest of the crash we should have had three years ago.
Congratulations, Keynsians! Heck of a job there, Barry! All you’ve managed to do is make things worse.