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Discussion: (4 comments)

  1. mesa econoguy

    The correct unemployment measure to use now is U-6, which currently stands at 14.3% (14.6% unadjusted).

    This counts un- and underemployed.

    Obamascare is the driving force behind this horrible number. I will not assign blame to Barry for the policies of his predecessor, but he certainly gets full “credit” for this horrendous recovery, which his signature legislation destroying jobs and continuing our weak recovery (recovery summer #4! This time we MEAN it!!!!!!).

    I’m astonished that the economy has done this well this long.

    1. Jeremy Manista

      I don’t believe that the economy really has performed that well, we have just been able to inflate it artificially thru printing of money and other policies, which could be creating a whole new bubble in my opinion.

  2. Benjamin Cole

    Obama has not helped.

    But the real villain is the reckless and cavalier disregard the Fed has had for American workers and businesses. The Fed pays slavish homage to and pompously pettifogs about “fighting inflation,” while we have microscopic rates of inflation and extended weak economic growth.

    The Fed is cloistered, insular, opaque, not accountable and zealously genuflecting to its own exalted mission statements. we get sanctimonious sermonettes instead of aggressive stimulus.

    Sadly the right wing is wrong on the Fed–the Fed is not expansive, the Fed has had a monetary noose around the neck of the American economy since 2008.

    The Fed caused the recession by tightening in 2008 to “battle inflation” and then never acted aggressively enough to bring the economy full upright. In the meantime, we drifted dangerously close to deflation and ZLB.

    Recoveries do not last forever. We now face the prospect of hitting the next recession with inflation already under 1 percent and interest rates flat as a board.

    That is called Japanland.

    1. mesa econoguy

      So you think the problem is interest rates, i.e. the price of money, which the Fed has severely distorted.

      Why do you incorrectly assert that the “right wing” started ZIRP?

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