“Seems you don’t recall what Reagan inherited–it definitely was in worse shape.”
Debatable. The economy wasn’t good, but at least it was stable. Something you definitely couldn’t say about late 2008-early 2009. Mind you, around 1982-83 things definitely weren’t looking good either.
Church, with all due respect to whoever came up with the concept of “the misery index”, it tends to focus only on one side of the inflation picture. For example, it tends to obscure the fact Obama inherited a near deflation, which most people recognize is NOT a good thing. Can you honestly say 3% unemployment and 5% inflation is the same as 8% unemployment and stagnating prices?
Inflation means little when decoupled from the increases in GDP and wages.
“Seems you don’t recall what Reagan inherited–it definitely was in worse shape.”
Debatable. The economy wasn’t good, but at least it was stable. Something you definitely couldn’t say about late 2008-early 2009. Mind you, around 1982-83 things definitely weren’t looking good either.
Church, with all due respect to whoever came up with the concept of “the misery index”, it tends to focus only on one side of the inflation picture. For example, it tends to obscure the fact Obama inherited a near deflation, which most people recognize is NOT a good thing. Can you honestly say 3% unemployment and 5% inflation is the same as 8% unemployment and stagnating prices?
Inflation means little when decoupled from the increases in GDP and wages.