SEARCH BLOG: POLITICS
We live in troubled times. World economies were hit by years of accumulated corruption and manipulation. Is it a wonder that people feel upset and lack confidence.
Consumer sentiment slips to 16-year lowWhile our government now scrambles to diffuse the anger of its citizens who feel they cannot trust big business, big government, or the "change" that was promised to them, AIG is the current poster-boy for what ails the country. AIG is the financial giant that precipitated a big part of the meltdown. They were the company that made Sen. Dodd of Massachusetts the recipient of large sums of campaign contributions... more than $280,000 over the last 20 years. They were the company that Sen. Dodd insisted have the right to pay bonuses to their executives despite massive loans from the Federal government. They are the company that Sen. Dodd now vilifies as he tries to deflect attention from his own shady actions.WASHINGTON (MarketWatch) -- U.S. consumer sentiment slipped again in March, but not as much as expected, according to media reports Friday.The University of Michigan/Reuters index tracking consumer sentiment dipped to 70.5 in March from 70.8 in February. The March reading came in above the 69.0 expected by economists. See Economic Calendar.
Still, it was the lowest in 16 years.The expectations index fell to 61.4 from 62.4, also the lowest since early 1992. However, the current conditions index for March improved to 84.6 from 83.8 in February.Consumers' expectations for inflation over the next year jumped to 4.5% from 3.7% in February, an increase that "cannot be interpreted as anything other than troubling," wrote Joseph Brusuelas, chief U.S. economist for IDEAglobal.
Meanwhile, Barney Frank continues his own version of the Mad Hatter by blithely disregarding death threats made against AIG executives as he demanded their personal information be made public. That's the same Barney Frank who did such a marvelous job with Fannie Mae in screwing up the mortgage industry.
Yes, the people of the U.S. have expressed some pretty deep pessimism with the present situation... and their probable future. It's that way all over the world, isn't it?
Well, maybe not all over the world.
ABC News, via HotAir
These are the same purveyors of "hope and change" that want to have U.S. military personnel who were injured in the line of duty pay for the insurance to cover their treatment.
Small wonder that the Iraqis have a better attitude toward their war-torn existence than Americans have toward a nation under the thumbs of the biggest liars and manipulators in its history.
Strangely, that ABC video sounded an awful lot like Pres. Bush's strategy... with the results he was predicting. That's the same Pres. Bush that was called a buffoon by Pres. Obama's supporters. Makes you wonder just a little bit, doesn't it?..