The economist formerly known as Brad DeLong argues that the only way to read the economic indicators is as preparing for a triple-dip. When, he asks, will we stop pretending this is not a depression?
The cynical answer is that "we," meaning the press who act as gatekeepers on the proper terms, will start calling it a Depression about two weeks after there is a Republican who can be held responsible for the condition of the economy. Looks like recovery summers until at least 2017!
The even-more-cynical answer is that neither journalists nor the administration's savants actually understand why the economy doesn't recover. All those "unexpectedly" comments by the press about bad economic news -- now a long-running joke -- are genuine. They honestly don't see that the economy has been so bad for so long just because of what they are doing to try to improve it.
4 comments:
The journies have husbands tied to Democrat Green businesses and inqusitions. The Democrats patrons have wives tied to the US military industrial defense complex contract system.
What do you mean the economy is going down for them? It's going up, including union wages and benefits.
For them, the life under Obamaca is Just Fine. So what if the peasants starve and die due to cold in Chicago? They've never cared about that.
Keynesians and price-fixers to a man.
See my post Releasing the Brakes and Advancing the Throttle Works Better than Trying to Push the Train:
http://chicagoboyz.net/archives/33194.html
There are some systemic things invovled as well, but nobody I can see is talking about them.
Post a Comment