Tuesday, June 5, 2012

The U.S. Economy Isn't Just a Man-Made Disaster Film: It's an Epic Trilogy

We're living through the third installment of a depressing annual tradition: the summer slump

Summer is the season for blockbuster sequels. But even with millions of dollars in CGI and marketing, nothing at your local movie theater can match the country's most closely-watched repeat performance: the spectacular explosion of the US recovery.

In the first installment, the lights go on 2010. The economy has been growing for nine months. The stimulus act, boosted by temporary Census hiring, lifts job creation to a whopping 516,000 in May. But one month later, we lose 167,000 jobs. We lose 58,000 more the next month, followed by another 51,000 in August. By the end of the year, the stimulus is nearly exhausted. As the year enters its final frames, something strange happens. The economy shows signs of lasting life. We did it everybody. Roll credits on the Great Recession ... Read more.......

No comments:

Post a Comment

Everyone is encouraged to participate with civilized comments.