Friday, June 1, 2012

Don't Break Out the Champagne

The jobs release this morning confirms that the US economy has no real pep. This is bad news for anyone looking for a job or hoping to keep the job they have. I guess waging political war on capitalism isn't such a great economic policy after all.

Where are the economists? Why are they pretending that current economic policy makes any sense?

Obama spends a lot of time thinking about Europe these days. Schadenfreude I presume.

Surprise, surprise, Spain is beginning to be the next big story. Just wait. Italy and France will have their time in the sun. If you want jobs, then you have to make it attractive for business to hire people. Why is that so tough to see? If you wanted more apples would you put a $ 5 tax on every apple produced?

 I'm beginning to think the world might be better off without economists. Economists come up with tortured explanations to support things like minimum wages, health care mandates, higher taxes, and oppressive regulation. Do they really think this will create jobs?

The stock market is getting cheaper, although nothing fundamental has really changed in the last two years. At some point the stock market may become a real buy again, even though the news background is depressing. The march toward disaster in Europe continues its predictable path and the US political war on the economy is reaping its harvest.

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