Posted by
Catmman on Thursday, October 29, 2009 1:18:09 PM
I like this analysis:
In other words, what we had in the third quarter was not long-term
growth based on solid investment in business. We had a flurry of
federal spending and consumer behavior predicated on highly temporary
government interventions, like Cash for Clunkers and the homebuyer tax
credit. That may be enough to make the administration look good for
the next three months, but only for that long if they don’t stimulate real investment
instead of using these gimmicky programs. If we have a double dip
recession after these gimmicks end, Barack Obama won’t have George Bush
to kick around any longer on the economy. He’ll own it after this.
More
here.