The horrendous economic news continues.
- The U.S. Fed lowers it outlook for U.S. 2009 GDP and year end unemployment
- Japan sees no near-term bottom to the economic outlook
- The World Bank is calling on the EU, which has no central bank and therefore no money, to bail out Eastern and Central Europe, or something like that
- The housing/mortgage component of Obama's economic Rube Goldberg is a complete and utter joke
Seriously, we are going to subsidize people who couldn't afford the house they bought in the first place at the same time that we are not going to get a supply/demand based bottom in house prices.
More populist, porkulist garbage.