Recession? Depression must be just around the corner!

Posted on January 24, 2008

The Clintons, the left and the Media are all trying their damnedest to convince us we are in a recession. The way they talk you’d be sure we are just days away from “Apple Annie” selling her mackintoshes on the street corner for pennies. Read Don Surber’s take on “Apple Steve” Jobs and his struggling Apple enterprise being pummeled for only increasing by 57% last year.

Sure - the auto industry and housing are in difficult times. Name two other industries with comparable heavy loads of government regulation. With Congress piling on new CAFE standards, ever tougher emissions regulations and safety requirements it is remarkable any companies want to build cars. Even Mercedes decided owning one of the “Big Three” was a bad investment.

Tried to build a house lately? Can’t build the same house today I built for my daughter in 1999. The building codes and federal energy standards would require several expensive changes. Federal intervention in mortgage lending caused the problems with that business and now they want to meddle further to fix the problem they created.

Even with all that the actual economy is still chugging along just fine. In fact the last quarter of data on the GDP says the whole economy was chugging like a space ship headed out past the ozone - Oh yeah - Virgin is just months away from taking people on their little “space ship” into weightless space. The economy grew at an almost 5% annual rate in the third Q of ‘07. That rate was and is unsustainable - it would lead to inflation. Sanity and the markets require a slower pace. Looks like we will get it, maybe only a 4% rate this current quarter. That is a still respectable rate of growth!

The economy is not shrinking - with negative growth rates - that is a depression. We are a long way from that. Get government out of the way or just to stop new regulations and the economy will start ripping again. Want more jobs? Tell Congress to take a year off from passing new laws.

The left and their media mouthpieces see a recession as the best way to get the Clintons back in the White House. They are determined to convince the public something is wrong - that was how Bill got in - remember his campaign’s slogan “It is the economy stupid”.

Just remember how Algore kept saying “What is down should be up”? Remember all the pain and misery of that “bad economy”? No - well that’s no surprise because there wasn’t any. There was not a problem with the economy then, and there is nothing wrong with it now!

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