Being the economy is the sum of human activity, it's important to try and sample what the average Joe is thinking. Apparently he isn't particularly positive or convinced by Obama's 'recovery' that things are getting better.
They keep trying to re-inflate the economy, unfortunately the baloon has a massive hole consisting of 30+% decrease in real estate values and 20% real unemployment. They are just making it worse.
When I examine the U.S. economic numbers, the debt bomb, the issues surrounding the debt ceiling, etc., in the context of what’s happening internationally, I get a very, very bad feeling about this.
Something nasty’s afoot and I can’t quite figure out the direction from which the next blows to this economy are going to come from. However, when I read that 15 EU banks fail stress test, I’m becoming more concerned about a “rolling” economic financial collapse. Economies based upon these fiat currencies are at great risk at the moment.
Consumer confidence in politically correct politics, business and academia is too high. Let’s notch ‘er down a little more, friends. ;-)