Roundup: You know, “sometimes I forget” just how terrible my terrible economy actually is

  • by:
  • 09/21/2022

*Obama: "Sometimes I forget" the extent of the recession.

*Bernanke: Hey Dems, do something already!

*The national average price for a gallon of unleaded has dropped slowly - around 20 cents off a gallon of unleaded in the last month. More declines are expected.

On Twitter David Axelrod asks: “Gas prices have been going down for the past six weeks. You think the GOP will blame the President?”

Good question. Or, someone might wonder: will the President blame, er, credit those reprehensible oil speculators

*Bad news for Republicans: Former Bill Clinton advisor Dick Morris, whose projection average hovers around the Mendoza Line, foresees presidential hopeful Mitt Romney winning in a landslide.

*JPMorgan Chase lost $2 billion due to some reckless trading of synthetic credit securities. Chief executive Jamie Dimon blamed “errors, sloppiness and bad judgment.” JPMorgan Chase earned $19 billion last year so this won't sink them. And, as one might expect, many folks immediately blamed the lack of regulation for the loss – because, apparently, some people believe the market should be risk free. And actual, isn’t this a great argument not to layer the industry with more regulatory burden? (Unless, of course, there was something illegal going on.) Sloppiness and bad judgment should cost you money.

Rhetorical question: Wouldn’t it be nice if everyone got similarly worked up when government wastes billions on sloppiness and bad judgment?

*Mark Zandi, the Democrats favorite economic soothsayer, sees better job performance than the 115,000 initially estimated by the Labor Department for April. Though he says,“The unemployment rate is likely to remain at 8.1 percent.”

Image:
ADVERTISEMENT

Opinion

View All

JACK POSOBIEC: The government goes after MAGA and Trump while pedophilia in Hollywood is 'perfectly fine'

"Why would Nickelodeon employ people who had been already convicted of child sex abuse?"...

UK medical body claims preventing teachers from 'affirming' child sex change will 'cause distress' to students

The medical body told the UK Department of Education it does not think parents should always know if ...

Evan Gershkovich's detention in Russia extended over espionage allegations

The US ambassador to Russia, Lynne Tracy, maintained that "the accusations against Evan are categoric...

Women workers at greater risk of being replaced by AI: study

7.9 million jobs would be lost in the "worst-case scenario."...