From the US, three pictures worth three-thousand words, about 8.4 million jobs:
Just something else that those promoting further stimulunacy should think about.
This is what economists like Frederic Bastiat and Henry Hazlitt meant when they said that,
The art of economics consists in looking not merely at the immediate but at the longer effects of any act or policy; it consists in tracing the consequences of that policy not merely for one group but for all groups.
Notes the Casey Report,
Hardly needs further commentary, does it. For more words, however, about why the jobs have disappeared, head to the blog The Economic Collapse.
And if you want to be reminded how Australia’s Stimulus Destroyed 77,000 Manufacturing Jobs …
1 comment:
Peter Ferrara wrote recently in American Spectator that past U.S. recessions have lasted 16 months, at most.
After the Depression, we are now 30 months into one more severe than all perhaps the one in 1981-82, with no end in sight.
That alone would give any well-meaning person in authority pause. But Progressives simply can not let reality get in the way of their philosophy. The stakes for them are too high.
They know this is their last hurrah at trying "the third way," eating the capitalist cake and having the socialist welfare state, too.
After this, it's freedom or dictatorship and probably within a generation.
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