Back when Bush was president he used to always put lipstick on whatever pig the economy served up. No matter how bad the data, no matter the evidence in front of him Larry would just exist in his own little bubble and interpret the economy as he wanted to.
Today it’s a little different. Now under Obama, no matter how good the data, old Larry is going to put the negative spin on it. Look, I am negative on the economy too from a big picture perspective because of its origins and its mechanics. But I was very negative on it during Bush as well in the long run up to 2008′s liquidation for a different flavor of the same reason (Greenspan’s commercial credit bubble vs. today’s official credit bubble).
“The paradox is, while companies seem more willing to hire, they are not willing to make long-term investments in the economy. It’s not hard to guess that this corporate caution stems in large part from tax and regulatory uncertainties, and frankly, a White House that is anti-business.”
Still the same old Larry, painting reality to whatever political backdrop happens to be in place.
Hey, happy 4th of July.
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