This is the way the world ends
This is the way the world ends
This is the way the world ends
Not with a bang but a whimper
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This is the way the world ends
This is the way the world ends
Not with a bang but a whimper
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Posted on 12/29/2010 11:25:53 AM PST by JohnRLott
All the economic numbers being thrown around as the year draws to a close are bewildering. Some are positive, some are negative, but for many this week it is hard to get an overall feel for how well the economy is doing.
On the upside, GDP is rising, though slowly, and economists have raised their forecasts for next year's economic growth. Retail sales this holiday season increased by 5.5 percent over last year. Inflation has remained low, just 1.1 percent over the last year. And the stock market has rebounded.
Yet, there are major negatives. Most seriously, the very high and long-lingering unemployment rate. Unemployment is not only rising, but it has set a post-World War II record with unemployment remaining at least at 9.5 percent or higher for 18 months.
Adding to job-seekers' problems, the new employment consists almost exclusively of temporary service sector jobs, a poor replacement for the lost permanent ones. Home prices also fell again last month. Yale Professor Robert Shiller who collects these data, warned on Tuesday: The outlook has become steadily more pessimistic over the last few months." Huge deficits at the federal and state level add to long-run concerns.
So what do all these numbers mean for the average American? New Consumer Confidence numbers were released on Tuesday and they aren't encouraging, . . .
(Excerpt) Read more at foxnews.com ...
Don’t worry... We’ve got Obama.
And 90% of that temporary help will be back on the street 1st week of January.
L
That's what worries us.
But, but look at all the crap we bought in December!!!!
Obama is now beginning to realize that wealth is destroyed when entrepreneurs walk away from their job creating businesses.
“Americans gloomy about the economy”
Just wait until they find out that the unemployment figures are much worse than the ones spouted by the MSM and administration.
Just wait until they find out that the gas prices going up will cause more unemployment and higher prices at the stores.
They ain’t seen “gloomy” yet.
So what do all these numbers mean for the average American? New Consumer Confidence numbers were released on Tuesday and they aren’t encouraging, showing that consumer confidence fell in December from 54.3 to 52.5.
But how bad is a score of 52.5? A value of less than 90 for two months in a row points to signs of a recession. And since the index started being issued in 1967 it has averaged 95. In the years since then that the survey has been conducted, 95 percent of the time consumer confidence has been higher than it is now. And a third of those lower scores have occurred during the current recovery.
Obama has unequivocally telegraphed his intention to destroy our economy to achieve some type of utopian redistribution of wealth-what’s not to be depressed about?
Hey no worries. Plenty of freepers say that there are TONS of jobs out there just waiting for you to apply! You just have to major in the sciences.
Oh wait, those are outsourced to china and india...never mind.
“The current recovery” will be seen as a bump in the road in the middle of Great Depression II.
The only question is when the politicians plan on coming clean on the true state of the economy.
My prediction: the inauguration of a new President in January, 2013.
Until then—the lies continue.
A true joy.
“Just wait until they find out that the unemployment figures are much worse than the ones spouted by the MSM and administration.”
They already know that, hence the shelling the Dems took in November. Nobody (even their supporters) believes anything these Dems or their media mouthpieces say; the truth is too obvious to miss.
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