http://www.washingtontimes.com/news/2010/aug/27/summer-sizzles-economy-fizzles/
Excellent article from the Washington Times. Especially telling are the two paragraphs that respond to VP Biden's declaration that the country is going in the right direction:
"But what direction is that? Indicators that should be down are up, and those that should be up are down. The administration claims to have "saved" 3 million jobs, but this argument is losing traction as new claims for unemployment benefits continue to rise. Almost one in five American adults is either unemployed, underemployed or has lost hope. Gross domestic product (GDP) growth has declined since the end of 2009, and Friday's downward revision of second-quarter growth shows an economy on life support. New-home sales have fallen to the lowest pace on record, and despite historically low mortgage rates, prospective homebuyers lack enough confidence in the future to make long-term commitments. Meanwhile, more people are losing their home,s and Mr. Obama's plan to mitigate foreclosure has bogged down in red tape and administrative waste.
Since the "recovery summer" campaign kickoff, the stock market has declined, Treasury bond yields have tanked, the trade deficit has increased, manufacturing is down, non-farm productivity is down, durable goods orders are performing below expectations, the dollar is weaker, and retail sales have flatlined. "
Buy gold, bullets and move to a farm.
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