New York, New York (PressExposure) March 08, 2010 -- Asia-based boutique brokerage, "Mann International", has told its clients in no uncertain terms that it believes that the US recovery is being funded by the government and that they should not be influenced by over-optimistic assessments of the economy's performance.
Analysts at the firm suggest that the US government has replaced the consumer as the engine of what it calls "counterfeit growth". They cite the fact that over the last two decades, the US government, via its various departments, purchased some 4.4% of America's durable goods but recent figures show that this has grown to over 8%.
"Mann International" says that the government is growing in terms of employees both directly and indirectly. One in four workers in the US is employed by the government or by companies with government contracts.
"Mann International" said that the government would need to find money for another stimulus package if growth was to be maintained and sources close to the firm said that clients are being advised to wait for the anticipated correction in equity values before committing funds for longer term investment.