Why the economy still stinks

Crumpled American Dollar Bill On Red Graph Of Economic Loss

Blame the big corporations that are hoarding cash, waiting for the economy to rebound. Blame consumers for saving at record high levels, fearful of the economy falling back into recession and more hard times. Blame banks and investors for making huge loans available for corporations, so that they'll have even more cash from when the economy breaks out. Blame banks for having tightened credit so much that consumers--even credit-worthy ones--are having trouble financing homes, cars or other major purchases.

What's behind all this? Uncertainty, uncertainty, UNCERTAINTY!

The economy won't recover until fear recedes. And that won't happen until the government (i.e. President Barack Obama and the Democrats) stop fiddling with the economy, making everyone wondering what is coming next. Until Obama gives us a break.
The New York Times, of all things, helps explain some of this (but without the above partisan observations), diagnosing how expectations have become so uncertain that its affecting the economy. For the NYT primer, go here.

Filed under: Democrats, Economy, Politics

Tags: economy, politics

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