Quote from Bigpipn:
If the gov't stands back and allows the market do its thing, yes, I agree.
Consumer spending shouldn't be seen as a sign of the contraction ending. We have a phony economy with 60% of our GDP based on consumer spending. Sure we can buy all these shitty Chinese goods and reduced automobiles, but at the end of the day we're not producing anything from it. This economy will not turn around until we see a major shift of our workforce out of the service sector and into the manufacturing sector.
We all know the gov't is only going to make this worse.