Wednesday, June 1, 2011 – 01:30 p.m.
We here at InlandPolitics.com have been saying it for months.
The economy isn’t really so hot as the government would like everyone to believe.
It’s a very simple premise: Can you force people to spend money they don’t have no matter how much spinning you do?
The answer: No.
The economy sucks folks!
It doesn’t take a rocket scientist to figure out that the situation is grim.
Buy stocks now. Yeah right.
Interest rates just hit new six-month lows today, gold is climbing, home sales and prices are in the toilet, oil remains at the $100 per barrel level and job creation is falling off. All while the U.S. Federal Reserve keeps printing money.
Did we leave anything out?
The Fed may as well go out and hand every household a hundred grand and get it over with. Because that’s basically what it will take to keep the situation at bay.
But there’s that pesky U.S. debt, currently pegged at $14.4 trillion, hanging over our heads.
Get the picture?
It’s going to get much worse before it gets better.