Have you ever smelled Durian fruit? Don’t. “It’s odor is best described as pig-shit, turpentine and onions, garnished with a gym sock. It can be smelled from yards away. Despite its great local popularity, the raw fruit is forbidden from some establishments such as hotels, subways and airports, including public transportation in Southeast Asia.”
https://twitter.com/WilliamTeach/status/918651202014937088
From the article
Since the first rumblings of the financial crisis, in 2007, people have comforted themselves by looking back to the Great Depression and thinking about how much worse things could be. It’s true, too. Our modern economic crisis has been far less severe than the Depression.
Yet our crisis isn’t over. By almost any measure — employment, income, net worth, total output — the economy is still suffering.
Of course, writer David Leonhardt avoids mentioning Obama, or assigning any blame for the terrible recovery, and attempts to point towards 2019 as being bad (and that Government should spend oodles of money, because that worked wonders, eh?), but, the basics are there: the Obama economy was terrible. Eight years of ineffective policies and massive debt really didn’t help.
Of course, if things are so so in 2019, they’ll simply blame Trump. We won’t hear the whole “inherited” meme.
The last job report was DOWN 33,000 jobs, the first loss since the Republican Great Recession.
Thanks Dotard tRump.
Where’s that middle class miracle when you need it?
The TEACH must read at a 5th grade level.
The article you love and trust also contained:
When the Fed starts raising interest rates, millions of Americans get thrown out of work.
How did we get out of the Great Depression decades ago? Look at the figure you supplied. That upswing in GDP followed massive gov’t spending. Massive. Debt went from 40% to 120% of GDP in just a few years.
Jeff,
Let’s just say your knowledge of economic is as bad as your knowledge of history. We have refuted this assumption of yours multiple times.
“How did we get out of the Great Depression decades ago? Look at the figure you supplied. That upswing in GDP followed massive gov’t spending. Massive. Debt went from 40% to 120% of GDP in just a few years.”
Correlation =/= causation. If you may recall, all of Europe’s manufacturing capacity was destroyed, their workforce largely killed or crippled by the war, and the US could run the table on manufacturing.
boB,
The recovery started in the mid 1930s and continued through the early 40s, before the European manufacturing was decimated. Economists, including conservatives such as Friedman, credit Roosevelt’s New Deal AND the run-up to WWII.
Jeff,
I gather that you assume Keynesian economics is what drives our economy. This was proven to be wrong in the 30s by Keynes. He refuted his own theory after seeing its failure.