The people are the strength of a country. They are the strong backs and backbone of it's economy. There will be no recovery in the economy without them. Period.

No amount of quantitative easing, bank bailouts, insurance company handouts, tax incentives or clunker puchases will work until the people are on their economic feet again.

This is just not going to happen anytime soon when you consider;

• The high unemployment (officially at almost 10%) with even higher numbers expected to come.
• Real earned income presently 16% lower than in 1972 levels.
• Credit card debt burden at 133% of earnings.
• Real household debt per person at $78,000 each.
• Consumer household debt at 98% of GDP.
• Government transfer payments at 16.4% of personal income.
• Net housing wealth now at 1952 levels.
• Housing market decline of 30% with a further drop of 20% expected.
• Mortgage defaults presently at more than 1 in 10 and expected to rise until peaking late 2011 early 2012.
• Housing market asset value loss of $30 trillion of paper wealth.
• Home owner equity as a percent of GDP now at 1952 level.
• Increasing prices for food and energy.