Let's hope you're wrong. There's no "hoping" to it. He will be wrong. Completely. This doom and gloom crowd is always wrong.
I will take a bet from anyone wanting to offer me one, that this chart will continue to make the exact same pattern it has made several times before in the past few decades (falling unemployment, spike during recession, temporary leveling off, final spike from shakeout, then falling unemployment for several years). This is how capitalist economies work (yet the doom and gloom crowd screams and cries about heartless capitalism ("offshoring", etc.) every single time. And every single time they have been wrong:
You'll also note that, ever since 'ol Ronnie came to town, the peaks have stopped getting higher and started getting lower each time...
Thanks for that chart Dawg. It proves an interesting point...unemployment is not a factor tied to the current state of the economy...just look at the years 1977 - 1981, under the 'leadership' of Jimmy Carter.
It shows falling unemployment...yet we know for a FACT that these specific year were some of the worst economic times in our recent history (high interest rates, inflation, etc).
This chart also shows that Republicans tend to make courageous corrections or advances that show 'spikes' in unemployment but also fast recoveries in job growth, and if a parallel chart were viewed, would also show broad based economic growth, tax reductions, rising markets, etc.
The USSR had low unemployment...was that a factor in their 'economic success'?
What gets me is how little (never) you hear economists or political pundits point out the 'false' economy of the late 1990's...dot-coms that became dot-bombs, stock prices over inflated without earnings, an over taxed citizenry who were raking in all those 'false' stock market earnings and were 'happy' to pay taxes on those quick wins...and, voila...we have a budget surplus! Shazam!
The other thing that drives me nuts is when you hear comments from mainstream media types about how much the Enron collapse cost investors...TRUE, and no defending those criminals. But, you never hear the stories of all those people who sold Enron stock on the way up and earned (probably) an equal amount of billions. Same goes for other stock success stories of the 90's.
The Clinton Economy, like him, was a lie.
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