Every one of 85 supposedly expert economists surveyed by Bloomberg News expected and had been predicting something upbeat. The Bloomberg report was typical of reports by media outlets across the board.
None of the ordinary citizens with whom I have communicated were at all startled by the dreadful news. In fact consumer confidence has been plummeting and is continuing to do so.
Underlying the huge chasm between the so called "experts" and working Americans is that the former are endeavoring from their ivory towers to explain away the obvious failure of the Obama administration's economic program while the latter, living in the real world, recognize Obamanomics for the calamity that it is. Proof of this is the following quote from the end of the Bloomberg news report:
People -- meaning the interviewee's fellow Obama backing economic experts -- were digging everywhere to predict better growth.
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