Why Americans think the academic elite are morons
The American economy is now strong enough to withstand Middle East turmoil and the Japanese nuclear crisis. Only a big rise in the price of oil could stop it now.
Those are the findings of an Associated Press survey of leading economists, who are increasingly confident in a recovery that is nearly two years old. They expect the economy to grow faster every quarter this year.
In part, that’s because the economists think Americans will spend more freely in the coming months. Higher stock prices have made people wealthier. And a cut in the Social Security payroll tax is giving most households an extra $1,000 to $2,000 this year……
Inflation will come in at 2.8 percent this year, higher than predicted three months ago, mainly because of costlier energy and food.
It was 6.6% THIS MONTH
These same geniuses think weather was a bigger factor than food and oil prices (I bet they all are convinced of the AL Gore theory of global warming).
Read this genius piece HERE, and make up your own mind if you think this a propaganda puff whose INEVITABLE RESULT is a public so cynical that we like another dead society come to feel ‘you will pretend to pay us and we will pretend to work’.
PS for the 8th month in a row, according to S&P housing prices have dropped, STILL the main repository of capital for most Americans WITH ANY
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