It’s clear there will be no recovery under the present administration. They are ideologically prohibited from doing what’s needed.
The problem is a debt implosion: high levels of debt have people concerned. As a consequence, businesses and banks are hording cash, families are saving and paying off debt. So cash in the system is NOT the problem!
Yet what do the Morons in the Administration think? Um, duh, a recession. All we need to do is “prime the pump” with more government borrowing and spending”. But this is EXACTLY the wrong thing to do! More debt creates more fear and makes things worse!
None of this addresses the Marxist anti-business attitude of the administration. A banner ad for the Obama campaign announced “Obama will punish Big Oil”. This is Progressive emotion and illogic, not what the economy needs. But what needs to be explored is the motives of the administration in the first place.
What the administration really desires is 51% of the voting population on government assistance. Then, the administration can use the plurality to fleece the other 49% by continually voting themselves more benefits. It will be done in the name of “the rich paying their fair share”. (but the top 1% pay 39% of the Federal income tax already, and the bottom 40% pay nothing! Is this not already more than a “fair share”?)
The flawed assumption here is that wealth formation can be taken for granted. This is not factual. Should such a scheme be instituted, the economy will contract at an accelerated pace, making everyone poorer! In fact, the only set point for “equality” is everyone at the subsistence level! But as Alinsky said: “we’d rather rule in hell than serve in heaven”. This is a perfect example!