| Opinion/Editorial |
Talk about being a waterboy for the Obama regime the New York Times fits the bill to a tee.
This mornings lead OPED entitled "No Seasonal Fix for the Economy."
The water carrying begins "Some economic forecasters have pinned their hopes for an improvement in the economy on this year’s early Easter to boost consumer spending after a brutal winter.
That outlook has a dispiritingly familiar ring to it. In recent years, bad weather has often been blamed for weaker than expected economic performance while the prospect of Easter shopping and warmer weather has been seen as a sure catalyst for growth.
To some extent, the economy does move up and down with the seasons. But time and again in the current recovery, seasonal upswings have not heralded sustainable improvements. The economy faces tougher problems than the weather, and there are no easy or automatic fixes.
For instance, the economy was supposed to take off as unemployment fell. But unemployment is way down from its recession-era high, and there has been no big upsurge. Similarly, exports were supposed to help lead an economic revival. But the expected growth in exports has not occurred of late."
I don't believe numbers anymore all bullshit.
It continues "To its credit, the Federal Reserve is facing those issues. In its latest statements and projections, issued last week, it did not flinch from marking down its earlier projections for economic growth and price inflation through 2017 — signaling that the economy is weaker than was thought to be the case only a few months ago. The markdowns also reflect underlying weaknesses in the economy that will not be corrected without fundamental changes.
Accordingly, the Fed embraced a fundamental change last week when it acknowledged that unemployment can fall further than previously believed without causing inflation. That acknowledgment will allow the Fed to keep stimulating the economy, and encourage job growth, with loose monetary policy for the foreseeable future.
What the Fed cannot directly affect is how much employers pay their workers. Stagnant and low pay is a decades-long phenomenon, but in the past its negative economic effects were masked partly by the growing participation of women in the work force and by easy credit for cash-strapped households. The former has run its course, and the latter has justifiably been curtailed.Moreover, in the current recovery, rising economic growth and rising job growth have so far failed to push up pay appreciably. Without higher wages, the needs and wants of everyday life, let alone the luxuries, remain out of reach for many families, and as a result the economy remains in low gear. Changing that dynamic will require policy changes beyond the Fed’s purview, including a higher minimum wage, updated rules for overtime pay, stronger support for collective bargaining, better enforcement of wage and hour laws and tougher trade pacts."
No shit Sherlock the economy is weaker than ever under this Obama regime. It's common sense.
Congress has thus far not moved in any of those areas, though many lawmakers appear prepared to demand provisions in upcoming trade deals that would prevent currency manipulation that disadvantages American businesses and workers. States have a mixed record, with several of them raising their minimum wages, but others working to weaken collective bargaining.
Janet Yellen, the Fed chairwoman, has made it clear that she wants to see wage growth before she declares the labor market healthy. But where is that wage growth going to come from?
Oh when all else fails blame Congress but they are no different than Obama
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