Monday, July 11, 2011
Chart of the Week: A Recession Like No Other
Readers have seen this chart before but it is not getting any better so US Person posts it again. In fact this single metric, not Romney {"Mormon"} or any other Repugnant candidate, can defeat the Obamatron. Job creation in this country, to put it in a word, is pathetic. All previous recessions are nothing to compared to this Second Great Depression. Yes, it could be a lot worse: unemployment at 30% instead of the official 9%, and by some measures double that. However, Obama & Folks, Inc. have swallowed the "confidence fairy" as economist Paul Krugman describes the Hoover-like prescription of fiscal austerity to instill financial sector confidence. Once again, workers are being sacrificed on the altars of Mammon. Even one of the Repugnants' leading apologists, David Brooks, says of their inexplicable opposition to some revenue increases in return for significant social benefit cuts, that his political party may no longer be "a normal party" but a faction for "psychological protest" that has separated itself from "normal rules of evidence and ancient habits of our nation". In US Person's experience cognitive dissonance never bothered a conservative.