s skippy the bush kangaroo

skippy the bush kangaroo

Tuesday, July 23, 2002

daily rant about the economy

ok, kids, all together now, one, two three: the market is tanking again. yes, yes, i know this blog is beginning to sound like a broken record (a metaphor understood only by people over 30). but paul krugman at the new york times echoes our sentiments in his article living with bears, to wit: pep talks from poor mr. bush not only don't seem to help, they are transparently what cartoonists call "the illusion of movement."

not only do the pep talks seem desparate, mr. krugman writes, "most important, the fundamentals aren't actually all that great. doubts about corporate governance are growing, not fading away. state and local governments are in a desperate fiscal crisis. and even before the sudden plunge in the markets, the data were pointing not to a boom but to a "jobless recovery," in which the economy grows too slowly to make much if any dent in the unemployment rate."

posted by skippy at 5:25 PM |


commented by Blogger سما احمد, 3:15 PM PST  

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