Saturday :: Aug 2, 2003

Open Thread


by Steve

Sorry guys for no posts today; another draining day at the salt mines, yada yada yada....

Please post away and we will see what comes up over the weekend.

How do you like the Bush economy we have now? The unemployment rate goes down because more and more people have given up looking for work. Our second quarter GDP beats expectations, but when you look at it closely, the gains were because defense spending accounted for 70% of the growth and autos the rest. The housing refinance market, which has fueled new consumer spending the last fifteen months, has dried up in the last three weeks as rates have shot up due to the deficit. Consumer confidence still is not steadily heading upward as Corporate America continues to shed jobs and predicts that new hiring will not take place for another six months.

And Bush and the cable chatfests tonight all talk as if the economy is on the recovery path. Matthews even questioned on Hardball tonight if the Democrats have lost the economy issue now that things are getting better. Everyone is claiming victory early and talking as if Bush is out of the woods.

Everyone except Main Street, that is.

Steve :: 12:00 AM :: Comments (6) :: Digg It!