Newsweek started it with its last issue, "The Recession is Over"; granted, part of the cover's words were a sort of illusionary act, but the wording was clear. Then, out of nowhere, the stock market went up; way up, in fact, rose the highest monthly percentage in twenty years. Why? Beats me.
Then the President tells the NY Times he's 'guardedly optimistic' about a recovery. "Bottomed out" is the new catch phrase and, "we're going to hit 'bottom soon.'"
All of this economic jabberwocky forgets that unemployment is still high, and in fact is expected to rise sligtly higher this month, but, "according to experts, filings are 'lower than the previous month'." Uh, sure, whatever.
I'm going out on a limb here; I think if you're working and everything's cool and you had a nice dinner out last night, then yes, the recession is over. But when you went home and and spoke to your friend Pete, who's been out of work since February? I don't think Pete feels the 'recession is over'.
Follow me daily on SFGate and Twitter
No comments:
Post a Comment