WyBlog

Dear Santa, please leave coal in the Federal Reserve's stockings

Ben Bernanke and his band of Merry Men at the Federal Reserve want everyone to know that Happy Days Are Here Again.

Information received since the Federal Open Market Committee met in November confirms that the economic recovery is continuing,

Really? Do tell!

though at a rate that has been insufficient to bring down unemployment. Household spending is increasing at a moderate pace, but remains constrained by high unemployment, modest income growth, lower housing wealth, and tight credit. Business spending on equipment and software is rising, though less rapidly than earlier in the year, while investment in nonresidential structures continues to be weak. Employers remain reluctant to add to payrolls. The housing sector continues to be depressed.

Yeah, that's what I'd call a "continuing" economic recovery.

Consistent with its statutory mandate, the Committee seeks to foster maximum employment and price stability. Currently, the unemployment rate is elevated, and measures of underlying inflation are somewhat low, relative to levels that the Committee judges to be consistent, over the longer run, with its dual mandate. Although the Committee anticipates a gradual return to higher levels of resource utilization in a context of price stability, progress toward its objectives has been disappointingly slow.

Fed to America: Get a job already you ungrateful bastards. Don't you realize how hard we're working to "improve" the economy? What's wrong with you people, get out there and spend!

America to Santa: Can I Please Have some Food Stamps and an End to Obamunism?

Let's be honest, times stink (still). And the lion's share of responsibility lies at the feet of the far-left statists in Congress and the Obamanation, the havoc that they have wreaked upon our nation. People that have taken advantage of the panic in our economy two years back have essentially given us the malaise and stagnation that we face today.

I don't think Left Coast Rebel is on Ben Bernanke's Christmas card list.

USA Today has an article today that points to the widespread malaise, anecdotally pointed to by what children are asking Santa for (but without connecting the dots to socialist-progressive government).

The North Pole mailbag does not paint a very rosy picture.

Nobody tell Ebenezer Bernanke, he might get the idea that his economic recovery ain't all it's cracked up to be. And then who knows what'll happen when Hope and Change finally meets Tiny Tim.

Posted at 14:43 by Chris Wysocki   [/news]   Comments | Archived | Perm Link |
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