Booze, Baseball, and another "B"

Tuesday, October 11, 2005

Big bro, lending a helping hand...

Helping to push this country's debt load even further!

The Fed decided their last interest rate increase was something they needed to do to give the illusion that the US Economy was in good shape.

Nevermind the fact that the US was hit by not one, but two huge hurricanes, the first of which being "the worst natural disaster to ever hit the United States." Ok, so that sucks, but maybe they know something I don't know.

Then there's the fact that gasoline prices at the pump have skyrocketed, and THEY AREN'T GOING DOWN. Wholesale gasoline prices and oil prices have fallen, but prices haven't gone down at the pump. So consumers are dealing with a 70+% increase in the price of fuel. But of course, all these economists think that US consumers "are really resilient" (read: dumb enough to keep spending more than they are making every month, even though it now costs them twice as much to get to work and drive their kids around). Ok, I'm thinking this for increasing rates is losing its footing...

On top of these salient factors, one cannot forget the fact that the job market now is the worst it has been since The Great Depression. Out of a job? Good luck getting one. However, the administration would have you believe that there's hundreds of thousands of jobs being created each month, and Americans everywhere are happily skipping to work to make their fortunes.

So, to recap, even though the US was razed by two horrible natural disasters, consumers are paying twice what they should be for fuel, and there are no jobs, it was a good idea to increase interest rates so as to give the impression that the economy is A-OK.

Right....

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