The stock market is testing itself against the resolve of motivated investors vs. the fear of more impending shoes to drop. Personally, I think further growth in the market is not justified, and will act as an artificial signal that “all is well again” when actually it is not.

Job creation, job creation, job creation. It’s not happening on the level needed to support the greater economy. My concern is that small to large businesses are going to be bearing the brunt, increasingly moreso, as the Obama administration continues to focus on health care initiatives, social security, and other entitlement programs. Please understand me when I say that these are all important and worthy programs deserving of attention. No doubt.

But America is not in the position, at this moment in time, to be commiting itself long term to major handouts and expenditures that we clearly cannot yet afford. The daily news from the White House has me feeling like they’re getting the cart before the horse. Job creation must lead. Personal initiative & independence must lead. Extending unemployment benefits is a two edge sword, and if we are not careful, can deepen our debt substantially. Handouts are a short-term fix for a long term problem.

Private corporate America, properly incentivized but carefully regulated, is the only way that we will see a lasting resurgence in the greater economy. New job creation is the result of companies having the capital to expand. Obama inherited a mess which makes his job a hard one. But I am detecting that the administration’s direction is perhaps being oversteered by the typical fundamental democratic politics.

Pockets of the economy are setting themselves for a definite positive push forward, but they will be bridled & limited if big business is not properly supported by administration policies. Premium domain names, online services, and online consumer product sales will likely remain somewhat in the forefront of whatever internet growth we experience as the economy positions itself for the next move up. PPC (pay per click) income will follow the larger economy as it is specifically tied to company advertising budgets. Don’t expect much improvement here.

Consequently, domainers who are heavily dependent upon PPC revenue will continue to see their income a modest fraction of what it was just 18 months ago. From an investment perspective, PPC based domain purchases can still be profitable, but heavy reliance on PPC earnings will lead investors toward more organically strong domains, i.e. one and two word natural generics. These are the cream that rise to the top, particularly during lean times.

Internet Domains