Saturday, May 31, 2014

Here is what we need, more cold weather

George W. Bush has to be scratching his head. The initial estimate of first quarter GDP growth in the Obama economy a few weeks ago was a paltry .1%. The news media (minus Fox News) made little or no mention of the terrible results. Those news outlets that did mention the kind of number that would have gotten “W” crucified, simply bought the White House line and blamed the awful performance of the economy on bitter freezing cold temperatures.

Fair enough. It is just too cold. I got it.
First quarter GDP results have now been revised. It seems the economy did not grow by a minuscule .1%, it shrunk by a full percent. One more 90 day stretch like what we had in Q1 of 2014 and we will have an official recession on our hands.
Again, after the revision downward the news media made no mention of the mind numbingly bad numbers. ABC and CBS found what would have prompted one hour news specials to highlight the floundering economy under “W,” to be not even worth a passing mention under Obama. Other news outlets mentioned the terrible numbers and immediately wrote it off, once again, to brutally cold temperatures. OK. I got it. It was really, really, cold.
Here comes the president just yesterday. What was he doing? He was actually arguing for policies that will create even colder temperatures. It seems that even in the face of era where we had one of the coldest first quarters on record, super low tornado activity, and no major hurricanes making landfall in more than 3100 days, this president can still look the cameras in the eye and suggest fossil fuel use is causing too many “devastating storms” and too many hot temperatures.
To summarize, GDP growth shrunk badly due to the incredible cold. So what we need according to our "leader" is to make things colder because even though the temperatures are freezing the economy, they are not cold enough yet. Yes, I think I got it. This man is a real genius and "W" was stupid.

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