19 July, 2010

Would you care for a double dip?

The Great Recession shows no sign of ending any time soon, no matter what the politicians tell us.

It's amazing when the best thing going for the eurozone is the relative weakness of the US dollar (now around $1.30 to the Euro). Although money has been (and continues to be) pumped into the American economy, the money going to Wall Street and global banks has not converted into jobs.  In a sense, the system is clogged with money at the top, and maintaining real unemployment rates of 16.5 percent (based on the Bureau of Labor Statistics "U-6" measure) to over 22 percent (by a private survey, including everyone looking for a full-time job).  The government, in short, "cooks the books," and almost certainly for political reasons.

The metaphor of a toilet comes to mind.  If we can shove just enough more into it, it's bound to open up, right?

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