Monday, July 20, 2009

Summers Advising.

Good news on the economy!...or is it?

"Larry Summers, Obama's top economic adviser, thinks the White House is doing a great job with the economy. "We were at the brink of catastrophe at the beginning of the year, but we have walked a substantial distance back from the abyss," says Summers.

Speaking at the Peterson Institute for International Economics in Washington on Friday, his first "progress report" since March, Summers pointed to a string of promising (albeit obscure) signs of recovery: ...Google searches for "economic depression," which surged to quadruple their normal levels, have since returned to normal."

Doesn't this "advisor" know that other things might be happening if the Google search for "economic depression" is down? Such as, less people can afford computers and the Internet...or enough "economic depression" news is broadcast for people to feel like we are in an "economic depression" already so they feel helpless and that it won't matter if they Google it or not...

"A somewhat more important indicator--the unemployment rate--isn't as upbeat, though and has become a thorn in the administration's side. It hit 9.5% in June, embarrassing the administration's predictions that if their $787 billion stimulus were passed, the rate would peak a bit above 8%. Economists predict it will soon top 10%, erasing all the jobs created in the U.S. since the beginning of the decade."

Well, don't just take my word for it. Click here to read it from

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