There’s snow in the economic forecast.
A long evening driving up to Hill’s Resort at Priest Lake. It was startlingly deserted. The food was superb, but the room was eerily empty. maybe it’s too early in the season and maybe it’s because bitter weather is forecast for tomorrow…Snow on June 26!
When my wife and I arrived home, we watched a stunningly upsetting documentary about Poland under the Nazis. Just incredibly horrible.
I opened my e-mails to receive a letter from a dear friend and brother expressing his fears about the economy and political leadership. He is a genuinely brilliant man and his concerns echoed my own. This is what I wrote back to him:
I agree with every word you are saying. A major blow up in Europe seems inevitable.
And a default far in the future for the USA also seems inevitable.
And I wish I had more cash and in the morning perhaps I will sell some stock and raise more cash.
Every point you make is powerful and valid.
As to President Obama, he is (as you say) clueless, just hopelessly out of his depth.
On the other hand (and I may be whistling past the graveyard here):
92 % of the labor force is employed, far, far above depression levels.
U.S. major banks are far stronger than they were four years ago and none of them will ever be allowed to fail unless true madmen are in charge (not impossible).
The housing sector is showing signs of life, albeit faint.
The ag sector is strong.
The minerals sector, while weaker than it was six months ago or even two months ago, is still strong.
There is still sufficient buoyancy in the economy to allow major bubbles in social media, which is not typical of a truly depressed market.
A man of faith in a godless age is hitting Americans where it hurts.
Mr. and Mrs. American Spectator Reader, let P.J. O’Rourke talk sense to your kids.
In Britain, defending your property can get you life.
The debacle of this president’s administration is both a cause and a symptom of the decline of American values. Unless Congress impeaches him, that decline will go on unchecked. An eminent jurist surveys the damage and assesses the chances for the recovery of our culture.
It won’t take long for conservatives to scratch this presidential wannabe off their 2008 scorecard.
The American Christmas, like the songs that celebrate it, makes room for everybody under the rainbow. Is that why so many people seem to be hostile to it?
Was the President done in by the economy, or by the politics of the economy?
H/T to National Review Online