I'm trying to resolve two seemingly contradictory AP articles regarding the economy. One dated October 20, 2009 is entitled "High jobless rates: The new normal?". The other one dated October 21, 2009 is entitled "Economy recovering in many areas, but not others." A few contradictions seem to exist.
While the former tells us to just get used to higher unemployment and a lower standard of living due mostly to a faltering auto and construction industries, the latter tells us that "pickups in housing and manufacturing activity are leading the budding recovery in most of the country". Economists and policy-makers say the former, and the Federal Reserve board says the latter. I think those two entities need to collaborate. Is the economy getting better or worse? Does the auto industry not comprise a significant part of manufacturing activity? Is the construction industry not primarily driven by housing? Are they improving or not? Is the worst over or yet to come?
The latter article continues to say that the gains in housing spurred on by the first-time homebuyer tax credit could fizzle after that credit expires at the end of November and that factories ramped up production to restock inventories depleted by the now-expired Cash for Clunkers program. So this budding recovery supposedly started by the infusion of government (i.e. taxpayer) money will falter once that money runs out or policies expire or change at their whim.
Does the AP want us to believe that there is just enough life in this economy to keep the same bums in office, but not quite enough life to not let them continue intervening for the "public good"? While government dangles a carrot in front of us, there is a buffet line awaiting us all if they would just leave us alone as the Constitution requires. We the people must hold them to it next November.
Saturday, October 24, 2009
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment