I am reminded of the scene late in the movie "Animal House" when the crowd is stampeding and the character played by Kevin Bacon is screaming "all is well...all is well" just before he is trampled.
The Red Shed, the Fed, the MSM...the usual suspects in other words...would have us believe that all IS well, that the worst is behind us now.
- At the same time they grudgingly admit that unemployment will stay bad until well into 2011, and the economy will stay 'soft' for some time yet.
All comforting words. Small words. Move along now, nothing to see here.
Certainly nothing as disturbing as a Kondratieff Wave that indicates we have nothing to fear except the Koolaid being offered us by Team Obama.
The REAL pain has not yet appeared on the horizon. Look for yourself and decide:
Would THEY lie to US? 
Thursday 13 August 2009
But "all is well..."..........................from Rico
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1 comment:
That graph's out of date. A lot has happened economically since December 2000! It also neglects an important part of the K-wave: the effect of technological innovations on world economic growth.
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