Tighten Your Belts, Americans

Japan's Lost Decade:
http://en.wikipedia.org/wiki/Lost_Decade_%28Japan%29
Note the 2nd-to-last paragraph of the introduction, stating that 1/3 of Japan's workforce are temporary workers. This is a trend similar to America, where some estimates put freelancers, contractors, & temporary workers at 20% of our workforce (& we've only just begun down Japan's path).

The Wall Street Journal had a telling article on how Japan's government destroyed their booming economy in 1997 by raising the national sales tax (they still haven't recovered from that mistake):
"Japan's Economic Miscues Offer Lessons on Policy"
http://topics.wsj.com/article/SB10001424052748703940904575395550091383166.html?mod=WSJ_comments_MoreIn_Asia

This is relevant to the Democrats in Washington, DC, who think they can continue their spending spree & pay for it w/ higher taxes. I believe that if they succeed in raising taxes on the rich & effectively on others through such measures as forced health insurance coverage, we are in for not merely a double dip, but a deflated decade or more. Strap in & get ready for a bumpy ride.

Waiting for Less Suicidal Tendencies

Key phrase in the following Ahead of the Tape (Kelly Evans, WSJ 7.2.10) is "another month of anemic gains":
http://online.wsj.com/article/SB10001424052748704525704575341313711100000.html
(We've had several anemic months of "recovery" after losing 8 million jobs.)

I think private-sector employers are just waiting for the governments (fed, state, & local) to stop plans to spend & tax & regulate them into oblivion before taking the risk of buying new equipment, expanding production capacity, & expanding their human resources. I eagerly await that day, too (having just exited a Census job myself).