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Job Creation via Jobless Benefits and Fed Money Printing : Signs of a Modern Day Depression

Posted by Gonzalo Schwarz
November 30, 2012

by Tim Iacono

When reading Wall Street Journal stories such as CBO: Unemployment Extension Would Add 300,000 Jobs, it’s easy to come away with the impression that the economic world we live in is radically different than it was just a few years ago. And, now almost three-and-a-half years after the Great Recession officially ended in 2009, when perusing Wall Street Journal reports such as Fed Stimulus Likely in 2013, it’s not hard to conclude that we are living in a modern day depression.

The times are surely different than 80 years ago, one of the biggest differences being how the federal government has responded to this economic crisis, and therein lies a frightening possibility for our collective future for anyone who thinks the malinvestment that developed during another historic asset bubble must be purged before sound economic growth can continue – if the Great Depression lasted a decade with far less government support, how long might the current slowdown persist, given that large swaths of the economy are being propped up by massive deficit spending and money printing in Washington? …

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image: flickr.com/mrvelocipede