It never ceases to amaze that American liberals are astounded that European-style socialism just does not work in the United States of America, and no other place, and never will. The latest issue of "Time" magazine (Oct. 10, 2011) provides yet another example of baffled liberals in the "mainstream" media -- mirroring the attitudes of the hard-left in the Obama administration -- bewildered about why America's economy is still in a tail-spin almost three years after Barack Obama took the oath of office.
Rana Foroohar, in her lead story article in Time magazine entitled "A New Era of Volatility" , writes: "A global double-dip recession, implausible in spring, is now a distinct possibility come autumn." Today, Federal Reserve Chairman Ben Bernanke today in testimony before Congress said that the U.S. economy is growing more slowly than the Federal Reserve expected. Poor job growth is depressing consumer confidence.