Al, > You'd think that we'd at least get a vibrant economy in exchange for W doubling the national debt in little over 6 years...
A constantly growing GDP and unemployment below 5% isn't a "vibrant economy"?
Oh yeah, I forgot. Europe's 10% unemployment is better ...
Let's look at the facts......yeah, unemployment has been below 5% for the past year even as the economy fails to produce the 150k jobs per month all economists agree is the amount required to meet the needs of an expanding workforce. How can that be, Ten? If the economy produces only 90k jobs each month, meaning there is a shortfall of 60k jobs, where are those 60k people who can't get jobs? Certainly they are not showing up in the unemployment rate. You explain it to us.
Meanwhile, the GDP does grow....why? Firms are selling their services and products to emerging nations outside the US that are doing very well. Generally, they report that economic conditions within the US stink.
A recent survey shows that nearly 60% of Americans believe we are in recession. Why? If the economy is doing so well, why do so many Americans believe conditions are recessionary even when statistics confirm that we are not in a recession. It doesn't help that oil is up to $90 per barrel in no small part due to Bush.
Now let's look at the charts of some financial stocks:
clearstation.etrade.com
clearstation.etrade.com
clearstation.etrade.com
Do you think these look like healthy charts? And don't make me pull up the housing charts....is it possible a stock can be a negative number?
Today's unemployment numbers have inched up again to 346k. Once we hit 370k, we're in recession. Consumer Confidence is way below 100. Leading indicators are falling.
This is the part that's so laughable. Normally, in a presidential election year, the party that controls the WH wants to make sure the economy is on good footing. Since the Republicans control the FOMC, you would think the Feds[Republicans] would do everything in their power to keep us out of recession. Instead Bernanke, Bush's appointee, is doing everything that will insure we will be in recession by next November. The fortunes of the GOP, which have plummeted under Bush, will only drop further as recession grips the land. Its as if the GOP has a death wish.
Now maybe you might understand why I consider Bush and the GOP to be the embodiment of the anti Christ movement in this country. Either that, or they are the most incompetent people EVER to get into power. You take your pick.
ABB |
