Your Wednesday Afternoon Dose of Doom and Gloom
January 25th, 2012 - 12:11 pm
The latest Fed predictions, courtesy of Tyler Durden:
FOMC: 2012 GROWTH AT 2.2%-2.7% VS 2.5%-2.9% IN NOV. FORECAST
ELEVEN OF 17 FED OFFICIALS SEE MAIN RATE ABOVE 0.25% IN 2014
SIX OF 17 FED OFFICIALS SEE NO RATE INCREASE BEFORE 2015
FOMC DOESN’T SET SPECIFIC LONG-RUN GOAL FOR EMPLOYMENT LEVEL
In other words: Continued suckitude for the foreseeable future.
Of course you know that the root cause of this problem is that you people in the private sector have too much money.
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Is it just me or has every single Fed outlook prediction of the past year or so involved a downward revision as the future gets closer? I am reminded of the Japanese civilians during WWII who knew their side was losing when the “great victories” announced in news reports kept getting closer to the Home Islands.
That’s a good point. I’ve been saying that the biggest most negative impact of the last few years is that as a Nation, we no longer believe ANY data given by the government because even those who don’t wish to see it, know that its all run through a political filter before its sent out to people paying the bills.
I used to say that weather forecasts were the only information produced by the government that was 1) Useful to everyone 2) Not political. That is demonstrably no longer true. Its also an indication of just how bad the problem is with the data coming from the Government. If you cant talk about weather in a neutral fact based way, how in the hell can you talk about something like the economy?
Must all government data go through some campaign office to make sure it benefits the right people in the right way before its released? Well, that’s the system we have today.
“I am reminded of the Japanese civilians during WWII who knew their side was losing when the “great victories” announced in news reports kept getting closer to the Home Islands.”
Cool, kinda like the unemployment rate “going down” because the workforce keeps shrinking. There’s only one way to fix this: from now on, only state-approved experts will be allowed to do math.
Yes. Our friend Ostupid may actually break FDR’s record. Maybe we’ll finally have an answer to the old liberal, “Well, it would have been much worse if FDR didn’t tweak the Constitution” bullshit. I’m sure Odumbo wants to do much better. Look out! Iran, Obumbles is channeling FDR, you’re next! Don’t you see the resemblence to Patton, yet?
Try not to think about Mussolini…just squint a bit…just a bit more…