More Debt-As-Good-News Propaganda

Bloomberg reports: Consumer borrowing rose in October by the most in five months as credit-card use picked up and Americans took out more loans for car purchases and education. The $18.2 billion increase in credit followed a revised $16.3 billion gain in September that was more than initially reported, the Federal Reserve said today in Washington. The median forecast in a Bloomberg survey of economists called for a $14.5 billion advance. Credit-card borrowing rose by the most since May as job Read more […]

Our Economy Has Gone Supermodel

America has an obesity problem. Blame processed foods or a sedentary lifestyle. But, thankfully, our civil government is doing what it can to make sure we’re slimming down in at least one area: our economy. Democrats are latching on to a recent declaration from Paul Ashworth of Capital Economics that our recent shrinkage in GDP is “the best-looking contraction you’ll ever see.” The best-looking contraction I ever saw was “don’t.” As in, “Don’t vote for idiots.” Too late. Anyway,  Read more […]

Media Turns Good News Into Bad, And Blames Republicans

The good news is simple enough: consumers are cutting back in their spending. This may not be pleasant for some people because they want to sell more stuff. But their welfare is not the general welfare. The general welfare is obvious: people need to spend less and save more. The Guardian reports: “Retailers pulled stocks lower Wednesday as US markets reopened following the Christmas holiday. The Dow Jones industrial average fell 49 points to 13,090 as of noon. The Standard & Poor’s 500 index Read more […]

Consumer Confidence Falls Amidst Christmas Cheer

As we entered into the Christmas season, President Barack Obama and the White House press corps was trying to convince the nation that we were well on our way to recover and that everything was looking rosy.  That is except for the fiscal cliff that we are all about to plummet off of. Yet amidst all of the holiday cheer, American consumers are not nearly as optimistic as our beloved leader.  Consumer confidence took a holiday nose dive causing it to dip to the lowest it’s been in six months.  Read more […]