I've been predicting it since we turned the political corner in '06 and put the Dems in the drivers seat. Winning back the house was nice, but the new Republicans are way short of agressive enough on dealing with the problem -- not that they could anyway, with Democrats in the Senate and BO in the WH. I find this guy to be slightly on the optimistic side, but what he points out in the current picture ought to be obvious to everyone drawing breath that isn't just completely in the liberal wacko tank:
- Printing money ("Quantitative Easing") insures high inflation, and in things that matter we are ALREADY in double digit inflation! Been to the food store lately? Fill up your car? Go out to eat? Notice that the new iPad didn't come in with more function AND a lower price as we have come to expect in the tech industry forever? The CPI numbers are actually out showing this fact that was as predictable from the policies selected as night following day ... it is just being hidden by the 30% of the CPI that is housing. (Have you maybe heard that is depressed?)
- Unempoloyment is not really improving -- people are giving up on looking for jobs. During the Bush years, NPR never missed a chance when "ONLY 100K jobs were created in a reporting period" to pronounce 100K new jobs as way too low completely unacceptable, and understating the problem because people were becoming disenchanted and giving up searching for jobs. Oh, and do you remember when every report of new jobs also had to have a big discussion about "how many are GOOD jobs"???!!! Do you notice that sort of derision of new jobs suddenly seems to be missing? My my how the MSM view of things has changed!
- Every time since 1970 that we have had a spike in fuel prices it has been followed by a rise in unemployment and a downturn in production. When a Republican is in the WH, the MSM is all over that prospect and doing all they can to insure that it happens -- no expense can be spared in getting "better" (Democrat) government if you are in the MSM. Now??? Did someone say that gas was high? Oh well, maybe there will be less pollution. Unfortunately gravity is still in effect -- and the effect is likely to be much worse this time due to the weakness of the current economy and the inability of the current administration to deal with complex economic issues.
Our dependence on the MSM has reached ridiculous proportions, after 8 years of Bush, we got used to a constant drumbeat of negative press even when things were going reasonably well. Now, any blip that could be looked as POTENTIALLY being positive is treated as manna from his worsshipfulness BO, while massive bad news on inflation, employment, federal policies, interest rates, effects of fuel prices, etc is just swept under the rug.
At some point we need to ALL throw politics and partisanship out the window and realize we have dug a deep deep hole of unsustainable policies for at least 80 years (since FDR). We have A LOT of work and a LOT of pain to get this turned around, but if we don't get rolling on in in 2012 and after, it may go so far that the beacon of freedom and prosperity that was bequeathed us by our founders, flickers and dies on our watch, the irresponsible baby boomers who failed in the challenge of keeping the American faith!