PushBack Politics
The Last Word – John F. Kennedy’s ‘finest moment’
Americans—except Republicans of course– would really like to believe that the recovery is finally here. I mean, after five years of high unemployment, the GOP obsession with government deficits and a disappearing middle class, a bona fide recovery would make millions of Americans, as well as a faltering global economy, feel more at ease. That’s why some cautiously optimistic economic data this week give the impression to some as having messianic importance, in the ever-optimistic belief that higher consumer confidence and rising home prices will deliver us from economic evil. But evil’s power is the power of illusion. That’s why the GOP is so good at it. That’s why FOX News is the embodiment of innuendo and scare tactics. And, in this case, that is also the power of the positive economic data. Consumer Confidence is Not Always Realistic Take the consumer confidence numbers, which are measured every month by the Conference Board and act as one of the more foolish hinges on which to hang our hopes. Consumer confidence in May jumped to 76.2, on a scale of 100. In the accepted analysis, that indicates that consumers believe the economy is improving. It’s also a grand lesson in the [...]
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