Ben Smith is a good reporter, but it’s rather astounding that he can write an entire article headlined, “W.H. dilemma: When to declare recovery” and the words “Recovery Summer” don’t appear in it.
The White House is caught between wanting to tout the administration’s economic accomplishments – and possibly helping to shape the nation’s fiscal mood – and the fear of offending voters by hailing a recovery that many of them have yet to experience.
Er… they already have. They spent most of 2010 doing this.
Recovery Summer V2...
Smaller size and better features. Or is it, smaller size and less features. Or, just exactly like the last one.
Reply to this commentLinkReport AbuseI like Recovery Summer V2 - Electric Boogaloo.
Reply to this commentLinkReport AbuseOr as Larry Miller would call it, Recovery Summer II: The Quickening.
Reply to this commentLinkReport AbuseNo way that is happening. The whole Japan crises will have so much unknown in the global system, and much of it affects us directly that there won't be a recovery this summer.
Parts or actual products from Japan will bring much of our own to a halt, or so slowed down that it might cause a double dip. It could be much worse if they dump our debt as well. Regardless they have to do what they have to do as they have ALOT to do and it won't be pretty no matter what they do.
That whole situation puts a dent in the global recovery. It hurt everyones energy situation, product availability situation, commodities will have to go up even more as they just lost their ability to produce for themselves to a large degree and will need to be supported until they get things back online, however long that takes and whatever form that comes in. Japan is in the nation building phase, rebuilding their own. The #3 economy on the planet and our #2 debt lender, #3 trading partner, etc. We get to ride a big part of this out with them for the long haul.
They have 250% debt to GDP prior to this disaster, well their GDP is tanking for a long while as they figure out energy, food, shelter, etc. None of that gets fixed or functional quickly for status quo.
Our economy will be worse by election time than it is now. Our debt will be much higher as well. I wouldn't even be thinking recovery if I were the President In-Thief. He better be preparing people for reality.
Higher prices
Higher fuel
More job losses
Possible Double Dip
Possible Real Estate Double Dip
This last situation involving Japan has huge impact on all of the above. That isn't even factoring in the worst case of the nuclear issue. Worst case won't be massive deaths etc, but it might render a pretty large section of Japan uninhabitable forever, or affect much needed farming regions etc. 160 miles from Tokyo too, OUCH!
Reply to this commentLinkReport Abuse"Ben Smith is a good reporter,"
Did I miss something? When did Smith become a good reporter? Just because the JourNoList vanished (or we haven't found the new one) doesn't mean he got promoted to "good". I definitely wouldn't put him in the "unbiased" category.
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