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Mortimer Zuckerman: The Great Recession Has Been Followed by the Grand Illusion
WSJ ^ | 3/25/2013 | Zuckerman

Posted on 03/26/2013 3:33:37 AM PDT by pieceofthepuzzle

The Great Recession is an apt name for America's current stagnation, but the present phase might also be called the Grand Illusion—because the happy talk and statistics that go with it, especially regarding jobs, give a rosier picture than the facts justify.

The country isn't really advancing. By comparison with earlier recessions, it is going backward. Despite the most stimulative fiscal policy in American history and a trillion-dollar expansion to the money supply, the economy over the last three years has been declining.

(Excerpt) Read more at online.wsj.com ...


TOPICS: Business/Economy; News/Current Events
KEYWORDS: economy; jobs; recession
Didn't see this posted. Essentially says what we've all been thinking.
1 posted on 03/26/2013 3:33:38 AM PDT by pieceofthepuzzle
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To: pieceofthepuzzle

Who did Mort vote for in 2008?


2 posted on 03/26/2013 3:35:07 AM PDT by Cowboy Bob (Democrats: Robbing Peter to buy Paul's vote.)
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To: Cowboy Bob

Leftist MortZ is beginning to see the hell that is coming.

Interesting timing considering the govt stealing money in Cyprus - stay tuned for the sequel with comrade hussein ubama


3 posted on 03/26/2013 3:41:54 AM PDT by newfreep (Breitbart sent me...)
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To: pieceofthepuzzle

What we’ve all been thinking and what we all KNEW would happen.

But I don’t think any of us knew we’d get two terms of it.

The one that still baffles me to this day is the lack of outrage about high gas prices. Grand illusion or not, that is one thing they can’t hide and yet here we are.


4 posted on 03/26/2013 3:58:17 AM PDT by CommieCutter
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To: pieceofthepuzzle
>>> a Canadian-born American real estate tycoon and media proprietor (from Wiki)

A man (who ‘wrote an Obama’s campaign speech’) likes to pretend independent and left-leaning.

He must feel himself pretty secure, immuned from Obama’s 1% rhetorics, and now trying to paper over his thin behind over the little people.

I spit in his face.

5 posted on 03/26/2013 4:01:51 AM PDT by Sir Napsalot (Pravda + Useful Idiots = CCCP; JournOList + Useful Idiots = DopeyChangey!)
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To: CommieCutter
The one that still baffles me to this day is the lack of outrage about high gas prices. Grand illusion or not, that is one thing they can’t hide and yet here we are.

The mainstream media works hard to make sure Americans have difficulty gaining perspective and connecting the dots.

Inflation is everywhere and bank interest rates on savings are less than 1%. Retirees on fixed incomes are taking a financial beating, but the media ignores the story.

There were 30 survivors at Benghazi, but the media ignores that story.

We have ample oil (Bakken) for many decades right here in the US, but our energy policy is to waste taxpayer money on alternative fuels. Where is the media drumbeat to use that oil to boost the US economy?

6 posted on 03/26/2013 4:14:47 AM PDT by Senator_Blutarski
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To: pieceofthepuzzle

Styx The Grand Illusion Lyrics

Songwriters: DE YOUNG, DENNIS
Written by Dennis DeYoung
Lead Vocals by Dennis DeYoung

Welcome to the Grand illusion
Come on in and see what's happening
Pay the price, get your tickets for the show
The stage is set, the band starts playing
Suddenly your heart is pounding
Wishing secretly you were a star.

But don't be fooled by the radio
The TV or the magazines
They show you photographs of how your life should be
But they're just someone else's fantasy
So if you think your life is complete confusion
Because you never win the game
Just remember that it's a Grand illusion
And deep inside we're all the same.
We're all the same...

So if you think your life is complete confusion
Because your neighbors got it made
Just remember that it's a Grand illusion
And deep inside we're all the same.
We're all the same...

America spells competition, join us in our blind ambition
Get yourself a brand new motor car
Someday soon we'll stop to ponder what on Earth's this spell we're under
We made the grade and still we wonder who the hell we are

7 posted on 03/26/2013 4:16:54 AM PDT by raybbr (People who still support Obama are either a Marxist or a moron. No, they are both.)
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To: pieceofthepuzzle

Shocking info...America is in “failure” mode. Thanks Obummer.


8 posted on 03/26/2013 4:23:14 AM PDT by wesagain (The God #Elohim# of Abraham, Isaac and Jacob is the One True GOD.)
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To: Cowboy Bob
Who did Mort vote for in 2008?

The same person who voted for in 2012.

9 posted on 03/26/2013 4:33:12 AM PDT by Common Sense 101 (Hey libs... If your theories fly in the face of reality, it's not reality that's wrong.)
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To: pieceofthepuzzle

The country isn’t really advancing. By comparison with earlier recessions, it is going backward. Despite the most stimulative fiscal policy in American history and a trillion-dollar expansion to the money supply, the economy over the last three years has been declining.
........................................................
No sh*t Sherlock.


10 posted on 03/26/2013 4:35:42 AM PDT by Venturer
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To: newfreep

“Savings accounts in Spain, Italy and other European countries will be raided if needed to preserve Europe’s single currency by propping up failing banks, a senior eurozone official has announced.”

http://www.telegraph.co.uk/finance/financialcrisis/9952979/Cyprus-bail-out-savers-will-be-raided-to-save-euro-in-future-crises-says-eurozone-chief.html


11 posted on 03/26/2013 4:49:07 AM PDT by newfreep (Breitbart sent me...)
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To: CommieCutter
The one that still baffles me to this day is the lack of outrage about high gas prices. Grand illusion or not, that is one thing they can’t hide and yet here we are.

There is only one legitimate reason for this "illusion"... a sycophantic and psychotically protective "media", so invested in protecting their little ignorant affirmative action poster boy, that bad news has been pronounced as good. When Bush was in office and there was a spike in gas prices, you heard about it every time you saw a paper, magazine, turned on a radio or television; now... nothing. If something like Benghazi would have occurred on Bush's watch, you would have heard about it every night, including nightly interviews with the family and friends of those who killed; now... nothing.

There are literally thousands of examples that can be provided to explain the propogandist-driven indifference of the population. Meanwhile, idiots like Rush Limbaugh waste air time blathering about his so-called "theorem" and "low information voters". The reason the jug-eared communist is never blamed is due to his protective media, nothing more. And they're not "low information voters"... they are idiots, losers, parasites, and/or apathetic nitwits who care nothing about the country or our children's future; just because gutless wonders like Rush are afraid to call them what they are doesn't change the fact. The media is going to cover for this POS until he is out of office.

12 posted on 03/26/2013 4:49:32 AM PDT by Common Sense 101 (Hey libs... If your theories fly in the face of reality, it's not reality that's wrong.)
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To: pieceofthepuzzle

And Mort’s 14-15% true unemployment rate doesn’t count the millions who had climbed onto disability to escape this and previous labor markets.


13 posted on 03/26/2013 4:54:43 AM PDT by 9YearLurker
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To: 9YearLurker

Or who retired early..


14 posted on 03/26/2013 4:59:01 AM PDT by pieceofthepuzzle
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To: Common Sense 101

You see Zuckerman’s liberal obtuseness when, for example, he lists the small slowing of growth in federal spending wrought by the sequester as a drag on the economy—as if still faster, debt-fueled government expansion would be the better route.

Also, he’s quick to jump onto government-funded job training as a good thing. And our lack of STEM training in our workforce? He of course doesn’t consider that that’s been confounded by our government subsidies of useless degrees to marginal students.

Let only top students and/or those willing to train in high-demand STEM trades get college grants and loans, and we’ll have a very different education economy. Those so interested in the arts will find different routes for training and apprenticeship, as will those who we now fund for training that employers could just as well provide on the job and/or more cheaply.

Those who aspire for their kids to just get a degree despite their lack of resources will have their kids get more useful degrees.

Who knows? Maybe parents will actually start demanding that their kids get a rigorous education through the high school level, such that college degrees aren’t required for remedial purposes.


15 posted on 03/26/2013 5:01:08 AM PDT by 9YearLurker
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To: pieceofthepuzzle

Yes.


16 posted on 03/26/2013 5:01:56 AM PDT by 9YearLurker
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To: pieceofthepuzzle

...but the present phase might also be called the Grand Illusion...


I think a better title may be “Grand Delusion”. Everyone wants to believe the figures because the real picture is too scary to contemplate.


17 posted on 03/26/2013 5:19:53 AM PDT by cuban leaf (Were doomed! Details at eleven.)
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To: CommieCutter
The one that still baffles me to this day is the lack of outrage about high gas prices. Grand illusion or not, that is one thing they can’t hide and yet here we are.

The frog's just gotten used to the extra warm water in the pot, is all.

18 posted on 03/26/2013 5:21:59 AM PDT by COBOL2Java (Fighting Obama without Boehner & McConnell is like going deer hunting without your accordion)
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To: cuban leaf

We might certainly see the DJIA at 20000 before the crash.

But who knows when the PTB will pull all their chips and turn the lights out?

We’re at their mercy, and they know when they’re “done” and will leave you holding the bag.

So, you can play along with them, ride the stock market up, but you better know when you’re planning to get out and not hold your pumpkin futures until November.


19 posted on 03/26/2013 5:22:25 AM PDT by MrB (The difference between a Humanist and a Satanist - the latter admits whom he's working for)
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To: 9YearLurker

Let only top students and/or those willing to train in high-demand STEM trades get college grants and loans, and we’ll have a very different education economy. Those so interested in the arts will find different routes for training and apprenticeship, as will those who we now fund for training that employers could just as well provide on the job and/or more cheaply.

Those who aspire for their kids to just get a degree despite their lack of resources will have their kids get more useful degrees.

Wow that was good, but you can’t honestly believe they’ll dump all those lib professors do you?


20 posted on 03/26/2013 5:23:39 AM PDT by Undecided 2012
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To: Undecided 2012

No, but it would be amusing to see.


21 posted on 03/26/2013 5:32:01 AM PDT by 9YearLurker
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To: 9YearLurker

The trouble is how we measure GDP. Government is part of it and must be accounted for, but we also need to offset the drag misallocation and misappropriation of capital cause on private enterprise. The real action in successful economies comes from unfettered private enterprise.


22 posted on 03/26/2013 5:39:41 AM PDT by 1010RD (First, Do No Harm)
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To: 1010RD

There’s also the tipping point re: federal debt. E.g., if the dollar loses its reserve currency status that will be a huge hit across the economy.


23 posted on 03/26/2013 5:50:25 AM PDT by 9YearLurker
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To: wesagain

Our year national budgets have been ahead of GNP/GDP since 1980. That’s when we went into failure mode. It just took us this long to make it obvious.


24 posted on 03/26/2013 6:03:09 AM PDT by Jack Hydrazine (I’m not a Republican, I’m a conservative! Pubbies haven't been conservative since before T.R.)
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To: 9YearLurker
...if the dollar loses its reserve currency status that will be a huge hit across the economy.

If/When this happens, our money will be worth less than Weimar Republic dollars! We will become Zimbabwe overnight and you will spend $199 for that $1.99 loaf of bread!

I truly do not think people understand how close to the precipice we currently stand!
25 posted on 03/26/2013 6:08:59 AM PDT by ExTxMarine (PRAYER: It's the only HOPE for real CHANGE in America!)
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To: ExTxMarine

Ha ha—well, maybe not quite THAT bad, but...


26 posted on 03/26/2013 6:16:42 AM PDT by 9YearLurker
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To: pieceofthepuzzle

One of the worst Pollyannas talking up unicorns and rainbows is CNBC”s chronic ObamaBot, Steve Leisman. One has to wonder if even he can believe the joy juice he doles out on Squawk Box every morning.


27 posted on 03/26/2013 6:41:39 AM PDT by txrefugee
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To: COBOL2Java
The frog's just gotten used to the extra warm water in the pot, is all.

And most of the LIVs are still willing to believe the propaganda.

28 posted on 03/26/2013 6:42:40 AM PDT by Max in Utah (A nation can survive its fools, and even the ambitious. But it cannot survive treason from within.)
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To: Max in Utah

Understand that the people that are causing the crash, that know it’s coming,

have an exit strategy which includes blaming YOU for the discomfort that the EBT/LIV crowd is going to experience.


29 posted on 03/26/2013 6:49:31 AM PDT by MrB (The difference between a Humanist and a Satanist - the latter admits whom he's working for)
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To: txrefugee
You know, I have respect for everyone in any job, and definitely have respect for business people. That said, sometimes some of them make broad sweeping pronouncements about that which they know little. For example, I've heard business and investment people say that ‘a healthier work force is a better work force, and therefore Obamacare will help the economy’. There are so many ridiculous and objectively wrong aspects of that comment that one would have a hard time knowing where to start, but some of these guys actually believe this crap.
30 posted on 03/26/2013 7:11:57 AM PDT by pieceofthepuzzle
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To: 9YearLurker

I think the US as a whole is just like that family in 2007 riding a wave of fake prosperity based on maxxed out credit cards and helocs on a house with negative equity.

Instead of a McMansion and two leased luxury SUVs, we have election-buying entitlements.


31 posted on 03/26/2013 7:16:26 AM PDT by nascarnation (Baraq's economic policy: trickle up poverty)
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To: 1010RD

>>> The real action in successful economies comes from unfettered private enterprise.

The problem is that ‘successful’ economy eventually grow big enought to attract attentions from TPTB.


32 posted on 03/26/2013 9:14:56 AM PDT by Sir Napsalot (Pravda + Useful Idiots = CCCP; JournOList + Useful Idiots = DopeyChangey!)
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To: Common Sense 101

Good answer....I like the way you think..


33 posted on 03/26/2013 1:42:13 PM PDT by CommieCutter
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To: CommieCutter

SAY IT... SAAAY ITTT!

Best scene in the movie...


34 posted on 03/26/2013 3:28:52 PM PDT by Common Sense 101 (Hey libs... If your theories fly in the face of reality, it's not reality that's wrong.)
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