Mike Huckabee News
Sep 28 2012
One reason the economy stays stuck in the mud is that for every ray of good news, there’s a dark cloud to balance it out, so we never seem to achieve any momentum. Yesterday brought two more examples. First, the good news: the latest Standard & Poor’s Case-Shiller Index found that home prices are finally rising in all 20 cities they check. It’s the third month of gains, and it’s finally happening for lower-cost homes, too, so it’s a good sign that the housing crash has finally bottomed out. Great for homeowners.
But wait: who’ll be able to afford to buy those more expensive homes? The very same day, Sentier Research reported that last month, median household incomes fell by another 1.1 percent. Overall, median family incomes have dropped by over 8 percent since Obama took office. And 5.7 percent of that drop has come since the recession officially ended, which means any rebound is not reaching the middle class.
And how is this news affecting us psychologically? Well, the housing price rise helped spark a surprise 9 percent jump in consumer confidence. But on the other hand, a Business Roundtable survey of 138 corporate CEOs found that their confidence in the future plummeted 23 points in the last quarter, the biggest drop in 10 years. 34 percent expect to cut jobs over the next six months.
So, once again, the Lord giveth and the Lord taketh away. But why does He always have to doeth both at the same time?