Wednesday, January 30, 2013

Green Shoots

I certainly hope today's GDP number is just an oddity. But even if it isn't horrible scary news, it certainly isn't good news.

Elites have just been assuming the economy would turn itself around. At some point. Somehow.

It's 2013. In January 2009 the administration projected that by now the unemployment rate would be at 5.5%. That's without any stimulus.

The point isn't that they got that wrong, the point is that the unemployment rate is still at a level which should cause politicians to panic. No one is panicking.

Austerity forever!