By now we all have heard the a/hole of the century is dead…..bet you are asking…how did we do it?
USA Today tells it…..
A big win in the war on terror…….who will, if anyone, will step up to replace good old OBL….but first, I want to see the body….we have been fooled before…..
From the VOMITORIUM
Who will be claiming responsibility for the slowdown in the economy, slowed to 1.8%, below the expectations of all the economic wiz kids in Washington….but it is still growth, just at a slower pace….we will hear the experts say on the tube….look, the will say, inflation is down or holding steady……good one….that is because they do NOT figure in gas prices of food….if you throw that in then our inflation is about to run wild….every quarter we hear how well the economy is doing….then explain to the millions at are unemployed…..we hear that the markets are doing well, so good that we have not seen growth like that since 2008….then explain it to the people who have lost their homes in the last month…..go ahead I will pause here for your explanation………(waiting…..waiting……)
Wait! They have an answer!
The first-quarter increase reflected growth in personal consumption expenditures, private inventory investment, exports and nonresidential fixed investment. Federal, state and local government spending fell. Imports, which negatively affect the calculation of GDP, increased.
See told you there was good news (sarcasm, in case you missed it)……
But there are few questions that need to be asked of Bernanke or Geithner or whatever Wall St. insider is at the helm of our economy…… American labor has issued a couple of questions they would like to be answered….and I think they have some excellent questions….
1. Where are the jobs and why are the implications of the Fed’s actions so far not leading to sufficient job creation?2. How is the Fed going to respond to continuing weak economic growth?
3. How is the Fed taking into account in its decisions the powerful headwinds facing the economy, including falling housing prices, rising energy prices and large-scale layoffs and wage freezes for public employees?
4. How will the Fed’s policies address the inadequate public investment in the United States?
5. What is the Fed’s plan for closing the gap between economic growth and job creation? Between productivity growth and wage stagnation?
6. Can we have a healthy economy until we deal with rising inequality?
7. Is there anything the Fed can do to revive our economy if government at every level persists in irresponsible, job-destroying budget cuts at a time of economic weakness?
We will know just how f*cked we are…these questions will Not be asked by anyone in the media….and there will be NO answered offered up by the government….so we will continue to be subjects of the elaborate con job that is economic recovery……
And the disconnect does not stop there…..a recent poll shows that majority of the people feel that the economy is going badly…..the disconnect is that the media reports on macro-economics and Main street lives with micro-economics….and Main Street could give 2 shakes in Hell about the debt…..their personal debt concerns them…food prices concerns them…..being unemployed concerns them…..macro-economics concerns them not…they do not care that Samuelson basically invented the study of the macro field…they do not care…their only concern is their family and their livelihood……