MY FAVORITE BLOG POST OF THE DAY...
...was this bit of utter bollocks from A.J. Strata at the Strata-Sphere:
Sorry Dems - No Recession, Just Slow Growth
Life is not working out well for the Democrats who need to sow the seeds of doom and gloom in order to gain or hold power. They need to create the image of a battered and beaten America under Bush before the reality hits Americans that the Dems are the ones battered and beaten - and who lied to them.
If the Iraq and Afghan wars go well this summer - which all indications are they will - then the Dem fallback plan has been to moan about the economy. Working in their favor (primarily because they have let the energy crisis worsen by not passing any new policies in their defunct Congress) is the energy costs, which are hitting the pocket books of folks hard. Also in the favor is the real-estate price bubble correction currently playing out. Food prices are also up. But the best thing for the dems would be a recession, then they could really swoon about the evil GOP and Bush.
Sadly for them there is no recession coming to America anytime soon. In fact, if oil prices began to moderate again (which they very will could) and the real estate market finished making its corrections (which it will) then there could be an economic explosion as the pressures on the economy are released.
That would really hurt the dems, who now run on America's failure as the only hope for their own gains in political power.
Wow. Just wow.
Yes, it's quite likely that voters will pay absolutely no attention to $4-a-gallon gas, home prices falling at the fastest pace in 20 years, or, say, the 20% price increase on all Dow Chemical's products (including Dove soap, Pampers, and all Procter & Gamble products), because what they really care about isn't their own financial pain, but whether the current conditions meet economists' definition of the word "recession." I mean, isn't that how you feel? Don't you pore over the numbers every quarter and say, "Who cares if I personally am one paycheck away from the poorhouse -- thanks to strong demand for luxury goods and services, GDP growth persists! And that's really all that matters! As long as we don't have two consecutive quarters of negative growth, who cares if I have to skip meals and take only half the recommended dose of the prescription medicine that keeps me alive!"
And no, you weren't hallucinating. He really said this:
there could be an economic explosion as the pressures on the economy are released.
Yes, really -- between now and November! Prosperity is just around the corner! Every time it rains, it rains pennies from heaven!