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Thursday, February 12, 2009

Compare Current Job Losses to Last Two Recessions... and Get Nervous

In the midst of homework, Googly semi-randomness leads me to Anne in New Jersey, who blogs this graph of job losses thus far in this recession compared to the 2001 and 1990 retractions.I need neither my compass nor my calculus to derive this conclusion: holy crap!

That green arrow also indicates the really steep point where Bush handed the wheel to Obama and said, "By the way, I think the brakes are shot."

The only thing we have to fear is fear itself... but fear is looking pretty darn scary. Save me a job in that stimulus package!


  1. At least half the people I know refuse to look at their stock reports. When dividend reinvestments took place at high values it can make your yield look worse than it really is, but the cascade effect is far from over. The market is not gonna bounce back like it did last time.

  2. Don't listen to ANY of the news.

    Enjoy life TODAY.

    Party on Garth!

  3. Be EXCELLENT to each other...



  4. Exactly. That is why it is so critical to make huge structural improvements in reducing state government cost and increase its efficiency NOW. However as Mitch Fargen duly noted, the governor lacks the will to lead (other than lead raising taxes-which he refuses to put his name behind). The governor gives all the appearance of wanting to act like Ralph Kramden, waving from the drivers seat of the bus as it cartwheels over the cliff.

    We must identify and make significant changes in the way the state does business, delivers services, is organized, delivers worker benefits - all in order to establish long term cost savings and improve government efficiency. Tinkering with budget cuts to the arts & infants won't set the state up for future success.

  5. This is the worst financial crisis in more than a century. At least a few politicians are beginning to admit what the economic bloggers have written about for months. http://www.independent.co.uk/news/uk/politics/this-is-the-worst-recession-for-over-100-years-1605367.html .

    EU banks estimate they may require a $16.3 trillion dollar bailout. http://globaleconomicanalysis.blogspot.com/2009/02/worst-recession-in-100-years.html . It would be the height of folly in this global economy and inter-connected world to ASSuME that somehow the US banks or economy would be immune from that level of impact.

  6. Typo alert: in the previous the amount estimated to bailout the EU banks was $16.3 trillion pounds - that equates to about $24 trillion US dollars.
    My apology.

  7. The US's intelligence chief testified today that the greatest threat to the US is the collapsing world economy - not Afghanistan, Al Qaida, Taliban, Iran, Iraq, or any of the usual suspects. http://www.msnbc.msn.com/id/29169224/ . Will someone please tell our governor.

  8. If we get "desensed" by the panic-mongering about the economy, we can always worry about dark comets.

  9. Nice comet strike could put a lot of people to work rebuilding! Or heck, let's put people to work building satellites to detect those comets and asteroids and rockets to blow them up... or to serve as lifeboats!


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