Thread: The Sham Recovery
#1 The Sham Recovery03-13-2010, 01:05 PM
This one makes me laugh at what hypocrites the DUmmies are.
AllentownJake (1000+ posts) Sat Mar-13-10 08:57 AM
Original message The Sham Recover
Are we finally in a recovery? Who's "we," kemosabe? Big global companies, Wall Street, and high-income Americans who hold their savings in financial instruments are clearly doing better. As to the rest of us -- small businesses along Main Streets, and middle and lower-income Americans -- forget it.
Business cheerleaders naturally want to emphasize the positive. They assume the economy runs on optimism and that if average consumers think the economy is getting better, they'll empty their wallets more readily and -- presto! -- the economy will get better. The cheerleaders fail to understand that regardless of how people feel, they won't spend if they don't have the money.
The US economy grew at a 5.9 percent annual rate in the fourth quarter of 2009. That sounds good until you realize GDP figures are badly distorted by structural changes in the economy. For example, part of the increase is due to rising health care costs. When WellPoint ratchets up premiums, that enlarges the GDP. But you'd have to be out of your mind to consider this evidence of a recovery.
Part of the perceived growth in GDP is due to rising government expenditures. But this is smoke and mirrors. The stimulus is reaching its peak and will be smaller in months to come. And a bigger federal debt eventually has to be repaid.
I wonder what things would look like if Robert Reich was sitting in the Treasury department right now.
Robert Reich under the bus in 3---2----1
Now this is good!!!
MineralMan (1000+ posts) Sat Mar-13-10 09:03 AM
Response to Original message
1. Are you leading the cheers for economic collapse? Optimism also drives economics in this country, but in a good way. Pessimism acts differently.
There's no denying that the economy has a lot of problems, but I'm still encouraging optimism. A collapse isn't going to help anyone.
want to be optimistic???May the FORCE be with you!
03-13-2010, 01:23 PM
- Join Date
- May 2008
The dummies need a heaping serving of Marc Faber or Howard Ruff. Although I don't believe all the doom and gloom in totality, unemployment, spending, revenues, deficits are going to make a recovery difficult.
03-13-2010, 01:26 PM
Yeah, and we all remember the Left and their media decrying a drop in the unemployment rate to below 5% as not good enough. What a bunch of morons."Our president delivered his State of the Union message to Congress. That is one of the things his contract calls for -- to tell congress the condition of the country. This message, as I say, is to Congress. The rest of the people know the condition of the country, for they live in it, but Congress has no idea what is going on in America, so the president has to tell 'em." ~ Will Rogers
03-15-2010, 09:24 AM
<chip, chip, chip...>Sounds like someone is having their named chiseled onto a piece of granite. Criticism of "the One" shall not be tolerated. He should know better.
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