As we noted yesterday, the economy is a mess. It is over four years since the wonderful economists from the West predicted great things. Have not noticed many of them. But let us go through the numbers.
As usual we start with the Romer Curve. I can't avoid going back to this one. It is important to note that she not only had unemployment at 5% by now but the employment base was to be greater than what it was originally. If it had happened we would most likely have little if any deficit. How far can you be wrong.
Looking at the above month after month can those people have no shame.
The Romer errors are above. Not a splendid job one could say.
The above is the truly troublesome chart. The gap of some 12 million people to possibly 15 million who are forever out of the workforce is horrible and never spoken of. We have been pointing at this for years!
The above is the announced and actual unemployment. We are still near 12% and flat. There is no movement to change this at all. I guess we must just wait and pray!
Posts
