Prepare for collapse.
- Obama’s Growth Forecast Bullish, Wall Street Exuberant, Corporate Insiders Freak-Out Bearish (Testosterone Pit, March 4, 2014):
In his budget for fiscal 2015, President Obama assumed courageously or just conveniently that the US economy would grow 3.1% in 2014, quite a jump after having lumbered along at 1.9% in 2013, and given what looks to be a soft start for the year. But according to the budget proposal, the economy would boom. It would be the fastest growth rate since 2005. It would be the most exciting economy in nine years.
That level of growth would solve a lot of problems. Citing the rebound in housing – the price bubble, apparently, though sales are plunging – along with strength in manufacturing and oil production, the budget statement claimed that there were “encouraging signs emerging across industries.” And so the economy “is moving forward and businesses are creating jobs, but our top priority must be accelerating that growth….”