Economy 2x as bad as previously thought.

2009 July 31 post from voodoo

Good news!  More proof that those in Washington, DC who claim to be smart enough to 'fix' the economy (let's give them a hint: 'free market') were completely wrong in diagnosing how bad things really are.  While this type of metric is typically referred to as a 'lagging indicator', it goes to show that those supposedly in-the-know also have NO clue how much impact (good or bad) the various bailouts are having.  I expect within the next week we'll hear from Obama/Biden/Geithner/Bernanke/random-econ-stooge that things would be 4x worse if we didn't pass those stimulus packages!


http://www.bloomberg.com/apps/news?pid=20601087&sid=aNivTjr852TI

 

Now ponder this fact:  only 6% of the bailout funds have actually been granted, transferred or spent at this point.  The real fun (inflation) starts when the other 94% finds its' way into our economy.  'Helicopter Ben' indeed...

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