How did I get in this handbasket?

Saturday, September 04, 2004

The Corner the Economy is Turning Has an Oil Slick

During my morning scan of the news, I saw this headline and article, "Blazing U.S. Profit Growth to Cool." I must confess my reaction was, 'huh?' There is "blazing growth" is this economy? From all I've seen and heard, the economy is in pretty poor shape. And acccording to the headline, it's (uh oh) gonna cool down? So, what gives?

Well, click, click, and "Ohhhhhh, I get it." Apparently, while jobs are being lost at a Hooveresque pace, and all other economic indicators seem to show folks are having a tough go at it, U.S. companies have been doing great, making money hand-over-fist and it is their profits that are growing like gangbusters.

So, this article means three things:

1) Bush's economic policies may be good for businesses, but not working people.

2) This is possibly why Bush seems to think the economy is doing so great, why folks on the ground know otherwise.

3) The blazing growth is coming to an end, and with it, ANY of the positive effects it has for the economy at large (e.g. jobs).



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