We may be skidding into a cataclysm but the unemployment numbers will not help us know that. They will lag the recovery by 6 to 18 months-or the nadir for that matter.
We may be skidding into a cataclysm but the unemployment numbers will not help us know that. They will lag the recovery by 6 to 18 months-or the nadir for that matter.
That's true, but the ineptitude in gathering and/or deliberate obfuscation of the data by Obama Inc. is what's really troubling.
What he is saying is different, however. The situation is much worse than the actual numbers plus the outlook for growth is pessimistic. He bases this upon puny economic growth, inadequate state tax revenue driving higher taxes/reduced spending and evaporation/disappearance of job creating businesses.
Consumers have traditionally led recoveries. With limited available sources of funds (home equity, credit cards and reduced payrolls) it is hard to see this recovery-by-consumer happening.
We need to start making stuff again.
schu