Posted by MataHarley on 23 February, 2009 at 5:54 pm. 10 comments already!


“We tend to talk about the negative. … Things are beginning to turn and I think the American people are going to feel that very soon,” Reid said during an appearance on MSNBC’s “Morning Joe” show.

Reid’s comments contrast with recent remarks of President Obama, who has repeatedly said the economy will get worse before it gets better.

Reid said, “We’re getting very close to stabilizing the banking industry.” He added that he traveled around the country last week and was impressed with what he saw, noting he was in Dallas to see firsthand what AT&T has invested in broadband technology.

Well now, how can that be, Harry??? The “stimulus” hasn’t even hit. Stock markets are still nose diving. But the banking industry is getting “very close to stabilizing”????

But here it is… ol’ Harry contradicting the doom in gloom of the Delegator-in-Chief.. in today’s The Hill.

Responding to criticism of the stimulus from a few GOP governors, Reid pointed out that many Republican governors from Florida to California backed the stimulus legislation.

Reid added, “We understand the Republicans are betting on failure. We’re betting on success. The stimulus package will help.”

You’ve got to be brain dead to buy his BS… Not a dime of the stimulus has been spent. And none of the promised money has any effect on what was taking place under their noses as they put the fear of God into the nation to pass their $800+ spending bill… sans reading the devil in the details… or “catastrophe” would strike.

Frankly, I’m stunned. I figured they’d give it a bit of time, *then* try to credit their spoiled children spending spree for the turn of events. But nooo… this bozo thinks that, within days of the stimulus being passed… we’re going to believe that stroke of a Presidential pen, indebting generations, has magically reversed the spiral.

Fact is, the real estate world has been yawning and stretching back to life with sales up over the past couple of months, potential home owners pecking around looking for the bargains, and solvent buyers still able to get loans.

In fact, the LEI (leading economic indicators) increased in Jan.

LEADING INDICATORS. Five of the ten indicators that make up the leading economic index increased in January. The positive contributors — beginning with the largest positive contributor — were real money supply*, the interest rate spread, index of consumer expectations, manufacturers’ new orders for nondefense capital goods*, and manufacturers’ new orders for consumer goods and materials*. The negative contributors — beginning with the largest negative contributor — were average weekly initial claims for unemployment insurance (inverted), building permits, average weekly manufacturing hours, stock prices, and the index of supplier deliveries (vendor performance).

The leading economic index now stands at 99.5 (2004=100). Based on revised data, this index increased 0.2 percent in December and decreased 0.7 percent in November. During the six-month span through January, the leading economic index decreased 1.9 percent, with three out of ten components advancing (diffusion index, six-month span equals 30 percent).

COINCIDENT INDICATORS. Two of the four indicators that make up the coincident economic index increased in January. The positive contributors to the index — beginning with the larger positive contributor — were personal income less transfer payments* and manufacturing and trade sales*. The negative contributors — beginning with the larger negative contributor — were industrial production and employees on nonagricultural payrolls.

The coincident economic index now stands at 103.3 (2004=100). This index decreased 0.5 percent in December and decreased 0.5 percent in November. During the six-month period through January, the coincident economic index decreased 2.7 percent, with one out of four components advancing (diffusion index, six-month span equals 25 percent).

Tain’t all rosy. No instant cure. But the first positive movements that… if not tamped down by other economic factors, give some good news. 2009 will still be a rough year, but not necessarily a spiral… providing the government stops “helping” in the willy nilly fashion they have chosen.

But ol’ Harry’s not done yet. Just like the “war on terror” phrase had to be banned to protect the hypersensitive, Harry’s got a beef with another word… “nationalization”. From Politico today:

Senate Majority Leader Harry Reid said he supports efforts of the federal government to dramatically expand its stake in Citigroup, but wants people to back off from the dramatic rhetoric.

“It’s not nationalization, it’s protecting the taxpayers’ interests,” Reid (D-Nev.) told MSNBC’s Morning Joe program on Monday.

“In the bailout, the TARP, that we made sure the American taxpayer had a way of getting paid back for their investments,” Reid said. “That’s what this is all about and it’s the right way to go.”

The federal government is in talks to take as much as a 40 percent stake in the struggling bank’s common stock, the Wall Street Journal reported on Sunday.

A rose by any other name….

The opinion these elected elitists have of the nation’s brain power is nothing short of insulting.

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