RECESSION, HERE WE COME!
|| By FITSNEWS || In what could be another mile marker on the road to the next American recession, the Atlanta Federal Reserve has just lowered its second quarter growth estimate to 0.7 percent.
That’s down from 0.9 percent when we first checked in on this measure two weeks ago.
In other words the U.S. economy – which “grew” at an anemic 0.2 percent during the first quarter of 2015 – is continuing to move in the wrong direction.
The latest blow? Ongoing retail sluggishness, further evidence that the middle class – which is being squeezed by the welfare statists on one side and the crony capitalists on the other – is simply tapped out.
How to fix?
Jeez … we’ve said this till we’re blue in the face, but it bears repeating …
Until America’s leaders embrace the free market and put a stop to entitlement perpetuation, wealth redistribution, crony capitalism, welfare statism, socialized medicine and global interventionism – things aren’t going to get better.
In fact we should expect to see more of the same steady decline …
It’s time to face facts, people: The era of obscenely big government has been a categorical failure.
Fact: The U.S. economy hasn’t grown at an annual rate of three percent or higher in ten years. It hasn’t grown at a rate of four percent or higher in fifteen years. And it hasn’t grown at a rate of five percent or higher in thirty years.
By contrast, growth exceeded five percent in twelve out of thirty years from 1950-1980. And it exceeded four percent in seventeen out of those thirty years.
“Stimulate” that, fiscal liberals …