Tuesday, January 11, 2011

No real signs of economic growth

President Barack Obama sees a clear and encouraging trend on the economy, citing fresh reports showing private-sector job growth and lower unemployment.

He used his weekly radio and Internet address Saturday to discuss the latest economic news and press for bipartisan action in the newly divided Congress on measures to spur growth. Obama presented the December jobs report in a positive light even though it fell short of what economists had been looking for and even though the drop in unemployment came partly because some people stopped looking for work.


When you've spent trillions of borrowed Chinese dollars on three unsuccessful attempts to jump start the economy, and unemployment drops only because people stopped looking for work and are resigned to joining the long term unemployed, there are no positive signs of economic growth.

It's a shame that the media refuses to call bull on such spin.

No comments: