That's what happens when you s*** all over the place.
"Nation’s ‘carpet capital’ struggles to recover; Thousands of jobs were lost" by ASHLEY HOPKINSON | Associated Press, September 02, 2012
DALTON, Ga. — Factories dot the highway and carpet retailers and mills line the main street through this town nestled in the north Georgia foothills of the Blue Ridge Mountains, making clear why Dalton was dubbed Carpet Capital of the World.
Many of those businesses are shuttered now, hinting at one of the city’s more dubious distinctions: The city has lost more jobs per capita in the past year than any other in the United States....
Factories in and around Dalton produced three-quarters of the nation’s flooring until the housing bubble burst and brought one of the largest US manufacturing industries to its knees....
Recovery has been elusive here....
And everywhere else save the top stratosphere of income.
The Great Recession was a deep one, and nationwide the recovery has been weak compared to past economic downturns....
The Grand Depression isn't over yet.
--more--"
Actually, Globe says it's a normal recovery:
"Slow economic recovery fits post-crisis pattern" by Megan Woolhouse | Globe Staff, September 09, 2012
Two starkly different views of the nation’s economic recovery emerged during the recent political conventions as Republicans decried the progress as an utter disaster, while Democrats hailed an economy that has vastly improved since the darkest days of the worst recession in 70 years.
See: God Has Spoken
A Disgusting Democratic Convention (Updated)
I'm glad I missed them.
But the true picture lies somewhere in between, economists said.
As if my agenda-pu$hing piece of corporate $hit is interested in truth.
As evidenced by another month of weak job growth in August, reported by the Labor Department Friday, the economy still lags. More than three years after the recession, the nation has regained only about half of the nearly 9 million jobs lost in the downturn, and unemployment remains high at 8.1 percent.
And it only went down because 400,000 people dropped off the rolls.
Such slow progress, analysts say, is to be expected given the nature of the recession inherited by President Obama, one precipitated by the near collapse of the global financial system and one that continues to reverberate around the world.
Harvard University economist Kenneth Rogoff, who has studied 800 years of recessions in 66 countries, said the pace of the recovery is consistent with those that followed other meltdowns, such as the Great Depression.
Really, what are they smoking over there at Harvard?
“This was such a global crisis compared to other post-World War II crises,” Rogoff said. “It meant it was more dangerous and harder to dig your way out of.”
Meaning globalization failed and this guy is talking out of both sides of his mouth!
Most economists agreed that the US economy is on the mend and that the Obama administration’s $800 billion stimulus package helped save the nation from a second Great Depression by putting a floor under an economy in freefall.
We call it stimuloot.
But it also fell short of expectations and triggered a national debate about federal deficits — an unresolved issue that still hangs over the recovery....
Mark Zandi, chief economist at Moody’s Analytics, a forecasting firm in West Chester, Pa., said, “The thing I take the most exception to is the argument that government screwed up here — government saved our bacon. It was very costly, but the cost would have been measurably different and greater had the government not interceded.”
The US financial system and economy stood on the verge of wholesale collapse four years ago, when the last presidential campaign was in full-swing. Obama took office in January 2009, the worst single month of job losses during the recession, as employers slashed nearly 820,000 jobs.
Economies damaged by financial crises rebound more slowly because the flow of credit remains impeded long after the recovery gets underway. Credit is a vital nutrient for growth, supporting consumer spending, business expansion, and ultimately hiring.
I'm sorry, readers, but I can't take reading this rank propaganda anymore.
The recovery has also contended with the continuing financial crisis in Europe, which has flared in each of the past three years, weighing on the US economy just as it appeared to be gaining momentum. Last summer, the standoff in Congress about increasing the national debt ceiling raised the spectre of a US default, spooking global markets and creating additional drag on the recovery....
Yes, the problems are caused by anything and everything except the private central banking system that destroys economies.
Of the four US recessions in the last 30 years, only the recovery that followed the 2001 downturn experienced slower job growth at this point in the economic cycle....
Then it ISN'T NORMAL, and one might even say it is a bit BELOW AVERAGE!!
--more--"
Also see: Boston Globe Giving You the Business
That's why I rarely read that section anymore.
A different kind of carpet in use today:
"Fan dies after Georgia Dome fall
ATLANTA — A 20-year-old man from Tennessee who plunged about 35 feet from the upper level of the Georgia Dome and struck another fan during the Tennessee-North Carolina State game has died, authorities said Saturday. The man fell on another fan seated in the mezzanine area during the game Friday evening, The Georgia World Congress Center Authority said in a statement (AP)."
