Economics and Investing:

The BHO administration seems bent on paving their way out of the recession, with $20 billion in new road and bridge building contracts. But I’m dubious about how efficacious this will be in creating permanent jobs, and boosting economy. This is all just sinking us (collectively) deeper in debt. Take a look at Japan’s massive road building program in the1990s. It certainly didn’t buy them an economic recovery. How can the BHO administration expect anything different?

Chad flagged this: Is Washington’s tax exemption on bullion a gold mine? [JWR Adds: As the majority of the 50 States get increasingly desperate for revenue, we can expect to see similar headlines pop up soon.]

GG sent this: Rash of retirements pushes Social Security to brink.

The Other Jim R. sent this: Italy Seizes Bank of America, Dexia Assets in Derivatives Probe

Items from The Economatrix:

Public Employees: Rolling in Dough

In Praise of Mammoth Deficits

What’s a College Degree Really Worth?

Baltic Dry Index Collapses 40%, Signal Further Worldwide Economic Weakness

Mexican GDP Down 6.8% in 2009, Worst in 30 Years

Crisis Looms in Japan as its Economy Slowly Melts

Stocks Trade Mixed as European Debt Woes Remain

Stock Futures Climb Ahead of Opening

EU Searches for Way Out of Debt Crisis

Oil Above $72 on Weakening Dollar

European Stocks Up Cautiously on Hopes for Greece