Thursday, August 6, 2009

Stating the Obvious About the Economy

FOX News comes out and says what I've suspected for some time about the economic "experts" who can talk for hours without enlightening you about how our economy is doing. Some of them have been saying that we're on the threshold of a recovery, but at the very least, it's too early to tell, because our government has been lacking in fiscal discipline, the automotive and other industries are still basket cases, and job losses continue to mount. Here's a few paragraphs from the article:

What goes up must come down. Unless it goes down further, sideways or moves some other way that no one really predicted.

That's the way economics really works and no matter how many talking heads -- right, left and center -- tell you otherwise, most don't have a clue what direction things are headed. From gas prices to the stock market to jobs, the people who act like they know everything often know nothing.

Sure, many economists -- Greenspan, Geithner, Krugman, Zandi -- are brilliant. Then there are the media types like Williams and Couric and before her Rather. None of them could find prosperity even if it were just around the corner.

Here are the facts. Most of those so-called experts have been wrong about the major economic moves of the past several years. The left treated the robust economy of the George Bush years like it was a Michael Vick puppy mill .

I bet Obama would trade in every czar he owns for a number even approaching the unemployment rates found under Bush....

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