August 11, 2010
The New Normal
Watching friends, loved-ones and colleagues fight the day-to-day ravages of joblessness has become overwhelmingly disturbing and upsetting. At the beginning of what is now being referred to as the Great Recession in 2007, there was hope that it was just an adjustment in the nation’s economy and that it would come and go as it has in the past.
It has not. It lingers.
The current background at this point in time in the Great Recession is the hopelessness that accompanied a headline in The New York Times last Friday that read, “U.S. Lost 131,000 Jobs as Governments Cut Back.” “Over all, the nation lost 131,000 jobs last month, according to the Department of Labor, which also said that June was far weaker than previously indicated.”
In an August 7, 2010, article in The New York Times, “Jobless and Staying That Way,” Nelson D. Schwartz observes: “The ‘new normal,’ as it has come to be called … envisions an economy in which growth is too slow to bring down the unemployment rate, while the government is forced to intervene ever more forcefully in a struggling private sector.”
In reality the new normal is still being defined and many feel that a profoundly different approach needs to take place before the final definition is defined by history.
There remains a hope that the current failed approach to the economy – Obamanomics – will not be the final word on the new normal, much as the New Deal has come to be understood, by too many armchair political-economists, to have saved our nation from the Great Depression, when nothing could be farther from the truth.
Unfortunately there is little hope in sight for a fundamental change in the disastrous economic agenda of President Barack Obama and the Democrat regime in power in Congress until after the November elections... http://www.thetentacle.com/ShowArticle.cfm?mydocid=3907
LABELS: BUSINESS ECONOMICS, DAYHOFF MEDIA THE TENTACLE, PRES 2009 44 OBAMA-BARACK
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