[/caption]I am becoming a schizophrenic, reporting on the travails of our economy – one day, a given report will tell us that there are seeds of recovery. Then, the next day, some report comes out to dash cold water on those sapling seeds, preventing them from growing.
Yesterday, the stock market lost steam, because consumer confidence tanked. In addition to this, there are worries by the market players that we may be heading into a double-dip recession.
It did not help matters that China did not have the growth the market was looking for – all these variables, we are told, working in tandem caused the market to lose points.
This is why the fortunes of the economy are fickle; because there are so many variables to consider, which affect prognosticators from coming up with a definitive answer as to the economic prognosis.
I know that we are supposed to look at major indices – employment figures, consumer outlook, and our savings and spending rate - to determine our economic outlook. But they are so many more, which makes predicting fraught with danger.
To complicate matters, many of the economists are not objective, but parrot a particular political party’s line. You have heard the mantra by my Republican brothers on how President Ronald Reagan cut taxes and created some 15 million jobs, while my Democrats brother retort that President Clinton did the same… only, he created 20 million jobs.
At this juncture, I do not care; all I know is that where I live the stores are empty, half my church is out of work, even the cinema is uninhabited.
Those of us out here in the mire know the truth and no suit can tell us "in theory" what we know is taking place in reality.
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