Uh oh, there it is, looming back up out of the slime. Yes, the Obama economy is back.
Just when you thought things were getting better, the Wall Street Journal reports today that this all may be another case of Lucy holding the football for Charlie Brown.
As is well known, George W. Bush is behind the scenes pulling all the strings on this economy. And he’s back, purposely wrecking everything for President Obama.
From the Journal:
Many investors entered the year thinking the U.S. was poised to finally break out of its slow 2 percent growth path. A series of weak reports on U.S. car sales, manufacturing, home sales and hiring have created doubts about whether a faster growth rate is actually achievable this year.
The Dow is down 7 percent so far this year.
“Maybe the U.S. will not have the solid year everybody had been expecting,” said Kenneth Rogoff, a Harvard University economist. That doubt, he said, stands in contrast to the vibe he picked up while hobnobbing in Davos, Switzerland, with business executives and policy makers last month. There, he said, he sensed, “this incredible optimism that nothing could wrong” in the global economy.
Just for context, and I hope I’m not getting too technical with these economic terms here, but TWO PERCENT GROWTH SUCKS.
This economy has never taken off. It’s been five years. Obama has never fired any of his economic advisors. In fact, they’re all strutting around the West Wing as if they’re doing a great job.
The jobs report will be out Friday, and will give some further indication of what’s going on. Hopefully it won’t confirm the bad news.