Posted on 08/16/2010 9:16:49 PM PDT by neverdem
As they used to say on Sesame Street, "One of these things is not like the others, one of these things is not the same." The current recession "is not like the others." At 33 months it is already more than three times longer than the average length of the other ten recessions we've had since WWII. There are no clear signs it will be ending anytime soon. Glimmers of a recovery appear from time to time, but most indicators remain depressed and many are worsening. On balance, the outlook is more negative than positive. Not since the Great Depression have we had two consecutive years of unemployment in excess of nine percent. What we're seeing is economic stagnation.
Something else about the current situation that "is not like the others" is the defeatism of those in charge. President Obama's economic advisors, Tim Geithner and Larry Summers specifically, have been warning that unemployment could remain painfully high for years to come. Vice President Biden has declared that we may never regain the eight million jobs lost over the past two years...
--snip--
The president is losing the support of even his most ardent supporters. Arianna Huffington, for example, said recently, "The president put all his trust in the wrong economic team -- an economic team that didn't understand what was happening."
The injuries done by the Obama administration are painful but not fatal. The U.S. economy has fundamental strengths that will allow it to recover eventually in spite of the damage done by the Obama administration.
More and more, voters are recognizing that electing Barak Obama president was a terrible mistake. In November they will have opportunities to begin reversing that mistake and start undoing the damage. As Sarah Palin said recently, "From my house I can see November."
(Excerpt) Read more at spectator.org ...
......We’re screwed with these knuckleheads in the White House trying Keynesian stimuli......
The keynesian stimuli are the figleaf covering the raid on the treasury
The current exercise is robbery, pure and simple.
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