It has been a while since I have said anything about Treasury Secretary John Snow, but even so, many of you may have the impression that I don’t have a high opinion of him. Yesterday, Snow opened his mouth a couple of times and these pearls of wisdom spewed forth.
Snow was reported as having said that energy prices are denting GDP growth and public confidence in the economy.
No shit, Johnny boy! I would have never guessed that without your telling me.
When the government reports the monthly inflation numbers, they always omit the “volatile food and energy sectors” in their reported numbers so it makes inflation seem very tame. Ever since they shut down that cathouse down the street, it seems I have spent all of my money at the gas station and the grocery store. Okay, I spent all my money at the supermarket and the Phillips 66 before they shut down the cathouse. When all ones money goes to fill up the car and splurge on an occasional tomato, it is hard to be enthusiastic about the future of our economy. I’m just glad Snow finally figured it out. Maybe now, he can tell someone else in the Bush Administration. As if anyone there would actually listen to anything.
When the job growth numbers came out yesterday at 78,000—about 107,000 lower than the expected number—Snow was interviewed on the Fox “News” Network and said that he expects the economy to continue to grow at a rate of 180,000-185,000 in the months ahead.
If there has been one constant in our current economic recovery it is that the job growth numbers have consistently failed to live up to what the administration expects.
Secretary Snow, we didn’t believe you before and were not believing you now, because you seem to be very late in the game when it comes to speaking the truth.
Here in Jimbo’s world, we want the truth early and often.
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