O’s mission failure

Courtesy of John PodhoretzUgly part:

Low interest rates here at home were theoretically supposed to serve as a  spur to new investment in manufacturing and the restocking of inventories, since  they make doing all that much cheaper. But the decline in foreign markets has  made new spending pointless at the moment.

“I don’t see anything that suggests any major change over the next couple  months,” said Bradley Holcomb, the chairman of the panel that measures  manufacturing activity.

Today, jobs numbers for July come out, and they’ll likely be at best a slight  improvement over June’s incredibly anemic 80,000 new jobs.

Urban centers are feeling the worst of it. The Labor Department reported  yesterday that unemployment rates rose in 332 large metropolitan areas — and  declined in only 29.

We’re now five years into our economic woes, with the mild recovery of  2010-2011 now giving way to something that looks perilously like stasis. Like  Japan.

“The recession which kicked off Japan’s ‘lost decade’ lasted from 1991 to  1993,” notes Michael Feroli, an economist at JP Morgan. “Including the recovery  experience from that recession is sobering: We are currently faring worse than  Japan at the same point in their lost decade.”

 Vote out the Idiocrats in November.


2 Responses to “O’s mission failure”

  1. Today’s numbers might be slightly better than June, but by the time they are revised downward in a week or 10 days, they won’t be looking all that good. The media is doing the best they can to pump up everything possible to make Czippy look better than what he’s doing, sensing the coming tsunami in November. I heard on the radio this morning that CNN is saying Romney’s horse that’s in the Olympics will make him lose votes because people will realize how rich he is. Pathetic, indeed!

  2. You gotta love liberal logic: Romney will lose votes because he’s rich and has created jobs but Obama won’t because he’s rich and has a net deficit of jobs.

    Liberalism is the ideology of the terminally stupid.

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