Tuesday, April 19, 2011

Debt-Based Malaise Creeps Up On America

It didn't take long at all for the S&P's downgrade of the U.S. debt outlook to creep into our zeitgeist.  The stock market fell yesterday in response.  That was the warm-up for whatever awaits the end of the Fed's quantitative easing policy.  Fears about sovereign debt haven't left Europe either, driving up yields over there. 

Joe Six Pack is now getting queasy about his government's profligacy.  Voters don't think either party has the chops to solve America's economic woes.  That won't stop them from voting for one of those parties in 2012 but it's nice to see some honesty leak out every once in a while.  JSP will have even more to worry about once he learns that U.S.-based multinationals continue to move American jobs abroad

Man, things aren't looking so good anywhere.  It's time for a stiff drink.