Saturday, May 31, 2014

The Ever-Shrinking U.S. Economy



The Ever-Shrinking U.S. Economy
The Commerce Department reported May 29, that the U.S. economy shrank at an annual rate of 1% in the first quarter of this year, which doesn't begin to reflect the actual wreckage of the real economy, the result of decades of insane anti-growth, anti-human policies.

But the figure rattled a few people, nonetheless, as this was the first quarter in three years in which output of goods and services has contracted. Also, as the New York Times put it, pathetically, for those Democrats running for Congress in the November midterm elections, this is not good news. "There's still time for growth to rebound before then," but "little room remains on the runway for an economic takeoff this year."

Divorced from all reality, numerous economists and other "experts" offer multiple explanations for the drop--weather, slower stockpiling of business inventories, etc., etc.--but insist, stupidly, that everything is looking up, and that recession, let alone anything worse, is simply not in the cards. The Wall Street Journal points out that few Americans believe that, as only 27% think the U.S. is headed in the right direction, according to a Wall Street Journal/ABC News poll conducted in April.