According to Federal Reserve Chairman Ben Bernake, the recession is “likely over.” Yes, I know you may feel otherwise, so let me interpret Ben The Visionary’s remark. What he really means is this: The recession is over for those who invest in the U.S. stock market, especially the financials, but live somewhere else, like, oh, say maybe Mumbai.
For the rest of us, Ben says to expect a “jobless recovery,” because, of course, like I just said, any newly created jobs will, in all probability, be outsourced.
American consumers who once represented 70 percent of the nation’s GDP will no longer be relevant in the now recovering economy. The future drivers of our country’s economic health will be stock and commodities speculators and executives with obscene bonuses.
It doesn’t really matter whether you’re employed. As long as tax burdens are shifted to behemoth corporations and “rich fat cats,” whatever you once paid the IRS is, quite frankly, now of little significance. Especially since you’re looking at years of unemployment or underemployment ahead. Already you’ve been squeezed for about as much as can be gained from you. It’s time to put the tax burden on someone else.
To summarize, the recession is officially over. The man who precisely called the beginning of this downturn—give or take a year—has spoken. So please resume your normal life concerns and forget about your broken savings accounts, lost careers, abysmal home values, and, most importantly, your government representatives’ responsibilities.