It appears the plan for economic revival has pretty much been reduced to Evan Bayh’s war on regulation and vaguely reassuring (not really) words from Ben Bernanke:
The economy lost some momentum recently, Ben Bernanke acknowledged Tuesday, but the Federal Reserve chairman is still optimistic that the recovery will pick up again in the second half of the year.
In a speech on Tuesday, Bernanke twice called the job market “far from normal” and conceded, “the economy is still producing at levels well below its potential.”
But he also said the factors behind recent weakness are likely to fade in coming months.
If you thought there might be a brief bit of urgency about employment once the numbers came out a couple days ago, forget about it. The market has already forgotten and is working on tomorrow’s pump and dump scheme or figuring out which commodity to fuck you with next, and the powers that be have apparently decided they can do nothing and ride out the political storm.
We’re just screwed. We’ve got Krugman and a bunch of bloggers, while everyone else is on the payroll.