by James Buchanan
A recent Reuters article reports “The U.S. recession is set to end ’soon,’ but continued job losses and plunging house prices point to an economic recovery that will be more moderate than those experienced in previous downturns, a survey showed. The survey of 45 professional forecasters released by the National Association of Business Economists (NABE) on Wednesday found almost three-quarters expected the economic downturn to end by the third quarter of this year.”
Oh what an incredible pile of steaming crap! Perhaps, these people are living in a parallel universe not plagued by subprime meltdowns and weekly bank failures. Maybe this liberal author is tyring to prove himself dishonest enough to qualify for a White House press secretary job.
I seriously wonder if any of these liberals could even name one important thing that has improved.
I can name several big things that are wrong:
* Three more banks failed last week (36 banks so far this year)
* Chrysler went bankrupt
* Pontiac went bankrupt
* GM is about to go bankrupt
* There are over 600,000 more unemployed each month
* The subprime mortgage crisis is far from over
* The mortgage crisis is spreading to middle and upper classes and
* those tent cities aren’t getting any smaller.
The liberal media fell all over itself praising Obama during the 2008 election and covering up all the ugly details about Obama such as his militant support for partial birth abortions or that “little” issue of Obama probably not being a legal US citizen. Now that we have shot by Obama’s first 100 days and the only accomplishments seem to be failing banks and bankrupt auto companies; the liberal media needs to invent some good news in support of Obama. So they find a group of liberal economic “experts” who have come up with a hair-brained prediction that the economy will recover in a few months despite all the financial carnage and downward trends.
The one thing Obama and the liberal media ultimately can’t overcome is the truth. If Americans continue to be laid off at the rate of over 600,000 per month, it will be extremely hard to put a “happy face” on the Depression several months from now. Most likely, the liberals are trying to fool people into thinking the Depression is over so that they run out and start buying things. The liberals must believe this will be enough to get us out of the Depression. There’s just one little problem: Most Americans don’t believe the economy will get better anytime soon. Most think it will get worse, much worse.
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