Obama is hyping this as “recovery summer”. Right.
If this is “recovery”, people are going to be jumping from buildings when the “recession” hits:
Not one to sugar-coat things, High Frequency Economics chief U.S. economist Ian Shepherdson calls the sharp widening of the trade deficit–to $49.9 billion from $42 billion in May and far above the consensus call for a $42.1 billion gap in the latest month–”spectacularly terrible.”
Just watch: the MSM will be spinning this–again–as “unexpected”. Just like all the previous months of “unexpected” bad economic news and downward “revisions”. Every time there is bad news, the headlines call it “unexpected”. Unexpected by whom? Economic illiterates?