One can argue--and I do--that the Obozo Economy is 'recovering.' All the major indicators have been positive for more than a few months.
But "positive" does not mean "great." In fact, it doesn't necessarily mean "good."
...we learn that the Glorious Obama Recovery seems to have hit a rough patch. Employers added only 120,000 new jobs to their payrolls last March after several months of averaging twice as many. Meanwhile, the four-week moving average of new unemployment claims hit 381,750. This is as poorly as this indicator has fared since early January....
The Chicago Fed National Activity Index deflated last month; it's anemic. Same with the ECRI Index. The Fed won't be increasing rates soon, by their telling of it.
It's a bit like watching a drunk walking. A few halting steps forward, then a pause, reconnoitering, then a half-step backwards, then a lurch forward again, and a hand goes out to feel the way along the wall, then a pause.....
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This shouldn't be a surprise. The government abandoned expansionary fiscal and monetary policy long ago. 2% GDP and lackluster improvement in the labor market is the result. Plan on this below trend growth to continue for years. Keynesians have been telling you this for 3 years Dadster.
The Bank Bust is the cause and the Bank Recovery--when it occurs--will be a help to the economy.
We'll need the help just to pay off ObozoDebt.
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