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Wednesday, June 15, 2011

Stop Whining - Look At Some Facts

Obama is destroying the economy. George W. Bush destroyed the economy. Republicans will ruin the country. Democrats ruined the country. "A wealthy American predicts that failure of the US economy in 2011." "Buy gold now to protect your family."

Sometimes numbers work better than words so all I'm going to do today is post some statistics so you can draw your own conclusions:

Year - Unemployment Rate - Inflation Rate                               
1977 - 7.7%                         5.15%           President Carter
1978 - 7.1%                         6.50%
1979 - 6.1%                         7.62%
1980 - 5.8%                         11.22%                                       
1981 - 7.1%                         13.58%         President Reagan
1982 - 7.6%                         10.35%
1983 - 9.7%                         6.16%
1984 - 9.6%                         3.22%
1985 - 7.5%                         4.30%
1986 - 7.2%                         3.55%
1987 - 7.0%                         3.66%
1988 - 6.2%                         4.08%                                         
1989 - 5.5%                         4.83%            President Bush
1990 - 5.3%                         5.39%
1991 - 5.6%                         4.25%
1992 - 6.8%                         3.03%                                        
1993 - 7.5%                         2.96%            President Clinton
1994 - 6.9%                         2.61%
1995 - 6.1%                         2.81%
1996 - 5.6%                         2.93%
1997 - 5.4%                         2.34%
1998 - 4.9%                         1.55%
1999 - 4.5%                         2.19%
2000 - 3.97%                       3.38%                                        
2001 - 4.76%                       2.83%             President Bush
2002 - 5.78%                       1.59%
2003 - 5.99%                       2.27%
2004 - 5.53%                       2.68%
2005 - 5.08%                       3.39%
2006 - 4.63%                       3.24%
2007 - 4.6%                         2.85%
2008 - 5.76%                       3.85%                                        
2009 - 9.26%                       -0.34% (deflation)
2010 - 9.64%                       1.64%

  • There were only four years where unemployment was over 9.0% - '83 & '84 under President Reagan and '09 & '10 under President Obama
Things are bad, but they're sort of about average for bad times. Do we need to get some adults in charge who can fix the unprecedented problems facing us of debt and entitlement expenditures? Absolutely. Do we need to move to Canada because America's best days are behind us? Nope.

We just all need to start thinking and stop reacting to every little bit of political propaganda that gets thrown our way. Things are cyclical and self-correcting (in either direction) and no amount of government manipulation is going to fix that.

Data compiled from various US government websites and the following: inflationdata.com , miseryindex.us , research.stlouisfed.org

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