The recession, the worst since WWII, is the direct and inevitable result of Trickle Down economic policies of so-called conservatives.
They use public funds to provide private profits to large corporations and very few individuals. The combination of deregulation, non-regulation, buying influence in Washington to create special legislation, and old-fashioned greed now finally faces its predictable end – which the taxpayers will have to clean up.
How bad is it? It’s very hard to tell. The new Robber Barons have fudged the system so much that old rules of measuring the economy are no longer reliable.
The Dow, which is comprised of a select group of 30 stocks, kicks out stocks that go down too much (recently AGI).
Unemployment numbers do not include those who are considered no longer looking for work or those who are under-employed (who want full-time work but can’t find it).
Inflation is measured by a number of factors, which are changed when it becomes too embarrassing.
And income is measured by household income, which hides the fact that more mothers have to enter the workplace (and even so, middle-class and lower-class household income for the last eight years is down).
The president calls for, and gets, $750 billion to bailout his buddies on Wall Street but balks at sending a few billion to the auto industry, which can save millions of middle-class jobs.
Bush is the new Hoover and now is the new Great Depression. Let’s hope that Obama is the new FDR.