Sixty-one percent of the public believes the economy is now suffering through its first recession since 2001, according to an Associated Press-Ipsos poll.Does the typical American even know what a recession is? Or that there is no possible way for them to tell whether or not we were in a recession by instinct?
We may be in a recession, or we may not - the opinion of the Average Joe is irrelevant to that fact.
On to another economically illiterate moron.
Venezuela - President Hugo Chavez on Sunday threatened to cut off oil sales to the United States in an "economic war" if Exxon Mobil Corp. wins court judgments to seize billions of dollars in Venezuelan assets.Chavez is an idiot, there isn't anything that he can do to prevent oil from getting to the United States. Oil is a global commodity and it will flow to the highest bidder, regardless of the irrational desires of a power hungry dictator.