Wednesday, July 14, 2010

The mattress economy

The conservative Michael Barone calls Obamaeconomics "the mattress economy". And I say trickle-down is sleeping in a bunk bed.

Conservative analyst,writer Michael Barone paints a very dark portrait of the current economy and recovery.
He accuses Obama and the WH of creating a mattress economy,

"Government policies designed to stimulate the economy seem to be having the opposite effect. Consumers aren't buying, businesses aren't hiring, and those fortunate enough to have some cash on hand don't seem to be investing.

I call it the mattress economy. People seem to be following this investment strategy: 1) Go to Mattress Discounters and buy the biggest mattress you can find. 2) Take it home, and stuff all your money in it. 3) Lie down, and get some rest..."

I don't agree.
The Great Recession continues unabated.
But even as Barone admits, the private corporate sector is sitting on $2 trillion in cash.
Reports on corporate earnings this week will show robust profits.
So there is something going on,but I don't blame Obama.
The POTUS, and his conservative economic team, have a bunk bed strategy.
Build the top bunk with juicy greenbacks,bailouts to the banks and Detroit etc., and let the bottom bunk,the middle and lower class, scramble for scraps.

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