Non-Farm employment today stands at 130,265,000. In July of 2009, it stood at 130,193,000. If you look real hard, you may see some microscopic job growth. Back in May 2010, Young Research’s finely tuned leading indicator composite stood at 115.5. Today it stands at 114.8. How does the momentum look to you? And now interest rates (10-year T-Note) are soaring. I blame the administration, Congress and the Fed. That is the long and the short of the mess we are in, America.
Among the handful of people in government who seem to understand the depth of the problem and danger to America are Congressman Ron Paul (TX), Senator Rand Paul (KY), and Governors Chris Christie (NJ) and Scott Walker (WI). How can Federal Reserve Chairman Ben Bernanke subsidize the banks, while at the same time he allows them to pay depositors nothing on their deposits? Look at the treasury market. The investor finds that he cannot make anything on short treasuries, and he is getting massacred on long treasuries! Does anyone think that’s right? If your answer is “No it’s not,” then whom do you blame? You don’t need to look any further than Bernanke, Sen. Harry Reid, Congresswoman Nancy Pelosi, and the president. The situation is getting worse, not better. There’s more debt, more money, and more inflation. Maybe I just don’t understand all this.