So the GDP rose 3.5%! Wallstreet rose 200points Thursday! Businesses are buying more equipment! All good news! Are you feeling good about the recovery?

Cash for Clunkers and $8000 Tax credit on home purchases are mostly responsible for the rise in GDP.. Obama's  stimulus money is beginning to work.

And that's all it is. When retail sales don't appear for the Holidays, retailers will cut more jobs after January 1, 2010.  Time to stop holding your breath? Not quite yet.

Many are saying this will be a "jobless recovery" like the last time.

Tonight, on Bill Moyer's Journal, James K. Galbraith, author of Predator State, gave his view on the recovery and jobs:

"Let older people, you know, some of them, anyway, a fair number of them, pass to retirement comfortably, a little earlier than they otherwise would. I mean, you've got to think about every possible way to make getting through this crisis tolerable for the population. Recognizing that a year, even two years from now, we are not going to be through it. The official forecasts say we're not going to go back to five percent unemployment till 2014."

Full story by this brilliant man at:

http://www.pbs.org/moyers/journal/10302009/watch.html