mm443: Don’t you feel like this guy?

July 18, 2008

 

MUDGE’S Musings

Can anyone still doubt our national (perhaps global?) economic distress? Runs on the banks. A tank of gas edging toward Benjamin territory. Someone you know (or mayhaps many someones you know) out of work and/or looking. Or giving up looking. Starbucks (Starbucks!) closing 600 stores.

Let’s have a show of hands: How many of you (U.S.) readers believe that this Spring’s tax refund “stimulus” could have been an order of magnitude larger (that’s 10 times), and still not been enough?  Two orders (that’s times 100)? smile_sad

It doesn’t go away, our concern with the dire state of the economy.

Paul Krugman, economics professor and columnist of the NYTimes has been consistent in identifying our present financial dismay, and he has some grim news — it’s not going to get better very quickly.

nytimes

L-ish Economic Prospects

By PAUL KRUGMAN | Published: July 18, 2008

Home prices are in free fall. Unemployment is rising. Consumer confidence is plumbing depths not seen since 1980. When will it all end?

The answer is, probably not until 2010 or later. Barack Obama, take notice.

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mm370: How can you tell our president is lying?*

May 5, 2008

MUDGE’s Musings

Surprisingly (to me at least) it’s been several weeks since we last looked at the nation’s recession. Maybe we were hoping that we would wake up and find it was all a bad, bad dream.

“May you live in interesting times”

mm347: It’s official, we’re depressed — er, recessed
mm344: Welcome to interesting times
mm337: Dare we trust the guys who got us into this mess?
mm335: Are you prepared for interesting times?
mm334: Rearranging deck chairs
mm333: “Great people shouldn’t have a resume”
mm331: Obama at Cooper Union: Lincoln?
mm328: Today’s economics lesson: Depression 101
mm309: The news Bush really hates you to hear
mm289: Recession: Paying the price for our power
mm285: Mayor Mike tells some hard truths
mm263: This man -so- wants to pull the trigger…
mm257: The R-Word – Not that racy television show
mm256: I don’t hate big corporations, either

Basically, the time since Jan. 20, 2001 has been a bad, bad dream; our collective misfortune is that we’ve been experiencing it together. Okay, people, no more sushi from that place down the street!

But, about our recession. Did you catch the news that the unemployment numbers weren’t as desperately bad as predicted? These are the types of statistics examined by gimlet-eyed economists, whom I’m afraid function in much the same way (just different, more electrified tools) as witch doctors and soothsayers.

Consider the employment numbers as so much chicken entrails.

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