Headlines barely hint at what has become painfully obvious in recent weeks as economic indicators continue to reveal grim realities regarding the fiscal health of the United States.
Reuters New York Reports February private sector job losses at 697,000–nearly 3/4 million jobs lost in one month!
Local job fairs here in Columbus, Ohio attract thousands. At similar events across the country, crowds queue up early, encircling buildings to await entry. Hiring managers are buried under reams of resumes for each–even part-time advertised opening.
All those years of Bush burying bad news, focusing on housing starts and mortgage sales propped up by liar loans encouraged by under regulated banks that once pushed the market to unprecedented highs ended abruptly when the house of cards collapsed. And now, the truth hurts.
It took SO long for Bush to concede that our economy was in a recession, I’d guess that he’s in denial about his contribution to perhaps the greatest global financial crisis in history.
If this isn’t a depression, why is it so depressing?”