Posted on 03/31/2011 11:14:04 AM PDT by The Magical Mischief Tour
Why aren’t Americans being told the truth about the economy? We’re heading in the direction of a double dip – but you’d never know it if you listened to the upbeat messages coming out of Wall Street and Washington.
Consumers are 70 percent of the American economy, and consumer confidence is plummeting. It’s weaker today on average than at the low point of the Great Recession.
The Reuters/University of Michigan survey shows a 10 point decline in March – the tenth largest drop on record. Part of that drop is attributable to rising fuel and food prices. A separate Conference Board’s index of consumer confidence, just released, shows consumer confidence at a five-month low — and a large part is due to expectations of fewer jobs and lower wages in the months ahead.
Pessimistic consumers don’t buy as much. And fewer sales spells big economic trouble ahead.
(Excerpt) Read more at businessinsider.com ...
Add to these data two other ominous signs:
How many recoveries have started with increasing oil prices, increasing food prices, increasing commodity prices, and a downturn in housing?
Anyone have those numbers?
Reovery summer v 2.0 here we come!/s
Eventually, even the MSM will have to admit that Obama is destroying this economy. Or not.
Smoke and mirrors from the media and White House.....
But Obama gave a nice speech and the media said it was all good now! lol
Robert Reich, the little Clintonista pipsqueak? Doesn’t sound too happy with the current way of things. Hmm... wonder if he and Hillary have something up their sleeves.
MSM will have to admit that Obama is destroying this economy
N E V E R! The egotistical leftists who head the MSN don’t have it in their DNA to turn against the left, democrats or obama. After all, they helped get the dumb bunny elected - how would that look?
Point taken.....but thatis the worst Photoshop job ever!
We haven’t experienced the real pain from the economic collapse. That will be brought by inflation and we’re getting some strong “whiffs” right now.
His analysis comes up a little short.
So this means we will have 2 recessions in 4 years under Barack Obama’s watch with trillions more added to the debt and a massive new entitlement to fund.
If Barack Obama was a white Republican instead of a black Democrat, the liberal media would have already declared this presidency over.
I was never a fan of Bush, but Barack Obama is exponentially worse than Bush on every level, but hey, so long as Barack Obama has the votes, confidence and propaganda of the liberal media, all is rosy and Barack Obama is still the Messiah saving us from destruction, even if he is the cause of that destruction.
There are those who think little of him.
At least there is some good news embedded in this message: Robert Reich said it - so probably the opposite will happen...
Oh, sure, months and months of “recovery” and the next down-turn will be a “double-dip” so they can claim its part of the “Bush Recession”. Rubbish. I will be the Obama Recession (or Obama Depression).
“His analysis comes up a little short.”
By about two phone books.
they can’t pass a balanced budget. They can not pay the interest on the debt without creating more debt; thus, the republic is insolvent. Nothing good can come of that.
All the scientists economists agree, it's Bush's fault.
For the media just to proclaim that Obama was merely mortal would be an embarrassment worthy of hari-kari.
It won't happen ever. The press still worships FDR. We will not see the end of Obama idolatry in our lifetimes.
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