Wednesday, August 31, 2011

Double Dip Post of the Week

The double dip is obvious in this chart.

Yes, there is a scratch on this blog causing it to skip and repeat, but that is only because of the scratch on the economy causing it to skip.

This is a depression, not a recession, in terms of jobs. The growth rate and signs of progress in FDR's day form what we now think of as the Great Depression. Jobs and income equality should be the measure not GDP growth. By the historical GDP measure we are doing fine but are possibly going into another recession, In real terms, we have never gotten out of this awful thing! "We still can't find jobs!!! AHHHHHH!"  There is no "double dip" there is only one large dip with aberrations. And now we are tightening government spending.

Please, someone, call CNBC and tell them. They will listen to reason, surely. :)