More on the "recovery," Floyd "Ostrich" Norris, "Smilin' Ben" Bernanke and Donald "Movin' in the Right Direction" Kohn

following up on the previous post, mr. norris also chooses to ignore this, no small blip on the world economic data radar...

The debt crisis that has taken root in Greece, sparking an investor panic and talk of a national default in the heart of Europe, is at the leading edge of a problem expected to roll through the economically developed world as government borrowing rises into uncharted territory.

This mounting government debt poses a painful choice for developed countries such as Britain, Japan and the United States: either a deep reordering of public expectations about everything from the retirement age to tax rates, or slower growth as record levels of borrowing crimp economic activity.

Economists at the International Monetary Fund project that the amount of government debt held in the world's advanced economies will soon be so great that it surpasses the value of what they produce in a year.

recovery...? RECOVERY...?? sorry... i just don't see it...

maybe i ought to find out what bernanke and kohn are smokin' and get some for me...

Bernanke says policymakers prevented 'cataclysm' worse than Great Depression

The world's economic policymakers successfully learned the lessons of the Great Depression, helping to avert a horrendous economic outcome from the 2008 financial crisis, Federal Reserve Chairman Ben S. Bernanke said Thursday.

[...]

Separately, Fed Vice Chairman Donald L. Kohn said Thursday that a "moderate" economic recovery is underway and that the uncertainty around the economy has dissipated in recent months.

"The economy appears to be moving in the right direction, though not as quickly as we all would like," Kohn said in a speech in San Francisco. The fact that conditions have evolved as he and other forecasters had expected last fall "suggests that the future may, just may, be a bit less uncertain than before," he said.

sayin' it doesn't make it so but these guys seem to think it does... i ain't buyin' it...

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