The news in the paper, she is not so good.
But we read lagging indicators of economic health, of course. We are reaping the debt obligations and excess consumption of years past. President Obama is taking on the herculean task of recommitting the country to investment over consumption and demanding special interests put the country's interests first. As long as the country follows the President's wise lead, we will successfully prevail in one of the greatest economic wars since the Great Depression.
Unless you want President Obama and the country to fail because you are a tired hack trying to regain political power after screwing up the country royally, the important thing for you to remember is the Federal Reserve and the Administration - in concert with governments around the free world - have used some of the most powerful financial medicine available in a historically expeditious manner. The option of hoarding cash will not be safe, and thus investment and thoughtful consumption will be seen as the prudent course. Monetary and fiscal expansionary policies employed around the world will keep unemployment from further reducing economic activity and reaching ill-advised and possibly even politically destabilizing levels.
In a curious way, the economic war being fought domestically and on several fronts around the world (particularly Eastern Europe) may herald an era of unprecedented peace and prosperity, as national priorities are reexamined in a way unlikely to occur when times are good (enough). If President Obama successfully rights the economy by addressing global warming, foreign oil dependence, pollution, health care, education, domestic infrastructure, foreign relations and financial reform, he will be exalted around the country and the world, while the chorus of naysayer's will just fade into oblivion.
Donna Summer "I Will Go with You (Con te partirò)"
