by Bill Seebeck
The BBC just flashed a story that the US economy has come out of recession but warns that recovery will be slow.
I have written about this subject more than a few times over the last two years and very little has changed. People are out of work and are still out of work.
Do you think that because you want it to be over that it is over? Well, guess what? Think again. Look around you and just this morning there was another story of mounting new layoffs in the publishing industry.
I was in Walmart and Costco yesterday and what was clear to me was how many more people are buying their clothes there. Fashion for the general public is becoming more "dressed down" because it is cheaper. We can't afford to be "dressed up" anymore. Food prices are still high even though we have less money. Gas prices are near $3.00 per gallon on the east coast and we can't afford that either.
Is the general news media that stupid that they don't get it? We are in big trouble and it is NOT getting better. I hate to tell the TV & Cable NETWORKS, but there is NOTHING ENTERTAINING about how poor the American people are fast becoming. Wake Up!
The BBC story quotes Wells Fargo's chief economist John Silvia as saying that, "He sees disappointment ahead for US workers and consumers, with a long-term decline in living standards." He is right. It is so clear that living standards are already rapidly declining because they must. We don't have work and we don't have disposable income!
So then how do you build a new robust recovering economy on the backs of a general public who are on their knees?
Answer that question someone!
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