There’s a lot of talk out there about green shoots, economic recovery and stabilization. Most people aren’t predicting giant leaps in GDP anytime soon, but some are predicting modest global GDP growth between 2-4 percent for 2010. As Greece goes bankrupt and looks to its EU compatriots for help, remember they’re not the only nation on the belly up path. And from a United States perspective, here are the numbers you should be hearing on a daily basis, but aren’t. It isn’t just a matter of restoring economic growth and reducing unemployment. Surprise, surprise: debt, unfulfillable promises and easy money have consequences. Unfortunately, we have plenty of all three:

Economic forecasts are a funny thing. If they attempt to project anything beyond the short-run (one year), be very skeptical. But short-run forecasts are not iron-clad either. I have a great time on this site making fun of economists and their predictions. Guessing what the intricate convergence of millions, if not billions, of different economic agents and their decisions will be, is kind of an exercise in futility. So if I were to predict what crude oil will do in 2010, I’d give you some markers to help you make your own decision long before I took a specific barrel price and defended the position.

Why can multi-national big business provide such value (not only lower prices, but improved availability of products, convenience, and, at times, quality)? In large part, it is a phenomenon called economies of scale. The larger a firm’s production volume is, the less input costs allocated to each individual unit. The local food model does not transport its food on semi’s or jetliners. Already, you have less space to store transported food. Put another way, each individual food item bears a greater cost of the fuel. Imagine a 1974 Chevy truck bed compared to a semi stuffed to the rafters. Now imagine organic strawberries in each. Which supply chain model do you think will deliver the lowest carbon emission per strawberry? Not to mention cost per unit. Here is a study debunking the food mile myth, with Kenyan green beans transported to the United Kingdom.

Brilliant:

The Group of 20 (G20) met in Scotland over the weekend, bringing together central bankers and financiers of nineteen countries, and the European Union (EU). The collection of nations constitute 80% of world trade and two-thirds of the world’s population. (1) Discussions of “re-balancing” the world economy have taken place over the last few months by members of the G20; those sentiments continued this weekend in St. Andrews, but apparently only in general terms. (2)

Breaking News: According to the Onion News Network the U.S. government has faked a coup in order to renege on our debts. It apparently beat out our other options like pretending to be Canada or burning the country down to collect the insurance.

Now that we can admit Hoover did more than any president before him in fighting off an economic recession, what should we conclude from this… The first time the Federal Government significantly intervenes to stop an economic downturn just happens to be at the beginning of the worst depression in American history, thus proving the government didn’t do enough?

Stand up economist/comedian Yoram Bauman translates the basic principles of economics

So naturally, when retail gasoline prices spiked 62.7% since December 29, 2008, amidst a severe recession, I wanted to know why. Put another way, average U.S. prices at the pump have increased more than a dollar per gallon. Intuitively, we know this isn’t a positive event for economic recovery. But some say the increase in gasoline demand, and thus the price, is an indicator of economic recovery.

Our 24-year-old car owner, let’s call him J.C., used to get from point A to point B in a 1987 Toyota Camry. And there’s nothing wrong with that. But the Camry had some mechanical issues; issues that the aforementioned expert mechanic couldn’t even put his finger on. When it rained, which happens occasionally in the great Northwest, the Camry often puttered out on the road. Sometimes, even beautiful, sunny weather would disagree with it. Getting from first to second gear in the Camry sometimes meant the engine would die, and you’d be rolling amongst traffic, with zero ability to accelerate. If this wasn’t enough to swallow, car thieves had quite an affinity for the Camry. In its seven-year history as J.C.’s loyal confidante, the Camry was stolen four times. Stereos were pilfered, direct iPod hook-ups taken and I’m sure other fun was had in the Camry that J.C. will never fully appreciate (I like to imagine stickups and high speed chases, but to each their own). For the record, let it be known that the Camry was totaled before J.C. called it his own, thus it had a salvaged title. As any benevolent person could understand, J.C. was eager to get another car. Insert Snowflake.