Thursday, April 7, 2011

Don't believe the hype - Facts point to a disappointingly slow" economic recovery....big surprise

If you listened to the Governor of Massachusetts Deval " Spend-it-all" Patrick and his buddy in the Oval Office, things are going great for Americans.....Hey, unemployment is down according to these two idjits. In REALITY, (something neither of them want to talk about), people are still hurting and the reason why unemployment is down is that people have fallen off the "official" numbers. If you aren't getting benefits, you're not counted. The Official count in Massachusetts is 8.8%.....the REAL number is closer to 15%.

Then we get to those who have a job...they are doing more as the last three years have been horrific.....Companies have eliminated raises, benefits costs are up, inflation is eating away at what income they are getting and the POLS like Obama says, "Get used to it." That was the official statement from the Administration yesterday....The President said he has little ability to control prices or help the average American family...." Get used to it"....And this feckless idiot wants another 4 years ???? If an employee at your company performed as poorly as the fool in the White House or his buddy Deval, they would have been canned long ago.

So that brings me to the point......I'll be heading overseas for work and many asked me "why?" The number one reason is that it is a good job and I'll be supporting the military. The other side is that I will be getting paid what I am worth. That is something that would likely not happen in Massachusetts as most companies don't want to pay for the experience & knowledge of a seasoned professional. They want the cheapest person they can land & work them like a dog. I'll be working long hours but I'll be making what I am worth. I know there will be people back home working the same hours but at half the pay.

That brings me back to the point....the economy is mortibund and recovering much slower than the POLS will admit....If they were honest with people, then they would have to take responsibility for the mess, something they do not want to do. I'm heading overseas to insure the economic safety that the home front cannot provide. It is a trade-off as time away from home is tough but so would slowly losing ground on all the things my wife & I have worked for over the years because others won't handle their tasks in Washington, DC or on Beacon Hill in Boston. I'll do what is needed as it is the only way forward.

I hope that people wake up and throw out the POLS who won't do their jobs or are incapable, starting with the "Empty Suit" sitting in the Oval office.

State faces 'disappointingly slow' recovery
April 7, 2011
By Megan Woolhouse, Globe Staff

Massachusetts faces a "disappointingly slow" economic recovery, a prediction that economists from several local universities and the Federal Reserve Bank of Boston called the "best-case scenario."

These economists, who constitute the editorial board of MassBenchmarks, a University of Massachusetts journal, made the bleak assessment during a recent meeting in advance of the publication of a quarterly economic snapshot off the state. The snapshot, which estimates the growth rate of the Massachusetts economy, is scheduled for release at the end of this month.

The board warned that even a slow recovery could be derailed by a variety of factors, from spreading turmoil in the Middle East, to a worsening of the European debt crisis, to sharp spending cuts and layoffs in state and local government, according to minutes of the meeting released today.

"Any of these factors, or some combination of them, could alter the course of the national and state economic recovery," the board said at its April 1 meeting. "If we are lucky and these risks remain at bay, the state is in store for a steady, but disappointingly slow recovery."

Massachusetts economy has been growing at the same pace as the nation's, which has also been disappointingly slow, the board said. The downturn in Massachusetts was softened by the state's technology industry, which did not experience the same declines as other sectors during the recession.

The board also said earlier views that Massachusetts' economy was rebounding from the recent recession faster than the nation were incorrect. The board said annually revised US Labor Department data showed that the state's economic downturn was less severe than first thought, but the state's recovery has been less vigorous than previously thought.

"The net impact of the revisions places the Commonwealth in the same place," the board said.

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