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 ...
“I drew up these graphs that mean absolutely nothing to fool the idiots into believing I know what I'm talking about”
Translation by BS speakers may vary
It is “astounding” that anyone could call what is going on a recovery.
As the doctor said: Other being in critical condition you’re in good health.
I am glad to see the economy is doing so well. I can’t wait for unemployment to go higher because then we will be doing even better! I just wish we could get that pesky GDP number to get back into the negatives so we can all enjoy the best U.S. economy ever!
Luckily, the Christmas season is almost upon us and perhaps November and December retail sales will plummet! Wouldn’t that be great?!! A Christmas miracle!
Ladies and gentlemen, we have finally fulfilled the Orwellian doublethink prophesy.
More Crack-induced utter BS from TBI and Weisenthal who have been nothing but shills for Obama. This is worse than the crap Krugman peddles.
I think it says we are better than Greece. WOW.
Would I spoil this cheerleading if I point out that none of those other countries has the currency standard for the world and the “benefit” of $2+ trillion (it’s probably much more) in money creation over the past 4 years? Just a thought.
Gee, we’ve got more than 10% effective unemployment, and the GDP is not quite as horrible as Europe’s. What a great recovery. (snicker)
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.