What Can Be Done To Rescule the US Economy?

Things aren't looking well for the US economy. I'm going to get a closer look at that myself, as I'll be leaving next Friday for a week and a half long drive from Cheyenne to Warroad, MN and back. I expect to see a lot of closed businesses on the way, and that is always so sad.

"Reports Wednesday on manufacturing and company hiring were so weak that many economists immediately downgraded their forecasts for Friday's jobs report for May. Some analysts also slashed their estimates for growth in the April-June quarter." Now you got people out there talking about another recession. You've got some Democrats talking about perhaps a Great Depression. So now the doom and gloom is surfacing -- and believe me, this is not what the regime wanted. This is not part and parcel of the giant plan here. You don't have miracle economic recoveries from this baseline, but they're trying to set something like that up.

Here are three examples, for instance, of the bad economic news over the last few days just from CNBC. "Horror for US Economy as Data Falls Off Cliff." "Wall Street Baffled by Slowing Economy, Low Yields." Trader: Prepare for More Money Printing: Analysts." This last article reported that QE3 is about to start. That's Quantitative Easing 3. This is like a heroin addiction to people on Wall Street. It is the printing of money. Quantitative Easing 2 that kept stock prices up. You saw what happened. Stock prices were down demonstrably lower yesterday; this creating a panic. They're down again today. And so now the Wall Street people say, "Hey, give us more money, Ben! Pump some more money in! Start printing some more money." All of these official fixes have done nothing to revitalize the economy. Let's go to the audio sound bites and give a listen to this. A panic is beginning to set in out there and the media spin is that we're in recovery and they couldn't sustain it. The numbers don't lie. We have never been in a recovery. This is CNBC's Squawk on the Street today.

YASTROW: What we've got right now is almost near panic going on with money managers and people who are responsible for money. Ben Bernanke's not a magician. We're on the verge of a Great, Great Depression. The Fed knows it. We have many, many homeowners who are totally underwater here and cannot get out from under. The technology frontier is limited right now. We definitely have an innovation slowdown, and the economy's gonna suffer -- and all the Fed tweaking and all the interest rate tweaking and all of the tax adjustments are actually not going to be able to save us if we cannot get a cost of labor that's in line with the rest of the planet and we can't get our productivity levels high enough to justify the wages we're already being paid. It's not that complicated.

You really have to wonder how the US got into this state. We're supposed to be the most powerful country on the planet, the richest, yet half our citizens can't read and live on welfare, our politicians - Democrat and Republican - are corrupt, and the whole government is just ineptly run - and has been ineptly run for decades - regardless of the party in power.


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