US unemployment rate decreases from 6.3% to 6.1% in July 2014

[King]

Historically, in comparison to the Great Depression, we didn't recover until the 50s. That's a really long time.

So, why are your expectations for this recovery so much higher?

[King]

Historically, in comparison to the Great Depression, we didn't recover until the 50s. That's a really long time.

So, why are your expectations for this recovery so much higher?

My expectations are not higher. However, considering I live in this era and not in the 30s, along with the fact that this crisis is a lot more important, I would hope for the economy to recover quicker even thought I know it will not...

What makes this crisis more important?

[King]

Historically, in comparison to the Great Depression, we didn't recover until the 50s. That's a really long time.

So, why are your expectations for this recovery so much higher?

My expectations are not higher. However, considering I live in this era and not in the 30s, along with the fact that this crisis is a lot more important, I would hope for the economy to recover quicker even thought I know it will not...

What makes this crisis more important?

What was our debt back then in comparison to now? The deficit too? Inflation as well? Not only that, no president during that era has spent so much as the current administration or the previous.

Our debt as a % of GDP was as much as 300% in the 1930s and 1940s to pay for the war, inflation was much worse with several doubt digit 10-18% spike years due to incompetent/inexperienced Fed decision making (as opposed today where inflation is a steady 1-3%), FDR could also take home the title of "most spending by a President in US history" in the context of his present time since the New Deal was the largest federal government expansion in history.

So no, we are actually better off in those parameters today than back then.

[King]

Asset prices.

What assets exactly? Land values have not recovered to 2007 levels yet.

Only visible inflation anywhere since 2008 has been in meats, caused by drought-induced scarcity, and gasoline, caused by a spike in demand. There has been no evidence of currency inflation.

But the fact that you're now focusing on inflation and dropped the points on debt and government spending says a lot. You're talking out your arse. We're not worse off than in 1935, six years into the GD. The fact that we have such a great social net already in place has left us quite well off given the circumstances.

[King]

Your data shows little to no upward movement in the inflation rate. Try again.

I was gonna say... looks fine to me



And I'm tempted to call BS on ShadowStats magic inflation numbers. As a human who lived through 2009, where was inflation at 5%? I remember prices crashing down on everything from gas to food to stocks I owned.

That's anecdotal, but still. Any adjustment that says the sky was really green is hard to take seriously.

[King]

Your data shows little to no upward movement in the inflation rate. Try again.

Weren't you on the side of the people that said inflation was at 1-3%???


I could easily show the rise in prices if you would like

I'd like to see them.

Because, keep in mind, you don't have to just prove 5% inflation on certain markets in 2009. You actually have to prove inflation in certain markets so high that it actually cancelled out the collapse in home values, fuel prices, food prices, any consumer good related to demand, etc. in 2009 and left us with a 5% inflation rate overall.

Simply ridiculous. 5% in 2009... L. O. L.

[King]

Inflation does not exist currently in the US. Pumping money into the economy does not necessarily result in higher prices.

Lol

How does inflation lead to higher prices if all the newly minted money goes into Mitt Romney's mattress.

It doesn't, but the problem is that that money comes out of his mattress eventually.

But not all at once.

[King]

You must be logged in to read this quote.

Everything there is fluid in price (you'd get wildly different %s simply by switching the months in 2000 and 2014 being compared) or a luxury good like a new car.

More importantly, you are trying to prove inflation in the currency which a spike in oil and food from month to month does not indicate.

[King]

http://www.washingtonpost.com/blogs/wonkblog/wp/2014/07/17/the-intellectual-cesspool-of-the-inflation-truthers/

Good read. I forgot about the Real GDP aspect. For secret inflation to be real, our economy would be in it's 26th consecutive year of 4+% shrinkage. We'd be living in post-apocalyptic times.

Instead we have the internet and smartphones.

[King]

Only problem with your theory is that you're wrong.