A Crummy Recovery

This is what some numbskull submitted to Bloomberg on October 10th:

“The U.S. has likely dodged a recession for now, even though it’s too early to sound the all-clear for the economy. A string of stronger-than-projected statistics – capped by the news on Oct. 7 of a 103,000 rise in payrolls last month – has prompted economists at Goldman Sachs Group Inc. and Macroeconomic Advisers LLC to raise their growth forecasts for third quarter growth to 2.5 percent from about 2 percent. That’s nearly double the second quarter’s 1.3 percent rate and would be the fastest growth in a year.

“‘The U.S. economy doesn’t look like it’s double-dipping at all,’ said Allen Sinai, president of Decision Economics, Inc. in New York. ‘But it is a crummy recovery.’

“That recovery still faces what economist Chris Rupkey in New York calls ‘a lot of headwinds.’ These range from the sovereign-debt crisis in the euro-zone – and increasing likelihood of a recession there – to political gridlock in the U.S. over budget.

“‘We can skirt a recession,’ said Rupkey, chief economist at Bank of Tokyo-Mitsubishi UFJ Ltd. ‘But if headlines worsen in Europe and cause a major stock-market rout, it could lead to a loss of confidence here on the part of businesses and make forecasts for a recession a reality.'” –

If lying was a crime these guys would be lifers.

“Economists” at Goldman Sachs and Macroeconomic Advisers LLC already know that, of the 103,000 who were added the nation’s payrolls last month, 47,000 were returning Verizon workers who had been on strike. Rather than pick up on the Labor Department’s duplicity, however, these moochers used that 103,000 figure hoping it would silence “Occupy Wall Street” movement now protesting the activities of the Wall Street multi-millionaires.

Those doing the protesting, though, are gaining support by the minute and now number in the hundreds of thousands. You can expect to see millions on the streets of U.S. cities and towns within the next few days. They aren’t swallowing the spinnage emanating from “economists” like Allen Sinai and Chris Rupkey. Those guys are really shills – plants – not economists. Their assignment is to keep pushing the “recovery” theme. The hoi polloi will never catch on.

But that’s where they’ve miscalculated. The little people are catching on – by the thousands every minute – and Wall Street is becoming uneasy, by the thousands every minute. That’s the reason Sinai, Rupkey, and shills like them are loudly insisting that economic “growth” is being stymied only by “sovereign debt” and “political gridlock”. They don’t even mention the word “unemployment”. Heck no. They talk about a “rise in payrolls” instead.

They’re worse than common liars.