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The US Recovery Has Been Astounding And Now Here Comes Its Final Huge Test
TBI ^ | 11-14-2012 | Joe Weisenthal

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

Joe Weisenthal
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.

Reinhart/Rogoff

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.

Josh Lehner

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.

Business Insider

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?

(snip)

(Excerpt) Read more at businessinsider.com ...


TOPICS: News/Current Events
KEYWORDS: collapse; economy; recession; recovery
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1 posted on 11/14/2012 6:09:29 AM PST by blam
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To: blam
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.

What an amazing piece of doublethink in that one sentence.

2 posted on 11/14/2012 6:13:08 AM PST by Flick Lives (We're going to be just like the old Soviet Union, but with free cell phones!)
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To: blam

And all it took was electing the right anti-American racist freak president twice to achieve this STUNNING success.


3 posted on 11/14/2012 6:13:29 AM PST by treetopsandroofs (Had FDR been GOP, there would have been no World Wars, just "The Great War" and "Roosevelt's Wars".)
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To: blam

The links didn’t work for me ... this one did:

http://www.businessinsider.com/the-fiscal-cliff-is-the-first-huge-test-for-the-us-recovery-2012-11


4 posted on 11/14/2012 6:14:00 AM PST by MissMagnolia ("It is when a people forget God that tyrants forge their chains" - Patrick Henry)
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To: blam

...whistling past the graveyard.


5 posted on 11/14/2012 6:15:29 AM PST by rashley (Rashley)
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Comment #6 Removed by Moderator

To: blam
ALBERT EDWARDS: Here's Why The Market Has Been Tanking
7 posted on 11/14/2012 6:16:25 AM PST by blam
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To: blam

I have an economics degree & these graphs are so convoluted I can’t understand their significance.


8 posted on 11/14/2012 6:16:33 AM PST by skeeter
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To: blam

this is a joke, right?


9 posted on 11/14/2012 6:16:43 AM PST by GeronL (http://asspos.blogspot.com)
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To: sport

I am with you 100%.

That said, we need to hire Americans or we are done.

Hire Americans.

Now.


10 posted on 11/14/2012 6:17:39 AM PST by Cringing Negativism Network
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To: blam
So if you try to link to the rest of the story you get WHOOPS

Seems like some April fool's joke. I don't get it.

11 posted on 11/14/2012 6:17:44 AM PST by lbryce (BHO:"Now, I am become Death, the destroyer of worlds by way Oppenheiner at Trinity NM)
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To: blam

This article is absolute horsecrap.


12 posted on 11/14/2012 6:17:55 AM PST by jimt (Fear is the darkroom where negatives are developed.)
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To: Flick Lives

That dude is smoking some serious dope. I “aint been” that messed up in 40 years.


13 posted on 11/14/2012 6:18:10 AM PST by cpdiii (Deckhand, Roughneck, Mud Man, Geologist, Pilot, Pharmacist. THE CONSTITUTION IS WORTH DYING FOR!)
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To: blam
Now, subtract the Federal spending component of GDP for the last three years and US GDP is contracting. The only thing growing is government spending. Real economic growth has been non-existent:


14 posted on 11/14/2012 6:18:48 AM PST by andy58-in-nh (Cogito, ergo armatum sum.)
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To: GeronL
this is a joke, right?

Satire?

15 posted on 11/14/2012 6:19:39 AM PST by BluH2o
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To: blam

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)


16 posted on 11/14/2012 6:20:39 AM PST by ProudFossil (" I never did give anyone hell. I just told the truth and they thought it was hell." Harry Truman)
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To: GeronL
this is a joke, right?

From businessinsider.com? That would make it a "yes."

17 posted on 11/14/2012 6:23:58 AM PST by 1rudeboy
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To: blam
Blam, forgot to close yer tag . . .


< /world-class fofl >



18 posted on 11/14/2012 6:24:09 AM PST by tomkat (a million tiny cuts .. add yours daily .. be creative)
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To: blam

The links don’t work.


19 posted on 11/14/2012 6:24:22 AM PST by WashingtonSource
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To: blam

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!


20 posted on 11/14/2012 6:25:03 AM PST by Syntyr (Happiness is two at low eight!)
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