Conservative Republican thoughts from central Pennsylvania, named after James Carville's famous remark.
Pfah! Don't try to confuse us with your precious "facts."Though I would contend that there are probably other indicators out there that supported the statement when Clinton made it. You can always pick what you want to prove your point, even if it's something like "Americans bought more puppies in 1996 than they had since 1968!"~MJA
You're right in your Liars-Know-How-To-Figure sentiment, but I was impressed with the fact that total numbers were lower, which considering how the population/workforce has grown is more impressive than the raw figures.
What's your feeling on direction? I think the general consensus in '96 was that things were on their way up, whereas now there's much doom and gloom in the economic predictions. Like we're Wiley Coyote just after running off the cliff. Not yet falling, but afraid to look down.~MJA
My completely unfounded prediction is a mild recession. Possibly not even "two quarters of neg GDP growth", but some ephemeral NBER recession. Maybe 5.5%-ish unemployment. Not Armageddon, but maybe enough to impact the election.I think the Armageddon trade was taken off the table with the Bear Sterns tomfoolery and Fed actions. That's not to say there isn't some pain yet to be felt.But the Herbert Hoover stuff from Schumer is asinine, especially considering which party's policies more closely resemble Hoover's.Killing the Colombia deal? That's just the start.Do we really think that any member of Congress has any visceral read on the economy? They're a pretty insulated crowd. To the extent that Schumer is plugged in to Wall Street, the financial sector was the hardest hit, so that will color his opinion.
'Do we really think that any member of Congress has any visceral read on the economy?'That is an excellent point and I sincerely wish I had thought of it myself. Not only does understanding the modern economy require significantly more schooling/education than previously, but there is a huge disconnect between members of Congress and Joe Blow off the street.
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