The only thing standing in the way of the recession receding is the consumer. People are just not consuming enough. Did you know consumer spending drives two-thirds of the nation's economy?
In other stories the labor market is still weak but many areas are reporting fewer jobs lost. Really? How many jobs are left to lose? How many people can be laid off before everything comes to a grinding halt. Of course there is a decrease in newly unemployed, there's no one left to fire. Jeeze!
Now if only all those unemployed people will just go out and spend money they don't have on stuff they don't need, keeping in mind they can't afford the things they DO need like food and shelter, well hell, this whole economic mess would just turn itself right around.
Seems like a catch-22 doesn't it? The economy will recover if people will just spend more but they can't because they don't have jobs or money because...you see where that's going right?
I read the business section first and wind up spitting up my coffee as I laugh - derisively. Once I've moved on to the comics I can safely eat breakfast knowing that choking on my outrage is no longer a danger.
Don't you love how all of these banker and brokers are still getting their multi-million dollar bonuses? Oh wait, it was in the contract that was signed before the government said they couldn't. Yeah, right. And those retention bonuses? I loved that whole concept, didn't you? Why are we (yes, WE) paying to retain people who couldn't do their jobs right the first time around? Retain them - where the hell are they going to go? Offer them a cut in pay, tell them if they don't like it, they can go elsewhere. Oh, wait there is no elsewhere.
Which turnip truck do these people think we all fell off of?