Bernanke speaks. "Fiscal impetus and the inventory cycle can drive recovery only temporarily. For a sustained expansion to take hold, growth in private final demand–notably, consumer spending and business fixed investment–must ultimately take the lead… The prospects for household spending depend to a significant extent on how the jobs situation evolves… Incoming data on the labor market have remained disappointing."
Bottom line. Studies show that printing money alone does not generate jobs. Something else has to happen. It looks like, however, that current policies are not getting the job done. They may. Eventually. Let's hope so.
The readers of my The Peter Dag Portfolio know what I am talking about.
George Dagnino, PhD
Editor, The Peter Dag Portfolio. Since 1977
Ranked Top Market Timer in 2009 and 2010 by Timer Digest
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