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Are we there yet?

Not really, kids. We still have a long way to go and until the people that really need to get back to work start to see "jobs! jobs! jobs!!!" flooding into their lives most won't care too much about this kind of half decent news on the economic situtation, as good an indicator as the news may be:

US economy in fastest growth rate for six years

The US economy grew by an annualised rate of 5.7% between October and December, official figures have shown.

The number, which is a first estimate, is a big rise from the previous quarter's growth rate of 2.2%.

It
suggests the country's economy is growing at its fastest pace for six
years and confirms the US economy has left its year-long recession
behind.

But even with the rebound, gross domestic product (GDP) shrank by 2.4% across 2009 as a whole.

Hopefully the fact that meager stimulus package allowed by "deficit peacocks" was mostly backended, meaning that we will see more jobs coming from that effort now than we did at the begining with those shovel ready projects will start to be seen in the real people's economy. Announced efforts to begin revamping our earthly and spacial travel systems will hoepfully combine to maximum effect for everyone searching for that elusive help wanted sign.

 

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Connecticut Man1 on January 29, 2010 - 11:11

Taxpayer owned and bailed out industries a little more closely:

On the first day of the auto show in Detroit, the cars - and the
companies that make them - were in danger of being overshadowed.

A visit by a big investor in the US automotive industry drew more looks then some of the shiny new models on display.

On
the floor of the Cobo Center, where the show is held, crowds surrounded
a large Congressional delegation led by House speaker Nancy Pelosi.

Ms
Pelosi and the other politicians were here to inspect the way in which
taxpayers' funds are being used last year's bail-out when the US
government injected billions of dollars into the crisis-hit industry.

 

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susie dow on January 29, 2010 - 11:43

...and ignore the lip service.

Loved the Deficit Peacocks editorial by Krugman.

March of the Peacocks by Paul Krugman, New York Times, January 28, 2010.

Last week, the Center for American Progress, a think tank with close ties to the Obama administration, published an acerbic essay about the difference between true deficit hawks and showy “deficit peacocks.”

You can identify deficit peacocks, readers were told, by the way they pretend that our budget problems can be solved with gimmicks like a temporary freeze in nondefense discretionary spending.

One week later, in the State of the Union address, President Obama proposed a temporary freeze in nondefense discretionary spending.

Tony Blair is pontificating about the Iraq war today. Glenn Greenwald is apoplectic as a result. If you get a chance, check out his most recent editorial.

Remember the illegal destruction of Iraq?
By Glenn Greenwald, Salon, January 29, 2010

The invasion of Iraq was unquestionably one of the greatest crimes of the last several decades. Imagine what future historians will say about it -- a nakedly aggressive war launched under the falsest of pretenses, in brazen violation of every relevant precept of law, which destroyed an entire country, killed huge numbers of innocent people, and devastated the entire population. Have we even remotely treated it as what it is? We're willing to concede it was a "mistake" -- a good-natured and completely understandable lapse of judgment -- but only the shrill and unhinged among us call it a crime.

Much more...check it out.