Just track all of the "analysis" and "predictions" and "proclamations" that the govt/Fed/Financial Entertainment Media have been IV Drip Feeding us since the crisis began so many years ago.
It started with:
--"There is no rescission, GDP last quarter was 4.8%, the recession talk is dead. The economy is strong! Long live Goldilocks and the greatest story never told!"
Moved to:
--"Okay, the U.S. may hit a slow patch, the economy will probably stall for a bit but I don't forsee the U.S. entering into a recession at all. Just a smaller GDP growth for a quarter or two and than back to strong growth. Not many lay-offs either."
--"There is no mortgage crisis. The defaults will be contained to the sub-prime sector and not reach the greater A-AAA mortgages. There is no crisis"
On to:
--"The defaults will be contained to Sub Prime and Single A mortgages, nothing more will leak out. The economy is strong and resilient. No recession"
--"The recession will be quick and relatively painless. Short and Shallow! Possibly a quarters or 2 with little GDP contraction. We predict that it will be back to business and usual in a short while.
--Okay, to get the economy back on track we will provide a "Targeted, Timely and Temporary Stimulus" of 150 billion dollars. (Remember that? Temporary? and when 150 billion meant something?)
And Finally:
--We are doing everything we can, using a bazooka to head of this crisis. TARP MUST BE ENACTED. DO IT!!!!! QUICK!!!!
--The economy will be better in 1 year.
--The economy will be poor for 5-6 years
--Expect 8% or above U.E. for some time
--The recovery is sluggish.
And on, And on. Believe me, the corporations/banks are holding cash because they are honest with themselves (in this respect at least) about just how bad things are, have been and will be. Mix that in with some serious "unknowns" that are coming from this idiot filled Admin. and you have Zero Growth.
The Fed, the Govt and the Financial Media etc have ALL BEEN DEAD WRONG. On every call, on every prediction and on EVERY SINGLE PIECE OF ANALYSIS. All wrong. Yet Dumbass Ben is still in power and the Congress still pretend like they really didn't see any of this coming. Every made for TV "Hearing" is full of lies and incompetent people.
Take everything anyone connected to this says and add 50% more awfulness to it and you may be getting close to the truth.
