"Recovery Summer V" Fizzling Like All Its Predecessors

by JASmius

If once is a fluke, and twice is a coincidence, and thrice is a trend, what do you call the fifth incarnation?:

While many analysts expect the economy to grow 3% or more for the rest of the year, rebounding from the first quarter's 2.9% contraction, Jeffrey Snider, chief investment strategist at Alhambra Investment Partners, thinks they have it all wrong.

Since the end of the 2007-09 recession, "the expectations of the Recovery Summer have fallen short with what should be more shocking in terms of regularity," he writes on the firm's web site.

The idea that it was just snowstorms holding the economy back in the first quarter is ludicrous, Snider says. 

Meanwhile, the second quarter was to be "the unquestioned springboard to the guaranteed promised land," Snider writes.

"There must be more than a little bitterness to the growing realization that the second quarter has not been all that much better than the first."

And the first, of course, was borderline apocalyptic.  Q2 would have to dramatically improve in order to be "only" godawful.  And if it shows even a "smidgeon" of a contraction - minus-0.000000001% - we have a recession, ladies and gentlemen, we have a recession.  And Barack Obama would not be "inheriting" this one from anybody.  And it would not be driven by "man-made carbon-emission disruption of the oceanic thermal regulation mechanism" (aka "snowstorms"), but by Obamanomics, ObamaCare, and his Regime's jihad against the American energy sector.  Without a single George W. Bush anywhere in sight.

What do you call the fifth incarnation of an unmistakable downward economic trend?  I call it the Second Great Depression.  Or the Obamapression.  Or a planned economic Armageddon.  Take your pick.  Whatever the label, it's already under way.  And more and more Americans are waking up to it, Neo-like, to behold the horrors to come.