Gloom, Boom, Doom, Got Your Back, and …… Oops

Sunday, July 17, 2011

This post has a little bit of gloom (“The US Federal Reserve gave a downbeat assessment of the world’s largest economy on Wednesday, pointing to a slower than expected growth and higher inflation”); a dash of boom (the Congressional Budget Office said that debt would be 69% of GDP this year, potentially rising to 101% of GDP in ten years); and a waterfall of doom (“U.S. state and local governments will need to raise taxes by $1,398 per household every year for the next 30 years if they are to fully fund their pension systems.”).

The solution? New government borrowings and a new stimulus package, of course. Remember when Jim Cramer said, in 2007, that “the Fed has got your back”? With a knife, maybe?

And then there is the oops (food prices were near a record high for June).

Be Sociable, Share!
You can leave a response, or trackback from your own site.

Leave a Reply