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Sunday, November 22, 2009

Economic Recovery?

http://www.foxnews.com/politics/2009/11/23/economic-panel-predicts-positive-growth-high-unemployment/?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%253A+foxnews%252Fpolitics+%2528FOXNews.com+-+Politics%2529
Economic Panel Predicts Positive Growth in 2010, but Still High Unemployment

The charlatans and frauds that pretend to be economists once again pretend we are not in a depression and once again claim that the minor recession that we are in will be starting recovery. Very soon.

These are the same charlatans and frauds that didn't notice we were in a recession for more than a year after it had started. These are the same charlatans and frauds that a couple of years prior claimed the economy was so strong that nothing was wrong and nothing could go wrong.

It must be nice to have a job where you can be wrong 100% of the time and still get paid your regular pay and a bonus for a job well done.

http://wallstcheatsheet.com/breaking-news/economy/2009-retail-store-closings-complete-list-of-retailers-going-out-of-business/?p=3970/
2009 Retail Store Closings: Complete List of Retailers Going Out of Business

http://www.fdic.gov/bank/individual/failed/banklist.html
Failed Bank List

http://www.realtytrac.com/contentmanagement/pressrelease.aspx?channelid=9&accnt=0&itemid=7706
U.S. FORECLOSURE ACTIVITY INCREASES 5 PERCENT IN Q3

http://www.dollarsandsense.org/archives/2009/0709miller.html
The Real Unemployment Rate Hits a 68-Year High

This is what the economy currently looks like. Fortunately, we have government flunkies to tell us that the only reason the economy looks this good is because the stimulus package worked. However, we will need to be a little patient as it will take a year or two before business stop failing, and unemployment stops increasing.

Sigh. Considering the current rates, I wonder if there will be any businesses still open (that aren't receiving bailout money) and any jobs (other than welfare) still available.

Until then, I guess we just need to be happy that the stimulus money helped failing Wall Street firms pay their executives the bonuses they deserved.

Until then, I guess we just need to be happy that people like Tim Geithner and Ben Bernanke, who were in charge of preventing this from happening in the first place, are still on the job to fix the economic problems they didn't understand and didn't see coming.

Until then, I guess we just need to be happy that no matter how many people lose their jobs and how many people lose their homes, the government will be there to tell us how well off we are and how good the economy is doing.

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