"The welfare of humanity is always the alibi of tyrants" - Albert Camus

Monday, September 27, 2010

A Tale of Two Recessions

The 1981-1982 Volcker recession, named after the Fed Chairman who triggered it to save us from crushing inflation, was generally regarded as the most severe recession since the Great Deppression of the 1930s. It held that dubious honor until the recession of 2007-2009.

NBER says we have been in recovery since 2009. expect a far-slower-than-normal recovery, thanks in large part to the actions the then-new administration and its allies in Congress were taking or planned to take.  Afterall, the smothering hand of government — including massive spending, thousands of new rules, government takeover of key industries, higher taxes on energy, capital and incomes, and up to $4 trillion in added deficits by 2012 — will be felt everywhere.

Here is a comparison of the two infamous recessions.  At this rate, we will never make up the jobs lost since the beginning of the recession - that is until the American public wakes up and kicks enough of these socialists out of power.

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