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Edited on Wed Feb-03-10 01:00 PM by Kurt_and_Hunter
"Recovery" should be spoken in the same tone Jim Mora famously used for the word "play-offs."
Recovery... you're talking about "recovery"?!
Sixteen months ago some folks were saying certain gloomy things about the economy.
Like those who opposed the Iraq War what they had to say was so inconvenient that even though they have been proven absolutely right they are still not listened to because they are obviously cranks because only a crank would have opposed the Iraq War said such terrible things about the economy.
Iraq has no WMD? Preposterous. Housing will not bottom in 2009? Insane. Unemployment will hit 10% and stay there... and will still be 8% years and years from now? Why do you hate America?
Perhaps it is time for everyone who was flat fucking WRONG (in the real world, not on DU) to reconsider their assumptions, rather than pulling a Condi: "Nobody was predicting that..."
People WERE predicting this stuff, and not just some perma-bear gold-bugs.
And there is not going to be a recovery except in the technical sense of absence-of-recession because unemployment is high and housing continue to decline.
Recovery? 2-3% growth, tragedy-level unemployment and real estate continuing to decline is a recovery?
That's not a recovery. It's a fucking crisis.
16 months ago some very smart people were saying that we would be where we are today and it was considered irrational pessimism.
The irrational pessimist scenario came true, and is now called a recovery.
The only explanation is that the word recovery has changed it's meaning.
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