I enjoyed Jennifer Rubin's thoughts about Two Americas:
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John Edwards was right: there are two Americas. No, I am not talking about the one with the hedge funds and the one with the girl with no coat. The real divide is between the political and economic, between those obsessed with politics and those determining our economic future.
In the former realm reside the politicians, political pundits, and the MSM reporters. In their world, Barack Obama is unblemished and riding “sky-high,” the stimulus was a political triumph, and the front page stories are the signing ceremony for the stimulus bill, Roland Burris’ potential perjury problems, and the prospects for new commerce and health and human services secretaries.
In the economic realm all of this is piffle. To recap: the ABC Consumer Comfort Index hit its lowest level in over 20 years this month and the Rasmussen Consumer Index also hit rock bottom (the day after the stimulus bill passed). Unemployment is at 7.6% and may well climb for at least another year. Even before yeaterday’s 300 point drop in the Dow, the markets had been diving. Since Election Day the Dow has plunged from 9600 to below 7600 (more than a 20% drop). And gold prices are soaring, a continued signal that confidence in the dollar and U.S. economy is waning.
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(Hat tip: Instapundit)
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Technorati tags: economics, politics
2 comments:
To me, the two Americas are split down those who are living just enough for the city/town and those with time on their hands to think about... anything. XD
To the millions of poor Blacks and others who have been out of a job for years, the recession only means "competition for services". lol
That is an interesting way to split people, into those with free time, and those who have little free time.
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