Saturday, August 15, 2009

It's Not a "V", It's a "W"

This paper contains a lot of my sentiments. Excerpt:

In reality, G2 GDP was a disaster. Economic output during the second quarter was not powered at all by healthy private-sector expenditure and investment, but by unprecedented and unsustainable increases in federal and state government spending.

The economy is in very, very bad shape and we are seeing a sucker's rally.

No comments: