Fed Maintains Target Interest Rate, Markets Act Like it’s the First Time They’ve Heard That, Mike Vitiello is Face of Sleeplessness/Joblessness

Gold shot up, the dollar index shot down, and somewhere, Scott Baio staved off foreclosure for another 30 days.  As I astutely pointed out yesterday on the Dylan Ratigan Show, the Gub’ment seems to be basing its approach to recovery on the ol’ trickle-down mechanism.  Unfortunately, that only works when people aren’t coming off of a stern finger-wagging and “See what happens when you don’t save??!” lecture.  Right now, Johnny Small-business Owner is playing it safe, worrying more about staying afloat than bringing other onto his lifeboat.  Obviously, anytime you go through a financial clusterfuck like the one we experienced over the past few years, the natural reaction is to become cautious.  Couple that with the fact that we’ve basically concluded that the shitstorm resulted from everyone in the damn country behaving recklessly to begin with, and you can bet your bottom Yuan the result is going to be a doubley-cautious fear of investing in growth, which has manifested itself in the form of 9% unemployment.

The only way the businesses who have cash are putting it to work right now is by acquiring smaller fish.  And that’s NOT GOOD for the unemployment picture.  It certainly contributes in the way of redundancy-layoffs but also widens the gap between the huge “too fat to fish” mega-corps and American small business – the supposed engine of job-growth.  Think the New York Yankees, whose above average cash flow affords them the strategy of routinely paying-up for low-risk high caliber talent instead of doing their own R&D in the farm system like the Marlins.   What we need is to jump out of this thing like J-Becks and the NL did in 2003 – with some grassroots innovation that knocked the high and mighty Yanks out of their ivory tower.  Now if we could only come up with ideas that don’t involve taking jobs away from us monkeys and giving em to bloodthirsty, illegal Japanese immigrant robots.  THEY DURKA DAAURRR!!

PS – Yes, that’s a Yellow Submarine tie.

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One Response

  1. What the eff? You were on the teevee?

    Major props for the tie btw.

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