John Ransom

Medical research has indicated that people like schizophrenics, or people suffering from mania, cannot distinguish between voices outside of themselves and the self-talk that goes inside their head. It’s just a simple biologic matter of that particular brain not being able to make that distinction.

Democrats have that same problem.

And here’s why: the only voices that are truly outside Democrats’ heads are voices from the opposition that they pay no attention to.

Criticism to Democrats is like a dog whistle. They just can’t hear that frequency.

The media, the bureaucracy, the economists, the government funded nongovernmental organizations and academia all speak inside the Democrat brain. And Democrats can’t distinguish this internal self-talk from legitimate outside praise.

So like people who suffer from delusions, it’s just a simple matter of Democrats not being able to make the distinction between self-talk and reality.

Yesterday on Ransom Notes Radio we ran a clip of Mike McKee, the eternal optimist for Bloomberg (media), talking about how the numbers indicated that we could be looking at 4% annual growth in GDP this quarter.

Of course I made fun of him, and today it's hard for me to see how recent consumer spending numbers would be consistent with that type of robust GDP growth. We have yet to see sustained economic growth under the Obama administration, or the Carter administration for that matter.

For the second day in a row the Commerce Department released numbers that caught economist off guard and demonstrated once again that all the "happy talk" about the economy is premature. In April consumer expenditures fell rather than rose, as economist widely expected. From Bloomberg:

Household purchases, which account for about 70 percent of the economy, dropped 0.1 percent, the first decrease in a year, after a revised 1 percent gain the prior month that was the strongest reading since August 2009, Commerce Department figures showed today in Washington. The median forecast of 77 economists in a Bloomberg survey called for a 0.2 percent April rise. Incomes advanced 0.3 percent after climbing 0.5 percent.

And since they can't blame the weather in April, what's the rationale to explain how they missed the decline in consumer spending? They blame the weather of course-- again.

John Ransom

John Ransom’s writings on politics and finance have appeared in the Los Angeles Business Journal, the Colorado Statesman, Pajamas Media and Registered Rep Magazine amongst others. Until 9/11, Ransom worked primarily in finance as an investment executive for NYSE member firm Raymond James and Associates, JW Charles and as a new business development executive at Mutual Service Corporation. He lives in San Diego. You can follow him on twitter @bamransom.

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