Expectations

One of the things the second Depression has brought is a corruption of the language of economics. This is ironic in that the word "Depression" was never used as an expression of an economic condition until President Hoover was trying to find a psychological explanation for the failure of his ineffectual interventionist economic policies.

Well, today we constantly hear the term in economics that a certain economic indicator whether unemployment, or housing, or whatever was "better than expected." This is very convenient for those who want to avoid and deny the very deep and structural economic problems that are prevalent today. Those that want to avoid the enormity or the economic problems facing the country who are virtually all major media and both major parties, are the ones that create the "expectations." So then when horrible or tepid economic numbers come out they can just smile and say "better than expected!!"

This also occurs in a negative way when elites in both parties want a certain bill passed like the massive bailout in late 2008 that BOTH Obama and McCain personally lobbied for. The expectations were built up that if the bill didn't pass there "will be a second Depression". Well, the bill eventually passed because of these awful "expectations". For one day it was said that there would be "auctions" to sell off the bad debts. Then it simply became the bailout that OWS and Tea Parties are so livid over today.

So I say beware of expectations. You will get the disaster you say you expect with a wink and a nod. It will come in forms you least expect in ways that you cannot avoid. Problems avoided simply find other ways of manifesting themselves like energy that can never be destroyed. There is no statute of limitations on economic depressions. So I say no more expectations.