Not all that long ago I pointed out that “Forward” is the new backward. As we progressed into 2013, everyone inherited a tax increase courtesy of the forward progress of the Obama Administration
as it kept its promise not to rasie taxes on the “middle class. Well it has only been two weeks since then and I am here to tell you that Forward is not just the new “Backward,” Backward is also the new Forward.
And Democrats are excited. 2012 4th quarter GDP was not just down from expectations, the economy shrank by -0.1%. But not to worry. No need for the chest pounding, shouting, decrying the damage to women and children, poor leadership, bad policy, the punishing effect on our vulnerable citizens, nor the screeching and demands that accompany such news when Republicans are running the store. This is a good contraction. In fact, this is..”the best-looking contraction in U.S. GDP you’ll ever see.”
So backward is the new forward.
That can only mean that a second quarter of contraction, which used to signal an economic recession, could be heralded as the greatest turn around in recorded economic history. And as long as you control the media and the message….that is exactly what it will be.