Recession deniers

Stocks tumbled yesterday. American consumers are tightening belts. Spending is down. Mortgage defaults now outstrip home sales. The US debt is spiralling out of control. And America is up for sale to the top bidder. Recession nay sayers refuse to believe the evidence. The feckless media and the wet spaghetti spined pols are saying, everything is going well despite the proof to the contrary. They keep saying the economy will have a soft landing; the top issues in the presidential campaign will turn on the hair of a dime, but the 10 tonne gorilla which is causing all the worry is Herr Bush's phony war in Iraq. His rush to privatise everything from the attic to the basement of America's institution. It doesn't take a practised eye to spot by reading the daily press or listening to a halfway decent news programme on the radio or the television, that Herr Bush & co are taking the country to hell in a hand basket. Nero is said to fiddle whilst Rome burnt; Herr Bush goes to his ranch in Richardson, Texas, and cuts wood, like the exiled German Kaiser did in his Dutch retreat after World War One.
Americans glorify in the wonder that is capitalism. Nonetheless, Warren Buffett the prophet of Omaha who knows how to turn cotton into gold in the market, has again raised his voice in warning. Overpayed senior managers, poor corporate performance, overstated financial results...a recipe for failure...and boy is corporate America failing...the suprime scam and the war notwithstanding.
Columbia University Nobelist in economics Joseph Steiglitz has come out with a good book on what's ailing the American economy, 'the trillion dollar war'. He is not much of a radical but at least he dares to say the Emperor of the economy is naked. He belongs to the small few who say, we're in a recession and that before everyone realises it we're going to be into it up to our necks with all the hardships anyone can imagine for us the small people, but not the likes of theives like Herr Bush & his rotten barrel of fish, spongers off the dying corpse of what was mighty America. It is not ironical, the summer soldier that Herr Bush is, wearing a flag pin, and preaching like a wandering ignorant preacher, extols America's virtues whilst perverting them hardly before the words are out of his mouth. No one can say but the bloodsuckers & Bush croneys & big oil & defence industries they are far the better under this small man's watch in the Oval Office.