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Some Good News About The Economy?

It's still very, very early, and it's way too easy to prematurely paint a rosy picture. But some new early evidence suggests that President Obama might just be turning around the public mood about the economy and the recession might just be slowing down a little. Some new evidence suggests that although retail sales have taken their 5th straight monthly decline, that the decline is not nearly as bad as expected by economic analysts. This might be a positive sign that a sales rebound might be soon coming within a few months. And further evidence suggests that new unemployment claims might be slowing down a little as well.

But the most stark evidence of a possible looming recovery comes from some impressive new polling results coming out of Rasmussen. This week 35% of respondents believe that the nation is now headed in the right direction, which compares to 30% the week before, and 28% the week before that. This is pretty good evidence that President Obama is beginning to inspire some faith that his hands on management style is beginning to instill some faith building by the public.

But there is still plenty of bad news to dampen spirits as well. GM appears to be in a near hopeless situation according to a dire new report. The stock market continues to hover at very low levels that it hasn't seen in several years. And the number of home foreclosures and retail store closings seems to be only worsening. However, the few new positive signs might mean that this recession might well be bottoming out very soon, and some signs of a recovery might be possible soon. In fact, since so much of American industrial capacity is now unused at this point, there is a huge potential for an industrial rebound and large employment gains there in the future.

I know that after the 2003 war in Iraq began to lag some supporters of that war were very quick to want to declare victory and success anytime a little good news came along, ignoring the very tough road to stability ahead. And equally, it is very easy to do the same here with this recession and ignore that a rebound will long and tough. But a few faint signs of a pulse and heartbeat are out there today. And President Obama might just be succeeding in slowly building up the public hope, trust and confidence required to help fuel a strong economic recovery.

On Friday, the final unemployment figures for February will be released. And these might be a good indicator whether this recession is slowing down a bit or not. But the few good signs out there including some money futures set for a few months from now might all indicate that this recession might just be bottoming out soon, and a few decent signs of a rebuilding might be coming soon.

In recent days, radio talk host Rush Limbaugh had hoped to take advantage of the continued bad news about the economy to destabilize the position of new Republican Party Chairman Michael Steel as well as to undermine President Obama. However, if recovery comes soon it will be Rush Limbaugh who will left as the odd man out, and his own position weakened as once again being wrong on too many issues. Good news and economic recovery will once again reduce Limbaugh's core of support to his fringe of true believers, while the rest of the public will go about the business of getting the economy moving again. Rush Limbaugh has no cabinet or core of experts and advisors like the president does. The president only needs a little good news to prove that so many experts can be right and one lone radio talk show host can be wrong.

With an annual salary of $33 million dollars a year to survive on, Rush Limbaugh might wish for economic disaster to impact others to drive them to his political side for his own purposes. But for average citizens, President Obama is quickly working to shore up the economy, reduce unemployment, reduce health care costs and stabilize this current crisis because it's the right thing for the nation he loves. Mr. Obama already misses his past life where he could travel as he pleases anywhere, so he could always attempt to do the best that he can for the country for four years and not even seek re-election. That's the real core values of a real public servant. There's a huge difference in the motivations here between Limbaugh and Obama..


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Comments (7)

epador:

Paul, was that straight or satire?

I think he's eating and partying with a much more highfalutin crowd than he was in Chicago, and now on the US taxpayers' expense rather than just Illinois taxpayers'. (that's straight)

Did he fire the White House cook so he could help save money and put AF One for sale on e-Bay? (now THAT was sarcasm/satire)

Paul Hooson:

Hello Epador, I know that it's very difficult to offer up much positive news about the economy on a day when Wall Street is down 281.40 points and GM is seriously considering throwing in the towel. This economy is very similar to 1930's Great Depression one. But we only have one president at time, and whether we support him or not, we should want good times under him. Just today, my brother and I were talking about the period of economic growth during part of the Reagan years, and i told my brother that I was glad to have that even if I never voted for the guy.

There was a little good news on some fronts this morning when I first wrote this post. But by afternoon, plenty of bad news existed to cast more dark shadows.

It will take a bipartisan effort to get out of this mess which is a greater risk for America by far than 9/11. 9/11 only felled two large buildings. This economy is wiping out entire companies such a GM. Mr. Limbaugh should constructively add to this debate instead if betting against his own nation.

irongrampa:


How on earth can you walk straight, spinning like that? Perhaps you may wish to take another look at the situation and the policies set forth to counter this mess.

As it stands, a better method of insuring long term misery with no recovery could hardly have been devised.

fustian:

The market is hugely unimpressed by Obama's hands on management style. They're pretty baffled by the whole notion of trying to tax your way out of a depression. That's the kind of thing you'd usually see in a Zimbabwe or North Korea.

It hasn't worked for them either.

But keep on hoping.

Because, you know, retail sales may only be horrible this month. And 35% of the population are morons. Funny, after the last election, I'd have sworn it was higher.

MichaelC:

Astonishing to me that there is anyone who thinks that all that happened on 911 is two large buildings fell. There were quite a few dead bodies involved not to mention the ripple effect out into the mind of the world. Things of that magnitude do not happen in a vacuum.

Two buildings fell down. How empty your teeny little mind must feel. Do you hear any echoes in there?

Allen:

I voted for Obama because I'm a conservative. Couldn't stomach the Radical Right Limbaugh Republicans. But there won't be an alternative "conservative" party until the failure of the RRLRs is complete. So give the Democrats the keys and let them drive. Yes, they'll run up the deficit, but not as much as Bush did. And maybe they'll actually fix things up enough that the country can go to a more conservative view.

Perhaps the common thread here is that the GOP rewards ignorance, and that's why you get guys who've never fought in a war agitating for more and more wars, or guys who've never won an election (at least, not any time in the recent past) telling Republican politicians what they should be saying and doing.

Their biggest problem is not their philosophy. No their biggest problem is credibility. They have none whatsoever. They believe in limited government unless a woman wants to choose. The sanctity of marriage, unless a husband wants to pull his wife off life support. Returning money to the people, even though their states receive more money back from the federal government than the send to it. Small government and fiscal responsibility, except the last eight years have seen the biggest expansion in government since at least the Great Society and the worst fiscal mismanagement since Reagan. Their problem is hypocrisy. Do as I say and not as I do doesn't work with children, why the hell do these fools think it would work with adults?

LiberalNightmare:

>Yes, they'll run up the deficit, but not as much as Bush did.

Oh really?

The budget more than doubles the national debt held by the public, adding more to the debt than all previous presidents -- from George Washington to George W. Bush -- combined.
http://online.wsj.com/article/SB123629969453946717.html


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Publisher: Kevin Aylward

Editors: Lee Ward, Larkin, Paul S Hooson, and Steve Crickmore

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