It would better for the country, say progressive economists, if the unemployment rate was higher. And things are so bad that they are right. It takes a lot to get me to agree with Keynesians.
But although I agree with the premise, I don't agree with their solution.
I have something cooler in mind.
Well, first the good news: Congress has gone home. And now comes word that a major winter storm has shut down the rest of Washington, D.C.
The Democrat National Committee is meeting, even as you read this, on ways to blame the winter shutdown on Senator Ted Cruz (R- “I-Told-You-So”) and his Tea Party Weather machine, which he purchased from Mikkos Cassadine off the set of General Hospital.
Word is that Cruz will call off the winter weather for a $1 MILLION cut in spending over ten years, but the Democrats have balked at the cuts as harmful to the economy; an economy, which they point out, is better than it’s EVER been under ANY president EVER.
The shutdown is expected to cost the economy $8 billion say the Democrats.
That’s it for the good news.
This is where is all went wrong: Note above flywheel housing the hamsters that power the "calculating machine." Image Source: ModernMechanix.com
Because then there’s retail sales, which fell more than expected, which is BAD news. And let’s face it, it’s hard these days to tell which bad news is good and which good news is bad without a micrometer.
Today, at 11:20 AM PT: Get the Market Movements in Advance: William's Edge Webinar for October 24th, 2014 | John Ransom
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Today, at 11:20 AM PT: Get the Market Movements in Advance; Williams Edge Webinar for October 20th, 2014 | John Ransom