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PrintOctober 15, 2009
The Recession is Over
“The worst U.S. recession since the Great Depression has ended, but weak household spending as the labor market struggles to create jobs will slow the pace of the economy's recovery,” says Reuters citing a newly released “survey.”
“The survey of 44 professional forecasters by the National Association for Business Economics (NABE) found that 80 percent of economists surveyed believed that the economy was growing again, after four straight quarters of declines.”
“‘The great recession is over!’ Lynn Reaser, the president-elect of the National Association of Business Economists, declared [recently].”
Many conservatives are resisting the survey and the Obama media’s prompt declaration that the recession is over. But I say let’s go with it. Let us also agree that the recession is over.
Regardless of whether the NABE and the so-called mainstream media are trying to assist Mr. Obama with public perception, in the long run this will help the conservative cause.
Think about it. Reality has been turned on its head and the media-created perception is that Bush is the source of our economic problems. Forget about the liberal policies (e.g., Community Reinvestment Act) that set up the collapse of the housing market. Forget about ACORN extorting banks to make risky loans to unqualified buyers -- which quickly turned to “predatory” loans by greedy corporations after the collapse. Forget about the Freddie and Fannie money passed to Obama, Dodd, Kerry, et al, to keep the Ponzi scheme going. So long as the economy is viewed as Bush’s fault a prolonged “recession” will only work to help Obama.
Remember, Obama was elected under that fraudulent banner. And he will milk it to the last drop.
The default position that “I inherited this mess,” could theoretically go on throughout Obama’s four-year term. But if the recession is over, Obama will be forced to take responsibility for his reckless spending policies. The sooner it’s over the better.
Unless the basic rules of economics magically change, further weakening of the dollar will occur drastically under Obama. You can bet what’s left of your dollar’s value that Obamanomics will have severe and long-term consequences.
So long as Obama and the Democrats retain their stronghold of and through the federal government the economic forecast doesn’t look bright. The Obama debt is simply unsustainable.
So, as liberals often say, let’s move on. Let’s move on into the era of responsibility of which Obama so eloquently speaks. Only then will Obama stagger under the full weight of the consequences of his reckless ideology.
