President Obama's Lack of Fiscal Intellect cannot be Solved by Chairman Bernanke; Concerns Regarding a Bottom Mount...

The trailing weekly unemployment number of 570K confirms POTC's feelings; a free-market economy cannot recover without job growth. The stubborn spike in unemployment remains a major concern in the short and medium term (1 - 5 years): http://www.briefing.com/Investor/Public/Calendars/EconomicReleases/claims.htm .

With so many complicated moving parts at work (micro and macro), we do not think this is an unemployment bubble that will suddenly burst, as job growth is 1,000X more complicated to solve than last year's oil spike.

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Unemployment could continue to trend higher over President Obama's term, unless he tweaks his monarch like fiscal policies. We are upset that Chairman Bernanke did not decline a second term, as no monetary policy can be a panacea for a hemorrhaging fiscal policy. The imbalance between fiscal and monetary policy today favors a larger government and smaller private sector. What do President Obama's advisors not understand about our circle of concern?

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Taxes on businesses, individuals, and investments should be cut in half for a 6 - 12 month period. POTC believes that would meaningfully spark job growth, innovation, and a strong greenback. Yet this administration is considering allowing President Bush's tax cuts to expire next year.

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We find it unprofessional that most cable talking heads have stopped using the word 'bottom' lately, as we think this is exactly when the word should begin being debated. Bottoms are never marked by smooth "V's" or "U's" without running into any unfortunate left field debris, i.e. global currency issues, unfriendly legislation, terrorism. POTC strongly urges readers to consider raising your cash allocation percentage IF the S&P breaks below the 990 level.

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We believe the changes President Obama has initiated have and will continue to bear no fruit due to his flawed fiscal policies. Whether "cash for clunkers" or the burgeoning budget deficit, we are unimpressed and give President Obama a D+. We do not see any safe fundamental foundational floor below us short term, only a growing number of unforeseen events that'll fill in the circle of concern before any true free-market bottom is in...