Here we are in the new year and a president who tells us that the economy outlook is getting better through his spokespeople----
Jobless claims hit a 10-week high last week while producer prices shot up in December, pointing to headwinds for an economy that Federal Reserve Chairman Ben Bernanke said was showing fresh vigor.
However, a surge in exports to their highest level in two years, which included record sales to China, helped narrow the U.S. trade deficit in November, an encouraging sign for fourth-quarter economic growth.
The data on Thursday marked one step forward and two steps back for an economy that appeared to gain a bit more momentum toward the end of last year.
Bernanke as proven to be the consommé fool who couldn’t tell the time of day or how to improve the economy.