Right Thinking From The Left Coast
Chance favors the prepared mind - Louis Pasteur

Thursday, May 29, 2008

The Great Non Depression
by West Virginia Rebel

The recession seems to be on hold:

What do you call a recession where the economy keeps going up and up, even if a bit sluggishly? Well, my friends, you call that an expansion. And that is what we seem to have right now, despite all the economic doomsaying about a recession or even a Great Depression 2.0. Today, the Commerce Department revised its first-quarter estimate of gross domestic product upward to 0.9 percent from 0.6 percent. That follows 0.6 percent GDP growth in the final quarter of 2007. The revision also makes it more likely that the second quarter will be positive, maybe 1.5 percent, maybe even higher.

This will be good news for John McCain, and bad news for Democrats who think the economy needs to be “Saved” from itself.

Posted by West Virginia Rebel on 05/29/08 at 06:39 PM in Politics  • (0) Trackbacks • Permalink • Discuss this in the forums
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