‘Twas the time to recover and all through the shops… (The Christian Science Monitor)

Whew, another year has flown by, and it’s been a news-filled one for the US economy. Here’s a look at the economic year in review, in verse, inspiredby the classic “A Visit from St. Nicholas” by Clement Clarke Moore. ‘Twas the day before Christmas and all through the land,The economy was stirring, though it still needs a hand.We’ve hung up the stockings, and spent without fearWith hope a jobs rebound will soon be right here. But while looking ahead, we must also glance back;It’s been quite a year. Business news? There’s no lack.Things started off cool – at Dow 10-4-2-8.”ObamaCare” was coming, but would it be great?

Investors were fretting, not sure what to trust. Was China an engine or starting to rust? By September we’d learn the recession was over. Since June of ’09 we’d been living in clover.

To be more precise, GDP has been growing, While incomes and jobs – well, not much was flowing. The stimulus helped, at least so it is claimed By the many disciples of John Maynard Keynes. The bankers were nestled all snug in their beds, While visions of bonuses danced in their heads: “What need for that TARP? We are cleaning our books, Quickly signing foreclosures. No, you don’t need to look.” One day out in ‘Frisco there arose such a clatter I sprang from my desk to see what was the matter. Away to the TV I sped like a bomb, And opened my browser to Apple.com.

That bristle-haired huckster, with his weaves and his bobs –I knew in a moment it must be Steve Jobs.He showed a new gadget, by name of iPad.”I’ll get one!” I said, “if there’s one to be had.”

I purchased that tablet without even thinking.And soon its sharp screen in my fingers was blinking.Yes, maybe there’s life in that good private sector!But it had downs and ups like a movie director.

Is oil the next fountain of wealth and of jobs?May be, but this year it was oozing in blobs.BP’s spill in the Gulf, it was finally capped,But it grounded the shrimpers, and profits were zapped.

For ups, check Detroit, where perenniel gloomAt last took a break so some new hope could bloom.Good money was made by carmakers. You bet!Ford thrived without bailouts. GM paid back some debt.

The media mavens were part of the story,As the battle for audience became a bit gory.Some networks and papers edged out of recession,But the Web was the platform for loudest expression.

“Sell Newsweek! Go Google! On Facebook and Twitter!Can I scribe for Politico, or help HuffPo glitter?Blog from the housetops! It can often enthrall.Now hype away! Hype away! Hype away all!”

In the White House Obama was itching to seeNew jobs fall from the sky or appear on a tree.Employment was scarce, and he got all the blame(Fair or unfair) when Election Day came.

And then, in a twinkling, he heard on the roofThe prancing and pawing of … some sturdy hoofs?He looked out his window and saw Sarah Palin,And were those some caribou that she was trailin’?

With pressure on Obama to adjust his course,He met Mitch McConnell and traded some horse.The table was set for bipartisan stew.”Bush tax cuts? Yes, please. And a payroll break, too.”

Over at the Fed was a man with beardWho was trying his best, though some thought his plans weird.His eyes – how they twinkled on prime-time TV.”We’re not printing money, not one dollar, you see.”

But many had questions for St. Ben Bernanke.Is “Q.E.” a good med or some hanky panky?We’ll know in a while if his bond ‘cumulationBoosts real GDP or unleashes inflation.

That’s just one of the worries as the year nears its end.Will the Euro zone crash? Will stocks keep their trend?But a wink from the Fed chief, it tilts me toward cheer:”Happy Christmas to all, and a good-filled new year.”

This news, ‘Twas the time to recover and all through the shops…
(The Christian Science Monitor)
excerpt from US Economy

Short URL: http://www.usnews9.com/?p=5453

Posted by on Dec 27 2010. Filed under Business. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry

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