‘Hope’ For Recovery Fading
Posted on 31. Jul, 2010 by Nathaniel Bacon in Business & Finance, Economy, Nathaniel Bacon
The recovery is fading, and a troubling new pattern is setting in: economic growth that is too slow to put Americans back to work. Gross domestic product, the broadest measure of economic activity, grew at a 2.4 percent annual rate in the April-through-June period, the government said Friday, down from 5 percent at the end of 2009 and 3.7 percent at the beginning of this year.
The good news is that it was the fourth consecutive quarter of economic growth and that the expansion continued despite a crisis overseas and palpitations in global financial markets. The bad news is that the growth was below the long-term trend rate at which the U.S. economy expands and is not strong enough to drive down unemployment. And more worrisome, many of the details of the report point to a continued slowdown of expansion this year.
Look at the Jim Jones donate food commercials at 3 in the morning, most of the people I see are white.
Of course it’s the white people who are most affected by these economic problems, because we typically have more to lose. The blacks and other darkies who are content to suck off the system aren’t in danger of losing anything (as long as Uncle Sambo keeps sending the checks and providing the housing).
American is going down the hill fast…
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