Oakland Rioters: Obama’s Base
What is the new term? There’s a new term, “income…” (interruption) No, “mobility” or some such thing. I’ve got it here somewhere. There’s a new term to describe their grievance here. But if they’re really concerned about the economy picking up to the point that it’s going to help them, this is sure a strange way of going about it. I’m convinced this is not what they’re trying to do. They’re trying to create chaos and distrust, disharmony, any number of things. “The Federal Reserve yesterday sharply downgraded its projections for the economy warning that weak growth and high unemployment are going to be the norm for years,” a nation in decline. Here’s the Fed chairman saying this is the new norm! “The Fed expects the unemployment rate will be around 8.6% at the end of next year.”
Currently it’s at 9.1%, “and will still be at the fundraiser and 7.7% in late 2014. In their June forecast, federal officials said joblessness would come down faster to around 8% by the end of 2012 when the next presidential election will take place.” Well, isn’t that kind of magical? Really? Fed officials said that… Well, they back in June. Nw they revised it. It’s not gonna be that good. They were holding out good for that magic 8% figure because no president’s ever been reelected with unemployment over 8%. I’m just telling you, if the number this time a year from now is 8.9%, it’s gonna be 8%. They won’t tell you about the 0.9.
If it’s 8.5, it’s gonna be 8%. They’re not gonna tell you about the 0.5. Now, “Despite these projections, the Fed’s policy-making board declined during a two-day meeting that ended Wednesday to take any action to boost growth, leaving interest rates very low right now unchanged as its.” Now, folks, I have to tell you: The Federal Reserve is the Federal Reserve, but this is simply unacceptable. It doesn’t have to be this way.