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The exhausted US economy,
and a lesson for Republicans

PJ Medeia, by David P. Goldman

Original Article

Posted By:Hazymac, 2/4/2014 12:04:03 PM

When employment hit an air pocket in December, most analysts brushed off the dreadful jobs number as an anomaly, or a function of the weather. They chose to believe Ben Bernanke rather than their lying eyes. (Snip) The Fed has insisted throughout that the treatment was working and the patient was getting better. Americans know better: in late January, 74% of respondents to a Fox News poll said the country still was in recession. Republicans have a once-in-a-generation opportunity to roar back to power given the miserable performance of the economy on Obama’s watch. But they still could fall on

Comments:
Technically, America has been in economic recovery since June 2009, although few believe that. Since then the numbers of unemployed have skyrocketed, median income has actually fallen by several thousand dollars per family, and the public mood is grim. Economists´ determinations of what is or isn´t a recession are based on carefully selected data that ignore financial reality. Spengler urges Republicans to do what they have failed to do: educate voters before Democrat socialist policies are locked in amber. The GOP simply must summon a survival instinct and win in November before the train passes the station by.

      


Post Reply  

Reply 1 - Posted by: twculver, 2/4/2014 12:49:30 PM     (No. 9719105)

Just about everything "Spengler" aka David P Goldman writes is a Must Read.

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Reply 2 - Posted by: tren9, 2/4/2014 1:02:48 PM     (No. 9719128)

Once again, the GOP is working frantically to snatch defeat from the jaws of victory.

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Reply 3 - Posted by: crimea river, 2/4/2014 2:41:44 PM     (No. 9719250)

There are some great charts in this article graphing the 0conomy from the viewpoint of people who really have skin in the game.

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