Via Big Journalism.
According to the Department of Labor, although claims for unemployment decreased in the week ending April 14, the 4-week moving average was 374,750, up 5,500 from the previous week’s revised average of 369,250.
This means that the economy is not improving, despite administration claims that it is. In Standard & Poor’s 500-stock index, the number of firms that provided earnings guidance to investors in March was 27, which was the lowest ever for the month of March and the second-lowest of any month since 2000. This means that companies are nervous about their future earnings.
But the media continues to trumpet their calls of triumph for the Obama economy, despite the loosened money policy that creates an artificially inflated market. CBS, one of the arms of the vast left-wing conspiracy, hilariously titled a piece on the economy, “Economic outlook dim, but improving.” NBC, not to be outdone, had Matt Lauer say to Sarah Palin, “Some people would say if things seem to get better, or be getting better, why would I take that chance and change the person in the White House?” And ABC? How’s this? George Stephanopolous, in March, “The economy has added more jobs than expected in each of the past three months…” And just whose expectations was he referring to?
More devastating facts about Obama’s Keynesian economics include the upswing in foreclosures and the record number of unemployed Americans. Obama blames bad luck, Bush, technology, and the Arab Spring’ and Japan tsunami. Timothy (Turbotax) Geithner blames the rest of the world.
And his sycophantic supporters still have not had enough.
Everything (and more) that I predicted at the beginning of this train wreck’s time in office has come true. If there are four more years of this ‘fundamental change’, the United States will make Greece look like an economic giant.