Skip to comments.The US Recovery Has Been Astounding — And Now Here Comes Its Final Huge Test
Posted on 11/14/2012 6:09:25 AM PST by blam
The US Recovery Has Been Astounding And Now Here Comes Its Final Huge Test
Nov. 14, 2012, 6:55 AM
It's of no comfort to the millions of Americans who are unemployed, but the fact of the matter is that the US economic recovery has been extraordinary.
From the dark days of late 2008/early 2009, the economic recovery has been surprisingly strong, given the crash conditions that went into the slump.
As this chart rom Carmen Reinhart and Ken Rogoff makes clear, the US GDP recovery is well above historical systemic crises.
Even on the employment front, the US recovery has been impressive.
Oregon economist Josh Lehner made this chart comparing the employment trajectory of the US recovery vs. other financial crises in recent history.
In the chart, the US recovery is the bright red line. We've recovered job losses faster than any other post crisis economy, with the exception of Japan.
And of course on a global basis, the comparisons look great.
It's been uneven, but compared to Europe and China, the US economy (blue line) has been a workhorse.
It's because of this impressive performance, that hedge fund manager Ray Dalio has called this the 'Beautiful Deleveraging'.
And make no mistake, there has been deleveraging. While some people like to talk about how we've only "kicked the can" because government debt is up so much, the truth is that total debt-to-GDP (when you include all private and public debt) has declined nicely in recent years. It's now at a 6-year low.
How did the US accomplish this extraordinary feat?
(Excerpt) Read more at businessinsider.com ...
What an amazing piece of doublethink in that one sentence.
And all it took was electing the right anti-American racist freak president twice to achieve this STUNNING success.
The links didn’t work for me ... this one did:
...whistling past the graveyard.
I have an economics degree & these graphs are so convoluted I can’t understand their significance.
this is a joke, right?
I am with you 100%.
That said, we need to hire Americans or we are done.
Seems like some April fool's joke. I don't get it.
This article is absolute horsecrap.
That dude is smoking some serious dope. I “aint been” that messed up in 40 years.
Reminds me of th;eir statements that putting more people on welfare will increase spending and lead to the recovery. I applied for welfare but was told I make too much on Social Security and so I cannot improve the economy. Bummer. (sarc)
From businessinsider.com? That would make it a "yes."
< /world-class fofl >
The links don’t work.
What a load of bull poop!
Subtract out government spending and our GDP has actually contracted from 2008 to current.
As Bugs Bunny would say what a Maroon!