By Dave Lindorff
So much for economic “green shoots.”
The Obama administration and the Federal Reserve, along with the servile corporate media, have been quick to grasp at and trumpet every little suggestion that things might be improving, as they did when the Labor Dept. announced last week that new unemployment claims had dropped to “just” 434,000, from a high of 684,000 in the week ended March 28 or last year.
Or when the Commerce Dept. reported last month that November housing starts had risen by 8.9% compared to the prior month.