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Payroll tax increases cuts $100 billion from GDP. It does so when stimulus is needed. Consumer sentiment and spending are weak.
Expect sequestered/largely discretionary $1.2 trillion cuts by end of March. Stiff 10 - 20% health insurance premium hikes impact healthcare spending.
Business spending spiked in Q IV. It did so ahead of expected tax law changes. Expect it to slow in Q I. Manufacturing is weak. Housing remains troubled. So is America's economy. Odds favor double-dip trouble.
Five years after economic collapse, virtually zero growth was achieved. Wall Street was bailed out. Main Street was sold out. Ellen Brown does some of the best financial writing.
Last September, she said America's economy needs "a good dose of 'aggregate demand.' " It needs money put in people's pockets.
QE for Wall Street won't jumpstart the economy. It won't "reduce unemployment." It's stuck at 23%. It's the highest since Great Depression levels.
QE puts no "money in the pockets of consumers." It doesn't "reflate the money supply."
"(S)ignificantly lower interest rates for homeowners" aren't achieved. Other consumer purchases don't benefit.
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