So the handwriting is on the wall: With midterm Congressional elections only seven, short months away, any politician who votes for more of the same is practically begging to be thrown out of office.
That means the days of Washington bailouts and stimulus are numbered. And that, in turn, means that the momentary economic stability which that spending bought will soon come to an end.
VOLATILITY ANALYSIS CONFIRMS IT
Right now, the volatility indicators professional traders rely on -- in the bond market ... in currencies and more -- are signaling that the economic stability and investment trends most investors have depended on for the last year or so are coming to an end.
The smart money is now beginning to bet on major directional shifts in all major asset classes -- and on the recovery unraveling before our very eyes.
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Writing at OpEdNews, former assistant secretary of the treasury and Wall Street Journal editor Paul Craig Roberts concurs: our economy is going down:
An economy that moves its high productivity, high value-added jobs offshore is going nowhere but down. Except for the super-rich, there has been no growth in people's incomes for a decade. To substitute for the missing income growth, consumers took on more debt. The growth in consumer debt kept the economy going. However, most consumers have now reached their maximum debt load, and millions went beyond their limit, resulting in foreclosures and lost homes.
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