Monday, September 22, 2003

What if the economy should tank?

Bill Safire works a scenario where the Clintons are pushing for control of the Dems, over Dean who owes them nothing, by king-making Wes Clark. In so doing, Bill asks What if, as Christmas nears, the economy should tank and President bush becomes far more vulnerable?

Um, 3M lost jobs in 2 years, 6.1% unemployment (oh, and the direct marketers claim they will lose 2M fo their 4M jobs by christmas due to the national do-not-call list, containing 48M numbers -- a credible claim), a $500B deficit with no end of deficits in sight. Did anyone notice the huge gain in productivity in the second quarter (6.8%, vs. 2.1 in the 1st?) -- that's the sound of workers being squeezed. Want to know how long THAT lasts? Not 3 quarters.

Bill, the economy IS tanking. It's not like the economy is a random walk -- you can see it coming over the hill.

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