Saturday, September 04, 2010

It Could Be Worse

I was reading an article that lists five ways the American economy could get worse. Here is one I liked. (bolding mine)

Here's the scenario. Consumer sentiment continues to fall slowly, and spending turns negative again. Small businesses hold off to replenish their inventories or add new workers. Wages and hours freeze, and unemployment takes a leap toward 10 percent in October. Congress is paralyzed, because it's only weeks away from the mid-terms. The stock market sees business revenue trending flat, joblessness rising and Congress doing nothing, and it sparks a 300-point sell-off. Americans frightful for their savings cut back spending even more the next month, and overall growth turns negative.
Congress doing nothing is a negative? In my opinion they have already done far to much. But if they have to DO something might I suggest they undo what they have already done.

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