Something I forgot to word into yesterday’s post:
I have heard an economist say, off the record, that …
During periods of normal economic growth, multiply the government’s officially announced unemployment figure by 1.5 to get some idea of the actual percentage of people out of work.
During a recession, multiply their number by 2.
It’s a good rule of thumb when listening to the news and commentary.
Remember, no matter who is in power, the main goal is not to serve you or help you. The main goal is to remain in power. And for the party out of power, the main goal is to get back into power. You (really, just your vote) are only a means to that goal. So are statistics.
This is the end of my public service announcement. You may now resume your normal Internet surfing.
Exactly!!! I made this exact point to my oldest sister during cash for clunkers. Ironic how cash for clunkers ended at the end of Q3 and, guess what? The economy grew by 3.5% in Q3 powered in large part by cash for clunkers. this was announced when? right. a week before election day. Watch for government stimuli to be passed in early 2010 so that the sugar high hits during mid year just in time for an October/November announcement of an economic upturn.
ReplyDeleteNow also remember, the health care bill calls for collection of revenue years in advance of the distribution of health care benefits. Do we think that money will be collected and saved for health care? or will it be used to artificially jump start the economy? I think we know the answer.
Politicians enact legislation to perpetuate their tenure in office, not to enhance the public good. Period. End of story.
As always,
Uncle
Wow, I just reread my response to your post. I'm either cynical or insightful. You decide.
ReplyDeleteUncle
Sounds like informed skepticism to me.
ReplyDelete