As the reality of our current financial system begins to dawn on American's I've become aware of a 'mistake' in the economic numbers for our State - we too may already be, "in the shit".
The story, as it's been vaguely reported to me by a credible source, is that the usual summer layoffs from the school system were not reported. This has resulted in 'seasonally adjusted' numbers in the most recent reports that don't include the offsetting regular drop!
I'm not going to accuse anyone of intentional misreporting based on the information I have so far, but it sure seems to happen a lot around election issues in King County and the State.
Ms. Gregoire has already claimed to have met her employment goals in her campaign, but she hasn't, and our economy may well be quite sick from her generation's style of leadership, and certainly not quite so healthy as she suggests.
On a national basis we are currently considering 'bailing out' the financial system, but consider that this too might be a mistake, protecting the people that made the mistake, and not their victims.
Perhaps the folks responsible should 'accept' their responsibility, forfeit their assets as part of the recovery plan, and begin from zero, as opposed to continuing to extend credit to these folks for the purchase of worker's housing.
Comments (1)
I ran into Helen Somers on Friday, by chance. We are both graduates of the UW Econ program. I'd guess also by 'profile', we are quite similar, up to the standards of that somewhat rigorous program, but not of its political leanings.
She though has 20+ years on me.
I mentioned this problem to her, she wasn't totally connected to the conversation, perhaps because she'd been spending time with the UW Board of Regents. Unfortunately she was more concerned with figuring out if there was a partisan 'authority' behind the subject, rather than dealing with the facts.
Posted by Douglas Tooley | September 20, 2008 10:18 PM
Posted on September 20, 2008 22:18