Did you ever think you would see an America in which most people see no problem with unemployment around 10%; 0% interest rates for more than a year (even though the economy allegedly grew more than 5% last quarter); $150 trillion of government liabilities coming due in the next 20 years; rising taxes; taxpayer-guaranteed bank and Wall Street profits; the government takeover of a major corporation like General Motors; excessive government control of multiple industries; and a Treasury market dependent on the sale of trillions of dollars of new bonds every year, with the Chinese government and our own Federal Reserve as the critical buyers?
Even a simple thing like the unemployment rate shows our ignorance. The Congressional Budget Office uses a 5% unemployment rate in its estimate of future growth and liabilities, but the chance of 5% unemployment any time in the next 10 years is almost zero. We need to either have millions of people of working age die or have about 400,000 jobs added per month for several years in a row. We never even got close to that during the best job market of our lifetime, which was in the late 1990s, and we never even got more than 200,000 jobs per month for the entire decade that just ended. That was with record low interest rates. Just to keep the unemployment rate where it is we need 150,000 jobs added per month -- every month. It's doubtful we can even keep that up for years, especially with either much higher interest rates or much higher commodity prices and inflation. One way or another you have to pay for money. Either you pay with higher rates, or with a cheaper currency and higher inflation. Except our economy is 67% consumption, so any export-oriented job gains from a cheaper currency will be wiped out by the lack of purchasing power of consumers. How does this add up to anything but disaster? All we need is Emperor Nero and his fiddle right now. Loading Comments... 1 2 3 Last » Next ›SHARE:
Featured Photo Galleries Go to Slideshow ArchiveConnect with TheStreet
Dow Jones S&P 500 NASDAQ 10-Year Note 10979.14 1189.61 2439.79 39.76 Oil * 86.08 UP 5.59 UP 2.17 UP 10.26 DOWN -0.18 10 Yr 3.98% SPDR Gold 111.37 0.05% 0.18% 0.42% -0.45% Data delayed 20 minutes More From TheStreet Latest Headlines Top Rated Stocks from TheStreet Ratings Cramer's Latest Picks from Mad Money if (Math.floor(Math.random() * 100) < 45) { document.write("Android: 3G vs. 4G Speed Test"); } else { document.write("ETF Research Center"); } Find returns with the Dividend Calendar if (Math.floor(Math.random() * 100) < 45) { document.write("Top-rated ETFs from TheStreet Ratings"); } else { document.write("UPDATED: Top-rated Mutual Funds from TheStreet Ratings"); } Twitter Facebook RSS Mobile App adsonar_placementId=1341369;adsonar_pid=879768;adsonar_ps=-1;adsonar_zw=320;adsonar_zh=280;adsonar_jv='ads.adsonar.com'; Brokerage Partners YAHOO.util.Event.on(window,"load",function(){ setTimeout(function(){ TSCM.util.attachScript('scr_intellitxt','http://thestreet.us.intellitxt.com/intellitxt/front.asp?ipid=10685'); },1200); }); Sponsored Links var ads = [ { link:"http://www.entrepreneur.com/business-opportunities/index.html?cam=thestreet&cid=Homepagetextlink1109", text:"Be Your Own Boss and Start your Own Business Today!", trk:null }, { link:"http://ad.doubleclick.net/clk;222499704;4639705;q?http://www.dionmm.com/sl/py/sitets2.py?adsrc=201039", text:"Exclusive Report: How to Best Use TIPS to Protect Your Assets", trk:null }, { link:"http://ad.doubleclick.net/clk;222669974;45232431;k", text:"Help2retire Obstacles. Get guidance on the path to retirement from Merrill Lynch.", trk:null }, { link:"http://ad.doubleclick.net/clk;223796514;4639705;q?http://www.niogold.com", text:"NioGold Mining - Own a Share of Canada's Golden Highway.", trk:null }, { link:"http://ad.doubleclick.net/clk;222499786;4639705;a?http://www.dionmm.com/sl/py/sitets2.py?adsrc=201040", text:"Special Report: Will Government Spending Create Huge Inflation?", trk:null }, { link:"http://ad.doubleclick.net/clk;220988988;44415082;v", text:"Step-by-Step Guidance to Your Maximum Refund", trk:'http://ad.doubleclick.net/ad/N5506.1199.0301731801621/B4084309.15;sz=1x1' }, { link:"http://ad.doubleclick.net/clk;223806605;47528270;g?http://www.optionshouse.com/landing/stocks295/?partner=street&utm_source=street&utm_medium=paid-banner-ads&utm_campaign=textlinks&utm_content=bash-s295-text", text:"$2.95 Flat-Rate Stock Trades @ OptionsHouse.com. Save Now.", trk:'http://ad.doubleclick.net/ad/N6067.272508.7329112262621/B4413938.11;sz=1x1' }, { link:"http://ad.doubleclick.net/clk;223806605;47528270;g?http://www.optionshouse.com/landing/stocks295/?partner=street&utm_source=street&utm_medium=paid-banner-ads&utm_campaign=textlinks&utm_content=bash-s295-text", text:"Why Pay More? $2.95 Flat-Rate Stock Trades @ OptionsHouse.", trk:'http://ad.doubleclick.net/ad/N6067.272508.7329112262621/B4413938.11;sz=1x1' }, { link:"http://ad.doubleclick.net/clk;221025362;4639705;a?http://www.gold101.com/request_information/", text:"Learn How to Buy Gold. Let Us Teach You Today!Superior Gold Group Gold101.com", trk:null }, { link:"http://ad.doubleclick.net/clk;222255324;45405692;b?http://www.realtor.com/?source=a28344", text:"4M listings. Comprehensive & current. Search now on Realtor.com", trk:null }, { link:"http://ad.doubleclick.net/clk;222869770;45405692;r?http://www.completetax.com/CTindex.asp?Welcome=PE1341562", text:"Get your maximum refund - fast and FREE - with CompleteTax!", trk:null }, { link:"http://ad.doubleclick.net/clk;223395922;4639705;o?http://www.virtualinvestingclub.com/lp/vic-opt-wiz-87t.php?adid=streetWktxt", text:"37 Year Old Wiz Kid Makes $87 Million Trading Options - Find Out!", trk:null }, { link:"http://ad.doubleclick.net/clk;223804138;45405692;f?http://www.wisdomtree.com/bannerads/dxj/dxjlp.html?utm_source=TheStreet&utm_medium=banner&utm_content=dxjtextST&utm_campaign=dxj", text:"DXJ: The 1st Japan equity ETF to hedge yen exposure", trk:null }, { link:"http://ad.doubleclick.net/click;h=v2|3C38|0|0|%2a|r;220770099;0-0;0;44407284;31-1|1;35979936|35997814|1;;%3fhttps://us.etrade.com/e/t/jumppage/viewjumppage?PageName=power_et_for_active_traders_mvt&SC=CS66WEB&ch_id=D&s_id=STRT&c_id=60DAYBT&o_id=60DAY", text:"Trade Free for 60 Days. E*TRADE Securities.", trk:'http://ad.doubleclick.net/imp;v1;f;220770099;0-0;0;44407284;1|1;35979936|35997814|1;;cs=r%3fhttp://ad.doubleclick.net/dot.gif?' }, { link:"http://ad.doubleclick.net/clk;223713956;47431952;m?http://www.optionsxpress.com/promos/virtualtrade.aspx?cmpid=tlSTRcopyA", text:"Practice No Risk Trading at optionsXpress", trk:null }, { link:"http://clk.atdmt.com/BEL/go/206871628/direct/01/", text:"ShareBuilder - Buy stocks for $4 and get a $50 Account Bonus!", trk:'http://view.atdmt.com/BEL/view/206871628/direct/01/' }, { link:"http://ad.doubleclick.net/clk;220815082;44534915;c?http://www.lvcva.com/campaigns?src=4130", text:"Las Vegas is serious about business. VegasMeansBusiness.com.", trk:'http://ad.doubleclick.net/ad/N5664.272508.7284099241621/B4167122.6;sz=1x1' } ]; function __trackingpixel(url){ var ord = Math.floor(Math.random() * 100000000000); if(typeof url != "undefined") { if(url.indexOf('[timestamp]')!= -1) { url = url.replace("[timestamp]", ord); } return ""; } } var counter=-1; var limit = 3; function __write_textlink() { counter++; if(counter >= limit)return; var index = Math.floor(Math.random() * ads.length * 10 % ads.length); var it = ads.splice(index,1); var o = it[0]; document.write(''); document.write( o.text ); document.write( '' ); if(o.trk != null){ document.write(__trackingpixel(o.trk)); } if(ads.length > 0) { __write_textlink(); } else { } }; __write_textlink(); TheStreet Premium Services All Services Action Alerts PLUS Get free access to Cramer's portfolio picks at Action Alerts PLUS - Try it now Free RealMoney Jim Cramer's RealMoney team of 70+ Wall Street pros will give you wealth-building strategies - Get started Free RealMoney Silver Doug Kass + our 5 Premium Services - all in one place - Get a free 14-day trial today Stocks Under $10 David Peltier is ready to help you find affordable Stocks Under $10 which could lead to a big-money payoff - Get access to his portfolio FREE ETF Action Don Dion's brand new service can help investors at all levels build profitable ETF portfolios - Learn more document.write(unescape("%3Cscript src='" + (document.location.protocol == "https:" ? "https://sb" : "http://b") + ".scorecardresearch.com/beacon.js' %3E%3C/script%3E")); var beaconurl=""; if(TSC.util.isDefined(document)){ beaconurl=document.URL; try{ if (top.location != self.location){ beaconurl=document.referrer; } }catch(e){} } COMSCORE.beacon({ c1:2, c2:"6036014", c3:"", c4:beaconurl, c5:"", c6:"", c15:"" }); var pvar = { cid: "us-thestreet", content: "tsc", server: "secure-us" }; var trac = nol_t(pvar); trac.record().post(); View Directory Jim Cramer Doug Kass Market Movers Breakout Stocks Options Alerts Stock Under $10 RealMoney Don Dion's ETF Action Hot Topics: How to Invest in Gold - Fast Money - Motorola Droid - Cramer's Picks - Apple Tablet | Hot Blogs: Undergraduate Investor - Wall Street Social Resources About Us Advertise Corrections Customer Service Employment Investor Relations Make a Suggestion Privacy Policy Readers' Feedback Sitemap Video Sitemap Subscribe Terms of Use Financial News Archive Topic Archive TheStreet Premium Services Compare All Services Jim Cramer's Action Alerts PLUS: Now any level of investor can trade right alongside a Wall Street pro — and enjoy 24/7 access to his portfolio! Learn More Login NEW! Don Dion's ETF Action: A concise two-step strategy for learning and trading in this increasingly lucrative area of investing. For all levels of investors! Learn More Login RealMoney: Jim Cramer's team of 70+ investment pros offer a daily wealth of fast-breaking market news... analyses... red-hot opportunities...and wealth-building strategies. Learn More Login RealMoney Silver: The genius of Doug Kass + 5 Premium Services = an unrivaled group of expert fundamental analysts, technical analysts, and Wall Street observers. Learn More Login Breakout Stocks: Bryan Ashenberg combines sophisticated screening software with eagle-eye analysis to find small and mid-caps ready to break out! Learn More Login Market Movers Deep in the Money Calls Stocks Under $10 Top Gun Trader TheStreet Ratings Daily Swing Trade Top Stocks ETF Shark Alerts Options Alerts try { function DM_onSegsAvailable(segs, cust_id) { for(var i=0;i Find the Best: Mortgage Rates | CD Rates | Savings Rates | Personal Finance | Retirement | Saving | Budget | Stock Picks document.write('© 1996-2010 TheStreet.com, Inc. All rights reserved.TheStreet.com's enterprise databases running Oracle are professionally monitored and managed by Pythian Remote DBA.
Quotes delayed at least 20 minutes for all exchanges. Market Data provided by Interactive Data. Company fundamental data provided by Morningstar. Earnings and ratings provided by Zacks. Mutual fund data provided by Valueline. ETF data provided by Lipper. Terms & Conditions. Powered and implemented by Interactive Data Managed Solutions.
TheStreet Ratings updates stock ratings daily. However, if no rating change occurs, the data on this page does not update. The data does update after 90 days if no rating change occurs within that time period.
IDC calculates the Market Cap for the basic symbol to include common shares only. Year-to-date mutual fund returns are calculated on a monthly basis by Value Line and posted mid-month.
*Oil Data in Market Overview is Brent Crude Pricing
'); TSCM.ads.AdPlacerx.sz = "728x90"; TSCM.ads.AdPlacerx.resetTargets(); TSCM.ads.AdPlacerx.calltype = "adj"; TSCM.ads.AdPlacerx.includeDcopt = true; TSCM.ads.AdPlacerx.additionalTargeting = ";;storytype=opinion;kval=opinion"; TSCM.ads.AdPlacerx.writeTag(); TSCM.ads.AdPlacerx.sz = "336x280,336x850,300x250,468x648"; TSCM.ads.AdPlacerx.resetTargets(); TSCM.ads.AdPlacerx.calltype = "adj"; TSCM.ads.AdPlacerx.additionalTargeting = ";;storytype=opinion;kval=opinion;;storytype=opinion;kval=opinion"; TSCM.ads.AdPlacerx.writeTag(); TSCM.ads.AdPlacerx.sz="336x280,300x250"; TSCM.ads.AdPlacerx.resetTargets(); TSCM.ads.AdPlacerx.setSite("remnant.thestreet.com"); TSCM.ads.AdPlacerx.additionalTargeting=";box=second"; TSCM.ads.AdPlacerx.calltype="adj"; TSCM.ads.AdPlacerx.writeTag(); /** * function wrapper that places all DART ads using TSCM.ads.positionToPlaceholder * if positionToPlaceholder can't find the elements specified, it just returns and is ready for the next call */ TSCM.ads.placeLazyLoadingAds = function() { // DART 1 (banner) TSCM.ads.positionToPlaceholder({ ad: 'ad728x90', placeholder: 'bannerContainer', flexibleHeight: false }); //DART 2 TSCM.ads.positionToPlaceholder({ ad: 'customUnit', placeholder: 'cauContainer', flexibleHeight: true }); //DART 3 TSCM.ads.positionToPlaceholder({ ad: 'boxAd', placeholder: 'boxAdContainer', flexibleHeight: true }); //DART 4 TSCM.ads.positionToPlaceholder({ ad: 'secondBoxAd', placeholder: 'secondBoxAdContainer', flexibleHeight: false }); }; TSCM.ads.placeLazyLoadingAds() window.setTimeout(function() { TSCM.ads.placeLazyLoadingAds() }, 2000); window.onresize = function() { setTimeout(function() { TSCM.ads.placeLazyLoadingAds(); }, 1000); }; BF_BB_DATA = null; (function( ){ document.write(''); var sid="76IOF7"; var c=""; var b=""; BF_BB_SCRIPT=document.createElement('script'); BF_BB_SCRIPT.type="text/javascript"; BF_BB_SRC="http://buzzbox.buzzfeed.com/wd/BuzzBox?sid=" + sid + c + b + '&it=1&cb=' + (new Date()).getTime(); setTimeout(function() { document.getElementById('BF_BUZZBOX').appendChild(BF_BB_SCRIPT); BF_BB_SCRIPT.src=BF_BB_SRC; },1); })();After the Bell
Before the Bell
Booyah! Newsletter
ETF Daily
Midday Bell
TSC Top Ten Stories Newsletter
Winners & Losers
TheStreet Mobile Edition
Take Our Tour
Connect with TheStreet
Read Full Article »