BOFA ANALYST: 3 Reasons Why Investors Are Too Complacent About The Upcoming Sequester
My son is a 12 year employee physicist(PhD) for a defense contractor and he's concerned.
People don’t realize that when spending is cut, jobs are cut. That is where money goes when it is “spent”. If you cut spending drastically, there will be a lot of layoffs. The problem we now have is that the FedGov now has a sembiotic relationship with the private sector’s economy. If the government really does all the cuts us conservatives would like, it would destroy the economy.
In fact, the only thing they can do that does NOT destroy the economy is kick the can and try to inflate us out of this. Problem is, that destroys it too. It just happens later.
It’s why I say there is no human solution to this. We are in this all the way to the bottom. And it is not just the US. It is the world’s entire economy/civilization. This will leave a mark.