The business sector let its feelings be known this morning about the current state of the economy.
In response to Fed Chairman Ben Bernanke's ideas for the foreseeable future, called "the Twist," which supports longer-range financing, and the president's push for increasing taxes on the "rich" the Dow stock average opened almost three hundred points down, after losing 250 yesterday.
Weekly numbers were released at 8:30AM this morning too, and showed unemployment still considerably above 9% with no sign of reduction soon. And with Greece on the verge of default on its bonds, there's a very good chance for turmoil in the European common market which would certainly have negative ripple effects here. In fact, a growing number of economists expect a double-dip recession in the U.S., while some say we really never recovered from the first one.
But, for the president, even though our huge economic woes are largely his fault, I still think the best indicators of problems lie in the little things that happen. So, just as I mentioned a couple of days ago I thought the two recent Congressional election losses by Democrats were direct repudiations of him, and not necessarily based on local issues. And then this morning I saw this quick item regarding Bill Clinton, who said that even Democrats know that the "rich" business men who spend money and hire employees should be looked at as friends and are good for the nation. So, he doesn't agree that they should be targets of special taxes.
Now, whether Slick Willie's comments are simply his beliefs, or indications of something else...like maybe a run at the oval office by his wife, I don't know or even really care. But, as far as the current president's concerned, he sure doesn't have a friend in Willy and I suggest he watch his back. Because the last thing anyone wants is having the Clinton's displeased with them. For proof, just ask Vince Foster. You can find him rolled up in a rug in Fort Marcy park in D.C.
That's it for today folks.
Adios
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