since late last year, the MSM has been gleefully reporting that the US economy was in a recession. Never mind that the threshold has yet to be crossed, we were in a recession because they said so. But are we?
“Imminent” recession may cost NYC 59,400 jobs: study
NEW YORK (Reuters) – An imminent recession could cost New York City 59,400 jobs between now and the middle of next year, with the profit-stricken financial sector the “epicenter” of the downturn, a new report said on Tuesday.
An “Imminent” recession? Even Reuters put it in quotes. I thought we were already in a recession? The real fun though is that this recession, which hasn’t happened yet, might, if it does happen cost jobs in NYC.
Let’s see if I can play the “create a catastrophe” game as well as the MSM…
An Imminent recession may cost NYC LOTS of jobs. If LOTS of jobs are not created or perhaps lost in NYC, taxes will possibly DRAMATICALLY decrease for the city. This DRAMATIC decrease in taxes might be enough to cause NYC to be unable to satisfy its general obligations and you may find that NYC DELCARES BANKRUPTCY. If something that dramatic were to occur, well, who knows what the effect on the overall US economy could be. In fact, if bad enough and if it rippled across the US we could find that in the extreme it’s possible that THE US DOLLAR BECOMES WORTHLESS.
But I may be a bit a head of the game:
Although the data are still too ambiguous to determine whether New York City is already in a recession, the report said the “Independent Budget Office is forecasting that a local recession is imminent, if it has not begun already.” No recovery is seen until the second half of 2009
Huh? The data is too ambiguous to know if they are in a recession but obviously clear enough to show that they will be and, that when they are, it won’t get better until late 2009!
Wait, this sounds vaguely familiar….
In a New Climate Model, Short-Term Cooling in a Warmer World
I guess when you already know how the story will end, the interim plot points are just so many superfluous words.
