Quote:
Originally Posted by Redux
I still havent heard a better approach from the critics here...they just keep on bailing out.
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I would love to believe the stimulus has cured everything. But I am not that naive that any stimulus could. This recession current appears in patches. Among some groups - no significant adverse effect and no job losses. Among others - massive adverse effects.
For example, a construction machine company owner told me he could not sell his Case backhoe - only give it away. The recession has been that destructive to his business.
In another company - a wholesaler - business is down. But not enough to lay anyone off. Even a few restaurants say they have seen less business - but not enough to reduce staff.
Too many contradictory numbers confirm what history suggest. The massive job losses should occur years from now.
Meanwhile, it is possible that Bernanke's solution has been more successful than expected. Economics data does not and cannot predict. The next five years will be an economist's dream - an opportunity to (maybe) learn things about economics that nobody has even seen. One fact we do know. No two recessions pan out the same.