There is a thoughtful piece over at Invested Central today. John Hopkins makes a very compelling case that we are, in fact, in a recession.
I take it one step further – we never left the recession.
The only way we were in a recovery is by the most technical definition.
$14 Trillion in debt. 9.1% unemployment. Anemic growth. $4.00 gasoline. Crashed housing market.
What the hell recovery is Obama talking about?
If the government had not spent a trillion and a half dollars on non-sense (TARP and Porkulus), enacted a massive new set of costs and bureaucracy (Obamacare), massive “quantitative easing” – code for stupid monetary gimmickry – we’d likely be much better off.
The housing market should be allowed to crash. Financial institutions who played with these junk securities should be allowed to crash and burn. The market should be allowed to correct itself. That, coupled with a new business friendly government will see new confidence in America and a real economic recovery.
7 Steps To An Economic Boom
- Throw Obama out of office – restore confidence in government
- Eliminate Obamacare – save trillions
- Cut government spending by 30% across the board – reduce debt
- Permanent capital gains tax cut to 10% – stimulate economic activity
- Reduce the top marginal tax rate to 25% – stimulate economic activity
- Tax breaks for domestic oil drilling – reduce gas prices
- Deregulate EPA – reduce energy costs
We do this, our economy EXPLODES.