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Wednesday, November 25, 2009

Signs, signs, everywhere signs.

http://www.cnn.com/2009/US/11/23/recession.jobs/
Brighter signs in economy haven't boosted confidence or hiring

I wonder why the pundits think the economy is getting better?

They claim the stock market is rising. But the stock market has absolutely nothing to do with the economy. After all, wasn't it Wall Street that packaged loans that would not get paid back which caused the current economic meltdown?

They claim that the U.S. Gross Domestic Product is growing. However, if you remove the cash for clunkers and the tax credit for first time home buyers then the GDP is actually shrinking.

Ben Bernanke, the Federal Reserve Chairman claims things are getting better. But a few years ago, he said the housing market is rock solid and there is absolutely no way it could cause problems.

So as far as I can tell, the only bright road signs in the economy, is the liars out in full force claiming the economy is improving.

Based on the current economic policies being enacted by our government (bailout, stimulus, ...), I imagine that if all the liars were gone, we would be hearing about what a sad shape the economy is in, and how it will be decades (if ever) before the economy improves.

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