Employment report came out terrible.M3 is collapsing. There seems to be no growth in the private sectors for the next several years. I think this is mainly due to HUGE policy failure of Obama administration. The government took easy way out and thought they can spend out of recession to jump start economy. It didn't happen. The credit driven economy cannot sustain no matter how much debt federal government is willing to take. This is explained by plunge in M3 number. The right solution, as it is apparent to me now, is to let business and banks fail so the system can purge all bad debts. New credit can be extended again and economy can grow again. Sure it is painful. But there is old china saying " Short term pain is better than long term pain"