The President has been blaming our economic woes on "a string of bad luck". Not to say that external shocks don't have an impact, but if the main factor in our economy is luck rather than policy, then it will be hard to Mr. Obama to argue that he deserves to stay in office.
And if the main effect on the economy is policy rather than luck, then it will be hard for Mr. Obama to argue that he deserves to stay in office.
Thursday, August 18, 2011
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3 comments:
Coming from the point of view of a small open economy: seeing the US, with all its market power, blame external shocks just makes me think "Aww hell! We're all going down..."
The fact that The Whine is blaming external shocks doesn't mean external shocks are actually the reason for the problem. Although it may well take until, oh, late January 2013 for our economy to start to recover.
yes, 2013 is what are macro unit is now forecasting :p
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