Monday, February 11, 2008

Is Bush insane, or is Wall St. just overloaded with cynics?

So I checked out this article today:

US economy 'will avoid recession'

Found on the The article states the following:

"The country will see growth of about 2.7% despite the housing slump and credit crunch, the annual Economic Report Of The President said."

and then later in the article mentions:

"The economy grew at an annual rate of just 0.6% from October to December, the Department of Commerce said.

In the previous three months, between July and September, the economy was growing at an annual rate of 4.9%."

To be honest, I'm not sure who to believe anymore, although I have a serious aversion to believing anything that comes out of our current president's mouth - on a certain level, the reports that have been coming in through the major news media have been very much 'oh woe is we [Americans]'. News Analyst and especially Business news analysts have been using the words
'recession' and 'economy' like they were using the words 'the' and 'a' - peppering them everywhere.

Granted, I am a casualty of the 'horrible economy' but more recently I'm beginning to get some indications that my firing/lay-off might possibly be divine intervention to a certain degree [I might touch on this more if a few cards fall the way I'm hoping].

I think I heard or read somewhere recently the idea that we may be 'talking ourselves into a recession' - all the media is saying that there are all these problems with the economy and the people are agreeing and thus not buying as much - which in turn causes the economy to get worse since people aren't buying as much and it becomes a vicious circle.

By no means do I think Bush is an economic genius, obviously you don't have to dig too deep to see this is just economic propaganda to make his administration not look so horrid. But (sigh, I hate to say this) maybe he has the right idea...

OK I can't say that without feeling like I'm supporting some sort of evil so, let me correct that and say - Maybe someone smart in Bush's ADMINISTRATION has the right idea...(ok much better)

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