The big unreported story of the week was the trade deficit number.
While the Olympics and Charley are dominating the weekend wires,
there could be Hell to Pay on Monday because of that RECORD TRADE
DEFICIT.
Worse yet, it was up nearly 20% from the prior record. Clearly there
is a major STRUCTURAL PROBLEM that has been ignored for years and
that is now kicking in big time.
The problem with the manufacturing and jobs numbers as I see it, is
that there is this hope against hope that THINGS WILL "COME BACK."
But, when the G-Man and Kongress have set up the US economy as A ONE
WAY STREET, with all arrows pointing OUT OF THE US;
HOW CAN ANYTHING COME BACK?
THIS NAIEVE AND EXCESSIVE OPTIMISM ON EVERY LITTLE QUIVER OF THE DATA POINTS IS JUST ABSURD, AND A LITTLE BIT SAD REALLY.
FOR SOME REASON, THE POWER ELITES ARE AFRAID TO 'FESS UP TO THE
REALITIES ON THE GROUND IN THE US ECONOMY.
NOT UNLIKE THEIR SAME UNWILLINGNESS TO 'FESS UP TO WHAT'S NOW
HAPPENING IN IRAQ.
AND OIL? DON'T EVEN ASK....I DON'T THINK YOU WANT TO KNOW.
Or, you might adopt the "Dubya World View" that IGNORANCE IS BLISS!
SO, LET'S JUST STICK WITH THEM "EASY" WEDGE ISSUES!
DAMN THOSE GAY MARRIAGES......WE NEED A CONSITITUTIONAL AMENDMENT!
POSTSCRIPT: BLACK MONDAY NEXT WEEK WOULD BE VERY VERY "APPROPRIATE"
DON'T YOU THINK. BECAUSE, JUST THE HURRICANE NEWS WOULD MAKE THAT A
NEAR SURE THING!
http://biz.yahoo.com/ap/040813/economy_17.html
