Saturday, February 04, 2012

I like being right....

Expect billions to come home and fire up the boom. Then we slash the budget and bust all over again.

Oh wait President Romney will bring us hope and change and Wall Street will be told to take a hike.

Yeah right.

I think the Aztecs have a better chance, don't you?

This morning’s employment data is likely to turn the “double dip” discussion into a “double rip” discussion. It’s now crystal clear that all of last year’s recession talk was well off the mark. The USA continues to be supported by a healthy budget deficit that is serving as a buffer to any downside in growth. This doesn’t mean problems don’t remain, but the bears have greatly exaggerated the weakness in the US economy.

Econoday has the details on this morning’s employment report which showed a healthy jump in private sector employment to 240K jobs in January as well as a decline in the unemployment rate to 8.3%:

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