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The Economy is even Worse than You Think

Discussion in 'Political Discussion' started by patsfan13, Jul 15, 2009.

  1. patsfan13

    patsfan13 Hall of Fame Poster PatsFans.com Supporter

    Jan 4, 2005
    Likes Received:
    +459 / 12 / -14

    Very good article on the current state of the economy, why the stimulus didn't work and why jobs won't be coming back anytime soon.

    Average length of unemployment highest since 1948. - WSJ.com

    The author doesn't get into the effect that the massive government borrowing will have in making it difficult for the private credit to get capital for business expansion nor the effects of the increased interest rates on the cost of capital.

    As I have said this crew is far worse than even the dreadful Carter administration.

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