U.S. Looks Abroad in Another Week of Big Borrowing - WSJ.com
If this isn't a bubble, then what is?
The paper again today is replete with articles highlighting the parallel hopes for a revival of the private economy, an expansion of the government's role in the economy, huge and ongoing government demands for capital and no incentive to save.
As for programs to support business there is hopeful talk by economist and market participants but popular angst and antipathy in comments blaming banks for current levels of unemployment.
Do the above comments suggest the American economy is righting itself to fairly compete in the global economy and add jobs? Or, is it going in the wrong direction?
It appears clear that the government is more concerned with supporting what are clearly non-clearing prices for housing, etc. with additional subsidies that can come from only one place - the freely clearing forces of the market.
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