Biden says a lot of stupid things, but sometimes I can’t tell if he’s lying, or if he is just too dumb to understand what he is saying.
Biden conceded that the economic recovery was not proceeding as fast as the administration had hoped, but claimed there was “no doubt we’re moving in the right direction.”
Positive gross domestic product readings and other mildly hopeful signs are masking an ugly truth: The US economy is in a 1930s-style Depression, Gluskin Sheff economist David Rosenberg said Tuesday.
Writing in his daily briefing to investors, Rosenberg said the Great Depression also had its high points, with a series of positive GDP reports and sharp stock market gains.
But then as now, those signs of recovery were unsustainable and only provided a false sense of stability, said Rosenberg.
Rosenberg calls current economic conditions “a depression, and not just some garden-variety recession,” and notes that any good news both during the initial 1929-33 recession and the one that began in 2008 triggered “euphoric response.”
You know, for most of the Bush years, we saw unemployment go down toward 4%… that was what I call the right direction.
Yeah, I miss Dubya.
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