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Fri Jan 4, 2013, 02:20 PM

 

CHART OF THE DAY: THE SCARIEST JOBS CHART EVER



http://www.businessinsider.com/pct-job-losses-in-post-wwii-recessions-2013-1#ixzz2H1UeEcJN

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Reply CHART OF THE DAY: THE SCARIEST JOBS CHART EVER (Original post)
dkf Jan 2013 OP
Skraxx Jan 2013 #1
Tempest Jan 2013 #2
bongbong Jan 2013 #3
Igel Jan 2013 #4

Response to dkf (Original post)

Fri Jan 4, 2013, 02:28 PM

1. A Testament To The Depravity of the GOP

And the grim determination of our President and Democratic Senate to improve the situation. Steadily heading in the right direction is the one bright spot.

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Response to dkf (Original post)

Fri Jan 4, 2013, 02:57 PM

2. Still digging out from the great recession

It took more than 10 years to recover from the depression.

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Response to dkf (Original post)

Fri Jan 4, 2013, 03:00 PM

3. Proves Krugman was right

 

More stimulus spending (how we got out of the other recessions) was needed.

But deficit spending is only OK when a repig is president, so that's why more wasn't spent.

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Response to dkf (Original post)

Fri Jan 4, 2013, 04:08 PM

4. It is.

The slope for the "recovery" has been smaller and smaller. This is the smallest, but close to the one under Bush II.

The 2001's recession slope is barely steeper.

The steeper the downturn, the steeper the jobs creation. The last serious recovery was in '74. Otherwise from '69 to the present each has been more shallow.

In general, the deeper the pit, the longer it would take to get out of the hole. That stopped in 1980 (arguably earlier), and since then we must be doing something different to make sure that it takes far longer than it would have to clean up the mess.

And we started doing something seriously different for the 1990 recession, possibly to some extent in earlier recessions. Whatever it is, it's unclear that it's keep the trough from being deeper this time. It's almost certainly been something that politicians and the general population favor otherwise we wouldn't keep doing it and we'd have heard about it in a way that even the most obdurate "I'm always right" folk would have to at least notice. And it's keeping things from rebounding as quickly as you'd expect.

(Then again, there are those so into post-hoc reasoning that if they say, "Ball, fall!" just before they release it, they're convinced that they're responsible, in that particular case, for the ball's downward acceleration.)

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