LITTLE ROCK Now that the recovery seems to be perking along (that’s according to the socalled experts) we should all be able to relax and get back into the swing of “everything’s rosy; there’s a chicken in every pot.” Duh!
The recovery may have started but there are two things (maybe three) that seem to add a little doubt to the equation:
No. 1 is the housing market. I know, I know, house sales are increasing but until that backlog of homes is assimilated I daresay builders will be hesitant to jump in and head toward another bubble.
No. 2 is the unemployment stats. Even the experts predict unemployment will remain high for quite a spell. See No. 1 above.
No. 3. This is possibly the most pervasive toward the average American’s idea that improvement is occurring. It’s the gas price, stupid. Or rather, is it that stupid gas price?What has made the recession/depression for many at least somewhat bearable has been the low cost of gasoline, one of America’s greatest necessities. (Get to work; go to school; just get around, it takes petrol). Now the speculators, aided and abetted, no doubt, by OPEC, are at their work creating a gas bubble. Just watch it rise.
No doubt there are Nos. 4, 5, 6, 7, 8, etc., things that could topple or halt any real recovery effort. You probably have your own ideas what they are. Just don’t forget our impossible inflationary debt.
Opinion, Pages 4 on 10/28/2009
Print Headline: Off The Cuff