Tuesday, November 20, 2012

U.S. is Still World's Strongest Economy

And by a pretty big margin. I know I mentioned this the other day, but it bears repeating since Robin Yess brought it up on her blog. Europe and the other economic regions affected by the crash are doing very poorly compared with us. We had a stimulus. They didn't. They imposed austerity. We decided to do deficit spending. The numbers speak for themselves.

Now it's entirely possible that the double-dip recession in Europe will spread. Stupidly, Europe, Britain, and Japan have decided not to invest, thus their economies remain in the crapper. But the powers-that-be have done just enough to prevent the European economy from bleeding-out, so we can probably expect them to continue to do so. We can say with near-certainty, however, that if the US slides back into recession, it won't be because of policy out of Washington, D.C. If anything, the administration is likely to seek other ways to goose the economy without congress (the nihilists are still in control of the House, unfortunately).

The right-wingers who believe, despite all facts pointing otherwise, that this president is bankrupting the country, have zero evidence that this is the case. None. Maybe they use tarot or Ouija boards for their forecasts. That would explain a lot, actually.

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