The greatest economic recovery in world history continues to fade. The much hyped Obama Economic Boom which the media, lead by Newsweek, was promoting to no end, continues to be exposed as a lie. The Progressive propaganda media wanted a narrative of Barack Hussein Obama restoring the American economy. It has not materialized that way and in fact, the 3rd World style policies are burying us in debt. Unlike the media, which calls the decline in durable goods unexpected, the recent bad economic numbers don’t shock me. Debt and government spending are not paths to prosperity.
WASHINGTON (Reuters) – New orders for long-lasting U.S. manufactured goods unexpectedly fell for a second straight month in June, posting their largest decline since August, further evidence economic growth cooled in the second quarter.
The Commerce Department said on Wednesday durable goods orders fell 1.0 percent after a revised 0.8 percent drop in May.
Analysts polled by Reuters had forecast orders increasing 1.0 percent in June from May’s previously reported 0.6 percent fall.
“The number was weaker than expected and it could add to the idea that the economy is slipping into a double dip recession,” said Bruce Bittles, chief investment strategist at Robert W. Baird & Co. in Nashville.
Read the rest: Durable goods orders fall as growth picture dims
The Obama boom was a mirage and a lie. Like all myths, it crumbles in the face of reality. The economic policies of Barack Hussein Obama and his Progressive cohorts are failing and as recent polls suggest, Americans are no longer buying it.
In another sign of economic failure, General Motors which is owned by the Obama regime has introduced the Chevy Volt. This car was hyped as the savior of the American auto industry. The problem is that the asking price is pretty steep in a depressed economy. The starting price is $41,000! That’s right despite government subsidies and control, they still made a very expensive care. Nissan which is privately owned came out with its electric car with a more reasonable at $32,000. This is another example of government inefficiency reminiscent of the Yugo and Trabant.
Will these Progressives ever learn?
Update: The SEC is now saying that it is exempt from public disclosures in the new Financial regulation bill.
So much for transparency.
Under a little-noticed provision of the recently passed financial-reform legislation, the Securities and Exchange Commission no longer has to comply with virtually all requests for information releases from the public, including those filed under the Freedom of Information Act.
The law, signed last week by President Obama, exempts the SEC from disclosing records or information derived from “surveillance, risk assessments, or other regulatory and oversight activities.” Given that the SEC is a regulatory body, the provision covers almost every action by the agency, lawyers say. Congress and federal agencies can request information, but the public cannot.
That transparent Obama regime and it’s phony economic boom!
(Update Hat Tip: Huckfunn and M)
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