What is the key to a real recovery? Jobs.
What will lead to job growth? A confident consumer with disposable income. The wealth effect of having that extra jingle in the pocket makes for a consumer more apt to spend. You know the story from there.
People spend creating the need to produce more which results in the producers hiring more people to meet the demand. It was reported on March 1 that personal incomes declined the most in 20 years by 3.6% while the savings rate fell from 6.4% to 2.4% the lowest since 2007. Then we were treated to the highest gas prices on record to begin March. Does this indicate consumers are feeling a lot of extra jingle in their pockets? Does this paint a picture that leads to rising confidence?
Living Large in the Obama White House: ...There was a reason that the Founding Fathers rejected titles and honorifics in favor of simplicity. Thankfully, the straightforward address, “Mr. President,” won out over the pretentious names that John Adams suggested, which included “His Majesty the President,” “His Mighty Benign Highness,” and “His High Mightiness.” (The Senate rather cruelly mocked Adams by suggesting it refer to him as “His Rotundity.”) Too many in our government have forgotten which way around this is supposed to work. Here in America, it’s supposed to be small government, Big People. This is the New World not the Old. And yet, if you could sew Marie Antoinette’s head back on and bring her back to life, she would look around at today’s White House and nod approvingly. As for the people queuing outside? Sorry, darling, we simply can’t afford to invite them in.