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Stagnation, the New Normal

bruce130 Wrote: Feb 01, 2013 1:06 PM
If all the people that are unemployed were lined up waiting to get a bowl of soup and some bread instead of sitting at home watching cable on their large screens munching on all the goodies they got with their food stamps while waiting for their welfare checks, S.S.I., overextended unemployment benefits or college grant money talking on their free cell phones, it would be easier to see how bad this situation is. Poverty is the new middle class, and no work is required to achieve it! I'm so sick of working for these bums I'm almost ready to join them. But, like Hillary says, "what difference does it make?"
So, U.S. consumer confidence unexpectedly plunged in January to its lowest level in more than a year. The U.S. economy unexpectedly posted a contraction in the fourth quarter of 2012 -- for the first time since the recession -- "defying" expectations that economic growth is in our future.

If the economy were as vibrant as President Barack Obama has told us it is, a belt tightening in a single sector of government surely wouldn't be enough to bring about "negative growth." But one did. Unexpectedly. No worries, though. Pundits on the left tell us that this contraction was good news -- possibly...