VooDoo Economics

The Times ran an editorial this morning...you can go read it here.  Oh so much hand wringing.  I watched all the CNBC stuff yesterday and last night.  All the economists are doom and gloom about a great depression. All the Wall Street rah rah guys are on the ceiling about corporate profits. Buy baby buy.

Sometime, somewhere, some place we are going to figure out that profits don't mean jobs. Profits mean profits and shareholder dividends and big cheese salaries and bonuses. They do not mean jobs. They perhaps did some time back when you needed to expand to get more profits. Not now.

Our industry is fragile and not at all innovative.  There are no new railroads to build, roads to build, anything much to build but we want to create jobs that put that infrastructure to work. A trillion dollars later it isn't happening and it isn't going to happen.  I wish I had better news.