It is time for a reality check!

How do we go from the edge of economic collapse to the eve of an economic recovery? Isn’t there something in between? Or is it just that simple if we need only “wish” it so?

What happened to all these toxic assets? Did they just evaporate? With foreclosures STILL occurring, unemployment STILL high, housing values STILL falling I’d think the prospects for recovery are DOWN, not UP. And what about credit cards, other consumer loans, commercial real estate? Did those THREATS correct themselves?

Why are we focused on diversionary things like executive pay? Why have we not thrown out some of these CEOs of large financials? Was this meltdown NOT their fault? Or are we just in a forgiving mood? So we recapitalize their companies believing they NOW know better.

Is it a GIVEN that GM and Chrysler are healed, that all is well, they will rebound with little to no negative residual effects to our economy?

And I am relieved that throwing ALL this money at problems will turn this economy around, all the time ignoring our long neglected problems, ie energy dependence, unaffordable entitlements, spiking healthcare, surging leverage across all market segments (individual, public, business), lagging education, loss of manufacturing, balance of trade deficits, etc, etc.

While I believe in the benefits of positive thinking, confidence and trust I, for one, am offended that our leadership sees us as simplistic, gullible fools. Kick in the b*** action by Congress is what is needed. How are average Americans going to get the idea we have serious structural problems if Congress keeps blowing smoke up our backside?

This is the ultimate con job!! If our leadership can convince us all is well, and we accelerate our spending, yes, we can stimulate our economy BUT for how long and at what long term cost????

Related Posts:

• Credit card, Commercial Real Estate, corporate bonds all about to fall off the cliff.
• If you want a simple snapshot of what’s going on here, that’s different than before, listen up…
• The economy is collapsing in the US and globally deeper into malaise everywhere.
• The market is calling for a rough 2nd half to 2010.
• Congress Uneasy About Commercial Real Estate

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