From Gallup:
More than half of Americans (55%) describe the U.S. economy as being in a recession or depression, even as the Federal Open Market Committee (FOMC) reports that “the economic recovery is proceeding at a moderate pace.” Another 16% of Americans say the economy is “slowing down,” and 27% believe it is growing…
The government can put out all the (carefully engineered) statistics it wants and the FOMC can put out all the happy talk in the world, but the American people feel the economy every day – and with wages flat or down, unemployment still high, housing prices still collapsing and gas and food prices rising, not too many of us are feeling confident in this “recovery”.
Our Ruling Class is still talking up how the “wealth effect” of rising stock prices will make us all feel better and start spending – forgetting that in real terms, stock prices are no higher than they were a year and a half ago. We’re not fooled – sure the DOW is racing towards 13,000, but gold is above $1,530.00 an ounce. We know our money is being eaten away because we can see it day by day at the gas pump, among many other places.
The key to recovery is to start creating wealth – and that means (here goes Noonan’s broken record, again) we have to start making, mining and growing more of our own stuff. Meanwhile, Obama is keeping with the “green energy” tomfoolery while bags of money are passed out to special interests who produce little or nothing of value. We need to drill for oil, mine coal, build nuclear power plants and oil refineries; we need to open up more farm and ranch land; we need to start making the mundane things of modern life – not outsource them to China where slave labor can do a bad job making the consumer goods we buy.
It really is just a matter of vision – Obama has never worked at a productive enterprise and thus doesn’t know what one is. To him, money is made by gaming the system and raking it in, one way or another, via government action. He doesn’t understand that the fairy tale life he leads is ultimately based upon people doing hard, grubby work…and if that work doesn’t get done, the whole house of cards comes tumbling down. Our economy needs to be geared towards the needs of the producers but is, instead, geared towards the need of Big Government and Big Corporation leeches.
2012 really can’t get here fast enough…
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