Good Economic News- “Bad Numbers are Getting Less Worse”
What a relief: Dallas Fed President Richard Fisher in an interview said, ”bad numbers are getting less worse,” though growth next year will be a “tough slog” and “significantly below potential”.
I wonder if Fisher took a special English course in college that taught him how to structure his reports for bewilderment effect. I usually admire original thought and clear descriptive structure in conveying complex developments in economics. I can use all the help I can get. I’m not sure that Fisher was interested in a clear description of conditions.
Unemployment continues to rise, housing starts are falling and the administration is fostering plans that will impose significant new taxes increases on small businesses and middle class America to support their Statist goals.
The current Obama deficit continues to escalate with recent reports that it has reached $1.4 Trillion dollars. I didn’t represent the figure numerically since I’m not sure if my keyboards can write enough zeros or that I really know how many to write for such a big number. This is a deficit representing the first 10 month effort of the Obama Administration. Try to imagine how big a deficit they will be able to run once they get a bit more experience. It is beyond my imagining.
Last month there were only a little more that 500,000 jobs lost. By Fishers reckoning this is a positive sign since there have been worse months. The growth of unemployment to affect the lives of 7.5 million Americans is somehow a positive sign since maybe it could have been 8 million or even higher is how Fishers thinking seems to work.
There will be no dramatic turnaround in the economy with Barack, Nancy and Harry running things. Their support by economic geniuses at the Fed that feel that bad numbers can be a positive sign, since they could have been worse, does not provide me with warm comfort.
The only organizations in the news that seem to know how to build a winning team are the Phillies and the Yankees. Obama might examine the talent building structure that produces results. I think we can now see the missing element in the Obama team—Talent. Experience and talent are the keys to victory on the field or in government.
2010 is when we get our chance to make meaningful changes in our Nations governing team. The trades we must make at that time are among the most important we will have ever considered.
Nancy and Harry must go.
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