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Business cycle factors under Presidents - Truman through W.
Double fun => eye candy for both economics nerds AND interactive-chart lovers:
http://www.nytimes.com/interactive/2008/10/18/business/20081019-metrics-graphic.html
Some of my reactions:
- The decline in personal savings. From 1950-1989, it hovered between 7 - 10%; fell off a cliff after that.
- Growing inequality of income. I think that speaks for itself... For those of you who want to call me a Socialist: you may bite me.
- Federal budget BALLOONS under small gov't fiscal conservatives. Hmmmm...
There is truly much to learn from this.
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That personal savings chart is frightening.
I thought the wages chart was interesting as well.
I'd rather return to the 80s than the 70s. Yeah, I know there was economic and political turmoil in both decades, but I have better memories of the 80s.
It's funny how I was thinking the other day -- you know how families migrated in search of better circumstances in Great Depression? Well, my family was kinda like that during the 70s and early- to mid-80s.
And I was born in 1970.
Personally, I'd actually like to go back to the mid- to late-nineties.
The whole problem with the world is that fools and fanatics are always so certain of themselves, & wiser people so full of doubts.
-- Bertrand Russel
Well, Clinton is the only president in the last 40 years who has managed to balance the budget.
Unless, we control defence spending we'll never manage a budget. But touching that is political suicide, especially after 9/11.