Reuters: Housing sales plunge …

Just when you thought the mess from the February snowstorms was over, it has started to obscure a clear understanding of how the economy is doing.

Great… the deteriorating economy is now being blamed on
Man Made Global Warming.

We got “the buck stops at the Presidents desk” for 8 years under Bush….now it is everybody’s fault but Obama’s.

Well Obama is always talking about the “consensus of the leading economist”…here is some of that consensus and it is not good if Obama continues down the liberal,job killing,debt ridden path of “Hope and Change”:

Economists: Another Financial Crisis on the Way
Nonpartisan Group Led by Nobel Winner Calls for Stronger Financial Reforms
By MATTHEW JAFFE
March 2, 2010 —
http://abcnews.go.com/print?id=9990828

The report warns that the country is now immersed in a “doomsday cycle” wherein banks use borrowed money to take massive risks in an attempt to pay big dividends to shareholders and big bonuses to management and when the risks go wrong, the banks receive taxpayer bailouts from the government.

“Risk-taking at banks,” the report cautions, “will soon be larger than ever.”

Of course there is a big difference in setting regulations to make sure that banks/mortgage companies don’t indulge in the sub-prime like schemes that helped destroy our economy compared to the regulations that force out the private sector and allow the government to take to over control.

But Obama and his right hand man Rahm will never let a crises go to waste.

“Hope and Change baby!!!!….Hope and Change!!!!”.

How about the Chamber of Commerce:

U.S. Chamber warns of ‘double-dip’ recession because of Dem policies
By Ian Swanson – 01/12/10 09:44 AM ET
http://thehill.com/business-a-lobbying/75401-us-chamber-warns-of-double-dip-recession

U.S. Chamber of Commerce President Tom Donohue warned the U.S. faces a double-dip recession because of the taxes and regulations under consideration by the Democratic Congress and President Barack Obama.

“Congress, the administration and states must recognize that our weak economy simply could not sustain all the new taxes, regulations and mandates now under consideration. It’s a sure-fire recipe for a double-dip recession, or worse,” Donohue said in a speech providing the Chamber’s outlook for 2010.

Of course the fact that Obama’s crack financial staff has been wrong about pretty much every single forcast it has offered up makes it no surprise that Obama’s policies are making our situation worse and not better:

Mean Street: It’s Official — Obamanomics Isn’t Working
http://blogs.wsj.com/deals/2009/10/26/mean-street-its-official-obamanomics-isnt-working/tab/print/

You likely missed it. But Thursday’s Congressional testimony from Obama Council of Economic Adviser Chief, Christina Romer was the big story. She officially admitted what many of us already knew: Obamanomics isn’t working.
The $787 billion Obama stimulus package that was supposed to keep U.S. unemployment at under 8% will not only fail to keep it under 10%. But by mid-2010 “fiscal stimulus will be contributing little to further growth.”

As for President Obama’s big promise last January to create 3.5 or 4 million new American jobs. Forget it.

“Unemployment is unlikely to end 2010 much below its current levels.”

But pay no attention to rising unemployment (remember the numbers are not including the people who have dropped out of the work force,reduced to part time,reduced to working one week on/one week off, or the people who are now taking the second phase of unemployment benefits)….
..deteriorating housing market….
……credit lines still frozen……
……..rampant fraud in TARP,the Stimulus,and the Bailout money……
………debt levels like this country has never seen….
…………and taxes going up…..

Pay no attention at all to the reality and just follow the sheep who say “the stimulus is working”….”Obama saved us!!!”.

…But have faith…the “adults” are in charge….

(On failure of the Stimulus)
“The figures we worked off of in January were the consensus figures and most of the blue chip indexes out there,” Biden said. “We misread how bad the economy was,

VP Joe Biden on ABC’s This Week,
July 5,2009

“Yes We Can!!!!!”

Baxter Greene on March 4, 2010 at 1:59 PM

As Obama wanted….Government is growing….the private sector is shrinking….

Honey, They Shrunk the Private Sector

Meanwhile, the federal government keeps growing and growing.
http://pajamasmedia.com/blog/honey-they-shrunk-the-private-sector/

A look at what has happened to the nation’s inflation-adjusted gross domestic product (GDP), the value of all goods and services produced in the economy, during the last six quarters is sadly instructive. Comparing the fourth quarter of 2009 with the second quarter of 2008, we see that:

* Even after six months of “recovery,” the economy as a whole has shrunk by almost 2%.

* Uncle Sam’s level of annualized consumption and “investment” has grown by 8.5%.

* Despite the incessant pleadings of poverty by most state and local governments, their consumption and “investment” have hardly changed.

* What remains, i.e., the private sector, is 3% smaller.

Meanwhile, the past year and a half has been a great period to be a federal government employee. While the private sector has shed almost 6.4 million jobs on a seasonally adjusted basis during that time, federal non-postal employment has leaped by over 150,000, a stunning increase of over 7.5%. Two-thirds of the increase occurred during the first eleven full months of the Obama administration, even though the severity of the recession was drop-dead obvious well before he took office. Even higher federal employment is on the horizon.

….But….But ….But Obama said he was all about jump starting businesses, creating jobs,and helping out the backbone of this country which is the individual business owner.

….must have been an expiration date on that also.

…There are smart people out there that know what made this country strong and what it will take to return us to prosperity…unfortunately they have totally different ideas than the Obama administration:

Chamber of Commerce Says Private Sector, Not Government, Will Create Jobs
Thursday, October 15, 2009
By Penny Starr, Senior Staff Writer

(CNSNews.com/Penny Starr)

(CNSNews.com) – At an event Wednesday to launch its ‘Dream Big’ campaign to promote the American free enterprise system, U.S. Chamber of Commerce President Tom Donohue said that people, not government, will create the jobs needed for economic recovery.

“The government can support a few jobs in the short-run, but over the long-run only the private sector, powered by free enterprise, can keep America working,” Donohue said in his prepared remarks.

“We believe it is imperative to remind, educate, and persuade our fellow citizens and leaders that it was a free enterprise system based on individual initiative, hard work, and personal responsibility – operating with free trade, free capital markets, and reasonable taxes and regulations – that created the greatest economy the world has ever known,” he said.

“It’s free enterprise that will put America back to work,” Donohue said.

Hopefully we can head back in this direction with a resounding message of “No” to the Socialist policies of Obama and his liberal entourage come Nov. 2010.

Baxter Greene on March 4, 2010 at 2:36 PM