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US economy to contract 2pc this year, says Fed

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celticlord

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US economy to contract 2pc this year, says Fed - Telegraph

New Federal Reserve forecasts predict that the world's biggest economy will contract by as much as 2pc this year, an increase from the 1.3pc contraction previously estimated.
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Last month Dear Leader was saying the economy was improving.

Just yesterday he was saying things were getting back to normal.

I don't expect any President to magically wish the economy into instant prosperity, but it would be nice for the current President to at least have a grasp on the real state of the economy.
 
celticlord said:
US economy to contract 2pc this year, says Fed - Telegraph



Last month Dear Leader was saying the economy was improving.

Just yesterday he was saying things were getting back to normal.

I don't expect any President to magically wish the economy into instant prosperity, but it would be nice for the current President to at least have a grasp on the real state of the economy.
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The role of our President in this economic appears to be very similar to the Iraqi Information Minister during the American Invasion... "They will never make it, they have been stopped before our walls"... As he runs down the street.
No body believes that President's optimism is a reflection of the current state of the economy. I just don't think anybody would rather have Obama point out the painful obvious.
 
Arch Enemy said:
The role of our President in this economic appears to be very similar to the Iraqi Information Minister during the American Invasion... "They will never make it, they have been stopped before our walls"... As he runs down the street.
No body believes that President's optimism is a reflection of the current state of the economy. I just don't think anybody would rather have Obama point out the painful obvious.
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Certainly it's no fun to hear bad news. Still, talking about how good its getting when the statistics paint a different picture can only serve to undermine any nascent confidence in economic recovery that might be germinating. If telling the truth is not a good idea, he should be content to be silent--for once.
 
celticlord said:
Certainly it's no fun to hear bad news. Still, talking about how good its getting when the statistics paint a different picture can only serve to undermine any nascent confidence in economic recovery that might be germinating. If telling the truth is not a good idea, he should be content to be silent--for once.
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I feel that if he were to keep silent, then there would just be a thread about him keeping silent. I see him as a Basketball coach with 5 minutes left in the First Half and his team is down by 35 points. Sure, there is a second half and there should be an attempt to come-back, but what the hell do you do whenever you call time-out, or you are supposed to talk to your team? Just wait for the second half? You guys suck? We are losing? Remain silent?

Even through silence everyone knows what is going on. The team is not stupid. They are the ones losing the ball every 5 seconds, getting fouled, etc.
 
If your team lost by 4 goals last week and loses by 2 goals next week, would you say your team is improving?
 
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