Comment – Opinion. If you will remember, yesterday I posted an article, ” Obama Says Recession is Over – Hooray,” where I reported that President Obama and Newsweek declared the recession was over – well here’s more proof it ain’t.
New jobless claims rise more than expected to 584,000. FoxNews.com-The Wall Street Journal-the Washington Times, et al, from the A.P. Wire, -Thursday, July 30, 2009. The same banner ran in all mainstream print and broadcast media this morning.
What also ran in the mainstream news this morning was that Stocks lose ground on concern about the economy. Los Angeles Times - Business, Thursday, July 30, 2009. “The Dow drops 26 points….it’s first two day decline in more than a month….the U.S. Commerce Department said…. orders for U.S. made durable goods….fell unexpectedly.”
Meanwhile in the administration’s bizarre world of fantasy and contradictions, The Fed reported the economy was “stabilizing,” Los Angeles Times-Business, Thursday, July 30, 2009, this after the Fed released it’s annual ”beige book” report on the economy. This apparent contradiction in the reporting on the economy is a distraction from other events in play by the administration – the health care reform bill which by all indications will further increase the American taxpayers debt load and further accelarate our current economic downward spiral.
So what is it Mr. Obama, recession or not? I think that us ‘regular folks’ who are living with your poor judgement calls on economic policy, know the answer to that – and you evidently don’t. Just my opinion.
Beaudreaux
