Published by the Foundation for Economic Education
February 14, 2012 | Subscribe via RSS
Some needed perspective on the recession from economist Alan Reynolds in the New York Post:
With one exception – the steep 45 percent drop in the S&P 500 stock index since October 2007 – few other indicators of economic distress could support this being the worst postwar recession. Thanks to low inflation, for example, real disposable income rose every month during the fourth quarter – at an annual rate above 6 percent.
Have a look at his chart:
Politicians in Alabama and Georgia are cashing in on immigration fears to buy votes, but everyone pays, as Scott Beaulier, Darrick Luke and Daniel Smith explain. Robert Higgs asks if regime uncertainty explains the current malaise. Andrew Morriss marvels at how much better we live than Elvis did. Gary Chartier asks who’s really on the side of the poor and Robert Murphy says the Euro shows how little one can expect from a currency born entirely of government.
Reviewed by Aeon J. Skoble
Reviewed by Lawrence H. White
Reviewed by George C. Leef
Reviewed by Wendy McElroy
by Scott Beaulier
by Andrew P. Morriss
by Gary Chartier
by Richard W. Fulmer
by Peter McAllister
by Robert P. Murphy
by Samuel R. Staley
by John Stossel
by Tyler Watts
by Robert Higgs
by Sheldon Richman
by Sheldon Richman
by Charles W. Baird
by Donald J. Boudreaux
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Comment by Tom Green on 9 February 2009:
Which of those numbers hasn’t been manipulated since the 1980s? I prefer ShadowStats numbers which make more of those cateogies far to the bad, my recollection is many make the Current the worst in Unemployment and Inflation at least. And what goods a low 30-yr mortgage rate if your house keeps falling in value?
Comment by Sheldon Richman on 10 February 2009:
Granted the problems with numbers per se, the question is whether the standard for arriving at them has been consistence since WWII. I don’t know the answer. I posted this for thought and perhaps discussion. This is for comparison with past recessions. Reynolds is not saying it’s not bad, only that it’s not as bad as earlier ones. That could be true. Politicians, would-be court economists, and the media have an incentive to overstate the severity for all the obvious reasons.