Bang! Zoom! Straight to the Moon!

On hearing the latest jobs report Larry Summers told the Financial Times "we are now moving toward escape velocity."  The Great Recession is rapidly receding in the rear-view window.  Whether we reach the moon, fall out of orbit, or end up lost in space remains to be seen though.  "One of these Days America . . . " yes, we will find out.

After the bang of money creation we are zooming.  Stocks are up 70% in a year, gold, federal debt, interest rates, all seem to be nearing "escape velocity".  The boosters have ignited, the rockets are thundering, and off we go, pushing rapidly into the deep black depths (or is it debts) of space.

163,000 people found jobs last month, 48,000 of them as census counters.  Bill Bonner comments "If you could create wealth by having people count one another, perhaps we could create even more wealth by having them count the stars in the heavens." Put em to work in  Montana, no light pollution.

Alice never did get the ". . . Pow! Right in the Kisser!".  Let's hope Larry Summers is so kind.

Note: The "Bang! Zoom! . . .", "One of these days ...", and "Pow! Right in the Kisser!" phrases are paraphrased from "The Honeymooners", a 1955 TV sitcom starring Jackie Gleason as Ralph and Audrey Meadows as Alice.   I took the liberty of substituting "America" for "Alice".