SETTLE DOWNDespite what you may be hearing, did you know that economists say we AREN'T in a recession? They point out that a recession is two consecutive quarters of negative growth. But the fact is, they say, we haven’t even had one single quarter of negative growth reported. The economy slowed down significantly during the end of last year, but that was after some big growth in the third quarter.
... The average unemployment rate during President Clinton was 5.2 percent. The current unemployment rate is 4.8 percent.
... The average inflation rate under Clinton was 2.6 percent, under Bush it is 2.7 percent.
... While the inflation rate over the last year has gone up to 4 percent, it's still lower than the average inflation rate under all the presidents from Nixon through Bush’s father.
... Gas prices are up 33 percent over the last year, but to get an average of 4 percent inflation means that lots of other prices have stayed the same or gone down.
... Housing has obviously been a big drag on the economy, but many other sectors of the economy, such as exports, have been doing well, some extremely well.
So who's to blame for the panic? Two groups: the presidential candidates and the media.
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2 comments:
Remain calm! The Poseidon is not sinking!
Working in the financial sector I can only say one thing - let's all hope Brian is right, because I'm getting kind of tired hearing from people from all over the country who are in big time financial trouble because they've been laid off, or are losing their homes - and feel the need to cash in their life savings.
So close your eyes and relax, that's not really freezing cold water coming up over your head folks - it will all be over soon.
If JP were on the Poseidon, I imagine he would be crying like a baby yelling about how the Government should have never allowed the ship to be certified. Then, if he was rescued, he'd accept the Government issued survivor Visa card and check into the temporary Government housing.
Brian would check into the Hilton
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