Wednesday, January 27, 2010

Recession? What Recession?

This has been puzzling me for awhile. Did you know that Bloomberg's Business Week had a recession blog? Did you know it ended back in September of 2009?

I was shocked when I read the headline: Thanks For Your Readership. What - you're done? The copy goes on to say that the effects of the recession are still reverberating through the country, but the economy is "on the upswing" and other blogs would pick up the recession stories.

The recession in America, according to Bloomberg, was over.

Recession in America by Business Week

What America are they in?

It's almost February 2010 and there are certainly signs that the economy is trying to breathe without life support. But it's gravely ill and I don't think it's getting out of the hospital anytime soon. Particularly when we haven't yet addressed many of the issues that got us here in the first place.

Wall Street's feeling much better, thank you. They're celebrating with big bonuses.
That cracking sound you hear? The spines of the rest of us, upon whom they're reclining as they feast. The collapse hasn't slowed for us nor has any of the weight been removed. Hell, we can't even get a break on health care costs.

The state of the union should be interesting. It seems our new president is realizing that his centrist, keep the peace approach isn't going to fly. He can't make friends with the GOP, the legislature is in partisan lockdown, and he's not going to get any meaningful reform passed by trying to play nice.

I sympathize. I want everyone to like me, too. But they won't. And at some point you have to grow up, admit to yourself that you can't win everyone over and sometimes you just have to take a stand you believe in, even if it's unpopular.

So I'm not joining the ranks of the people who are throwing in the towel on this administration. I'm ready to get behind him if he's traveling in a direction I think turns us toward not only recovery but sustainability.

But it's comforting to know the recession's over. Bloomberg would know, wouldn't they?

No comments: