Newspoem 14 August 2008

Stagflation

Acceleration of worsening of economy not as bad as predicted

The rate at which the rate of joblessness is accelerating shows signs of
slowing

A difficult-to-disguise increase in the price of gasoline, along with a
more easily obfuscated increase in food prices, and an almost-invisible
stagnation of cost-of-living increases, the minimum wage, and a
suspected decrease in entry-level salaries revealed only to the tiny minority
of successful job hunters, indicate to some wary consumers signs of a
potential economic condition

However, experts warn, the rise of fears of "recession," "depression,"
or total, violent collapse of middle class society may be more intense
than warranted

In truth, there has been a gradual slowing and rollback of valid economic
indicators as the federal government reduces nonmilitary expenses

Nevertheless, the announcement that we may be nearing the end of the
housing crisis may have been optimistic: signs point to growth

The idea that the average citizen—mired in unpayable credit, without
access to health care, unable to find work—may be wondering what the hell
is happening is showing signs of a possible upturn within the next few
quarters

But anonymous spokespeople from the White House assure the media that
possible signs of a future increase in use of the R-word are not borne out
by the data made available to leading economists or cooperative government
agencies