Home > News, Political, Politics, Pre Pulse Ramblings, Society > Recovery alert: Durable goods orders, housing sales plunged in August

Recovery alert: Durable goods orders, housing sales plunged in August

September 27, 2009 Leave a comment Go to comments

The problem with the economy now is the drain of capital from the private markets, both now and especially in the future. The Obama administration has expansive dreams of big-government control of health care and energy production which will suck capital out of the private markets, where it gets used efficiently, into government bureaucracies that waste it. These massive programs are running up massive deficits, and it doesn’t take a rocket scientist to know that taxes will get hiked in huge proportions to pay for it eventually. The result: investors put their money into savings rather than risk, jobs don’t get created, and recessions continue.

via Hot Air » Blog Archive » Recovery alert: Durable goods orders, housing sales plunged in August.

The paragraph above nails it.  This is how things work.  Those in denial continue down the path of tax and spend.  The cliff gets closer.

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