It’s not. And from the looks of it… it won’t any time soon.
The world economy is losing strength halfway through the year as high oil prices and fallout from Japanâ€™s natural disaster and Europeâ€™s debt woes take their toll.
Goldman Sachs Group Inc. now expects global economic growth of 4.3 percent in 2011, compared with its 4.8 percent estimate in mid-April, while UBS AG has cut its projection to 3.6 percent from 3.9 percent in January. Downside risks also include a shift to tighter monetary policy in emerging markets.
It certainly makes you wonder just how bad it really has to get before the Administration or Democrats actually admit its getting bad? I mean, right now the entire thing is collapsing and all we hear from these thugs is how it’s all ok.
Just last month he claimed we’re seeing progress and there were “glimmers of hope.”
President Barack Obama said Friday the economy is beginning to show â€œglimmers of hopeâ€ despite remaining under stress and signaled more steps are coming to brighten the business climate. Obama commented to reporters after meeting at the White House with members of his economic team, including Treasury Secretary Timothy Geithner, economic adviser Larry Summers and Federal Reserve Chairman Ben Bernanke. Here, the full text of Obamaâ€™s
This isn’t the kind of hope we had hoped for.