The BHO administration seems bent on paving their way out of the recession [1], 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 [2] 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? [3] [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 [4].
The Other Jim R. sent this: Italy Seizes Bank of America, Dexia Assets in Derivatives Probe [5]
Items from The Economatrix:
Public Employees: Rolling in Dough [6]
In Praise of Mammoth Deficits [7]
What’s a College Degree Really Worth? [8]
Baltic Dry Index Collapses 40%, Signal Further Worldwide Economic Weakness [9]
Mexican GDP Down 6.8% in 2009, Worst in 30 Years [10]
Crisis Looms in Japan as its Economy Slowly Melts [11]
Stocks Trade Mixed as European Debt Woes Remain [12]
Stock Futures Climb Ahead of Opening [13]
EU Searches for Way Out of Debt Crisis [14]