Biz

Spot The “Recovery”

IF  YOU CAN …  Remember that article our founding editor wrote awhile back about people starting to “get it?” In case you missed it, CLICK HERE. Well here’s another item to file under “public awareness …” There have been eleven economic recessions since the end of World War II.  For…

IF  YOU CAN … 

Remember that article our founding editor wrote awhile back about people starting to “get it?” In case you missed it, CLICK HERE.

Well here’s another item to file under “public awareness …”

There have been eleven economic recessions since the end of World War II.  For those of you keeping score at home, they occurred in 1949 (Truman), 1953 (Eisenhower), 1958 (Eisenhower), 1960-61 (Eisenhower/ Kennedy), 1969-70 (Nixon), 1973-75 (Nixon/ Ford), 1980 (Carter), 1981-82 (Reagan), 1990-91 (Bush I), 2000-01 (Clinton/ Bush II) and 2007-09 (Bush II/ Obama).

Or as we like to call it, 2007-present.

A recession is defined as a period of prolonged economic decline – one typically lasting more than a few months. The general consensus is that recessions become official after two consecutive periods of gross domestic product (GPD) contraction, although the group that officially declares recessions “in effect” – the National Bureau of Economic Research (NBER) – relies on monthly data for its calculations.

Now … who declares “recoveries?” Which by the way are a lot less easily defined than recessions?

Yeah … politicians do that. In fact they’ve been doing it for the last four years (all economic evidence to the contrary).

Anyway. For those of you still struggling during the current “recovery” – which is most of you – there’s a chart we’d like to commend to your attention …

(Click to enlarge)

wage growth bbg

(Chart: Bloomberg)

Based on data from the U.S. Bureau of Labor Statistics (BLS), those blue bars represent the growth in inflation-adjusted income in the sixty months after the end of a recession (a.k.a. the start of the recovery).

See the little tiny blue “bar” next to “2009?”  You know … the one that looks like a Smurf chode?

Yeah … that’s the current “recovery.”  Which is the worst ever … by a country mile.

We all know it.  Hell, we’ve all been living it.  It’s visible in our paychecks, our savings (to the extent we still have them), the value of the things we own … it’s everywhere.  And it’s only a matter of time before we figure out what causes it.

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54 comments

Can't make money? Make babies August 19, 2014 at 8:39 pm

So where’s Smurfette so I can do something with this Smurf chode?

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shifty henry August 19, 2014 at 9:37 pm

But – how do Smurfs make babies?

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Can't make money? Make babies August 19, 2014 at 10:13 pm Reply
shifty henry August 20, 2014 at 5:50 am

That’s wild! — actually, they “Smuck”

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Sandi Morals August 19, 2014 at 9:19 pm

No. 8: South Carolina

In recent months, South Carolina has begun booming its way out from the shadow of the Great Recession. Here’s how the Palmetto State is doing based on our metrics:

South Carolina had the largest drop in its unemployment rate among the states, going from 7.8 percent in June 2013 to only 5.3 percent in June 2014 — a drop that puts South Carolina’s rate under the national average.

Accordingly, South Carolina also had strong payroll jobs growth, adding 42,500 jobs between June 2013 and June 2014, a 2.2 percent increase.

South Carolina’s auto sales have also grown, with a 9.7 percent uptick in per-dealer sales from 2012 to 2013.

Business Insider. Move to South Carolina if you want a job. Great job Nikki!!!

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Bible Thumper August 19, 2014 at 9:44 pm

All true but the July data wasn’t good. Unemployment up to 5.7%.

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Sandi Morals August 19, 2014 at 10:14 pm

Still puts SC below the national average. Unemployment was up in US as well. My guess those paid vendors for Ervin and T-Rav lost their jobs after collecting 30,000 signatures. :-)

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Bible Thumper August 19, 2014 at 10:21 pm

Business is frighten by Obamacare. Indiviual and employer mandates won’t be delayed again. They won’t hire or invest. Employees afraid to change jobs or ask for raises.

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Sandi's Boss August 19, 2014 at 10:42 pm

You too can make $4700/month!

Call 1-800-Sik-Cash now!

Bible Thumper August 19, 2014 at 10:45 pm

Ervin pays more. Ask Will Folks.

Sandi Morals August 19, 2014 at 11:23 pm

Lol…I don’t work for Haley , make more than $4700 a month and thank God my wife is not a lesbian bitch.

Rocky at Pedros August 20, 2014 at 9:10 am

But how many legal american residents are you putting out of work by being here.

Smirks August 20, 2014 at 9:53 am

make more than $4700 a month

Haley pays well.

euwe max August 20, 2014 at 11:55 am

thank God my wife is not a lesbian bitch.

—–
both, or neither?

euwe max August 19, 2014 at 9:45 pm

If only God were a libertarian.

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Bible Thumper August 19, 2014 at 9:56 pm

It wouldn’t matter. God can’t vote or run for office. Even if he could, he couldn’t get elected.

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euwe max August 20, 2014 at 12:06 am

He doesn’t have to vote or run… all He has to do is make libertarianism work – make it REAL – you know, like professional wrestling.

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Bible Thumper August 20, 2014 at 12:21 am

As long as we all have life, liberty and are pursuing our own happiness, nobody is going to pay God any attention.

God wants us to do right, but hates to interfere if we resist. He can use persuasion, but just like the people at fits and its visitors, we already know everything.

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Smirks August 20, 2014 at 9:49 am

God wants us to do right, but hates to interfere if we resist.

Except for, you know, most of the Old Testament.

God could go on a reality show to reach a wider audience. They probably wouldn’t have him, unless he agree to all kinds of salacious scenes where they try to temp him.

Nah, instead he can just agree to have all kinds of salacious scenes with his most devout follower(s) where they can tempt them. You know, like with Job.

Tom August 20, 2014 at 10:46 am

I disagree with both you and Smirks. I believe there is a place for God in the modern age. The problem is not with God, but with the modern American Conservative mindset, which is dominated by the theories of Ayn Rand, an atheist; whose theories are wholly inconsistent with the teachings of Christ.

To quote Galbraith, ” The modern conservative is engaged in one of man’s oldest exercises in moral philosophy: that is the search for a superior justification for selfishness.”

Modern American Conservatives are overwhelmingly Christian, but their governmental and economic philosophies are, in my opinion, largely inconsistent with the teachings of Christ. This conflict forces them to come up with theories and justifications for their philosophy that is rooted in the bible; but none of them really fit very well with what Christ actually said. As a result they come up with competing theories. These theories range from prosperity theology, i.e. the theory that god rewards good people here on earth with wealth and power; all the way to god wants us to act individually not as a group. Thus we should leave to private charity those things conservatives do not wish to help pay for and trust them that they will help pay for them if they can do so voluntarily. Sort of a weird theory that if we act as a group we deprive the individual of the opportunity to please or displease god; thereby thwarting gods plan to weed out the good from the bad.

In a way our current system is a relief for the latter group. They can complain, without being forced to explain how they can live in a big house, drive a nice car, take their kids to the beach house, disney world, etc, etc. while people all over the world are starving and dying of disease. The two sections of the bible most ignored by the American Conservative are Matthew 19:21 and Matthew 25: 36-40. They just don’t know how to effectively address those statements by Christ in a way that jives with accumulating as much earthly treasure as possible.

Heathen August 20, 2014 at 12:32 am

Hell, I’d just be happy if He definitively proved himself real.

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Bible Thumper August 20, 2014 at 12:39 am

If God did that, people would just blame him for everthing. God, why don’t you fix the problems in Ferguson? Those ISIL dudes are bad and you do nothing about it. Does trickle down economics work? Can you fix Obamacare for us?

Smirks August 20, 2014 at 9:45 am

Everyone thanks Jeebus for getting a raise, but never for the guy two doors down getting shitcanned and losing their house. Everyone thanks God for having their cancer cured, but never for giving them cancer in the first place. People thank Him for Winston Churchill but not for Adolf Hitler.

If you ask me, religion blinds the believers to the fact that there is indeed another side to the coin. On the rare occasion a believer gets a glimpse of the other side, it’s dismissed by whatever religious doctrine or authority figure. “The Lord works in mysterious ways.” “He’s just testing you.” “It’s all a part of His grand design.” “Perhaps you are being punished for something and need to repent.”

To quote Epicurius:

Is God willing to prevent evil, but not able?
Then he is not omnipotent.

Is he able, but not willing?
Then he is malevolent.

Is he both able and willing?
Then whence cometh evil?

Is he neither able nor willing?
Then why call him God?

euwe max August 20, 2014 at 11:55 am

Everyone thanks Jeebus for getting a raise, but never for the guy two doors down getting shitcanned and losing their house.

——
You haven’t been keeping up – they’ve started thanking Jeebus for calamity and hardship.

euwe max August 20, 2014 at 1:52 am

I feel the same way about libertarianism.

Heathen August 20, 2014 at 9:37 am

Seriously, it’s good to know that you’re open minded.

euwe max August 20, 2014 at 10:30 am

You too.

euwe max August 20, 2014 at 12:31 pm

Hell, I’d just be happy if He definitively proved himself real.

——
What proof did you accept when you decided that real is real?

Heathen August 20, 2014 at 3:38 pm

By personal experience of course. That being said, we could all be electrons in a universe sized chip I suppose, so there’s that.

euwe max August 20, 2014 at 3:40 pm

By personal experience of course.

——-
show me.

Heathen August 20, 2014 at 3:46 pm

Can’t, it’s MY experience.

:)

euwe max August 20, 2014 at 3:56 pm

Just as I thought! All hat and no prattle!

Heathen August 20, 2014 at 4:02 pm

lol, really? It’s bit high of a demand, oh well, it’s YOUR experience so I can’t judge.

euwe max August 20, 2014 at 4:12 pm

I can write a compelling argument that identifies reality with god. Can you?

Heathen August 20, 2014 at 6:58 pm

Of course not, I’m not a believer.

euwe max August 21, 2014 at 12:32 am

Why should writing a compelling argument identifying reality with god be predicated on being a believer?

Are your horizons so near, and your imagination so narrow, you can’t conceive of the consciousness of man embedded within the fabric of the universe as an observer, isn’t an awareness springing from the primordial ooze as a life form, somehow existing in a dimension in which thought is a process instead of a thing… creating time… a transcendental mirror reflecting the very substance of consciousness itself?

Smirks August 20, 2014 at 8:56 am

all He has to do is make libertarianism work

For who?

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euwe max August 20, 2014 at 11:54 am

Anyone.

Smirks August 20, 2014 at 8:55 am

God can’t vote or run for office.

That’s why he tells people to run for him, so they can act as his medium. Sometimes he tells multiple people to run for the same race… err… well… God works in mysterious ways.

The God of Second Chances™ also tells people to run. Mark Sanford, Anthony Weiner, and now Thomas Ravenel.

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GrandTango August 20, 2014 at 6:11 am

Too bad y’all’s “founding editor” did not ‘GET IT’ until after Nov. 2012. Because of that, he led most of the fools on here to think they’d have free healthcare, a government job building cars or solar panels…and we’d be feasting on the dime of Big Oil, while sharing the re-distributed wealth of greedy doctors and insurance barons.

Funny it didn’t work out like FITS and Obama promised. Romney may not be a social Conservative, but he knows how to make an economy work. That cancer patient yall said Romney killed died at the VA, or was sentenced by Obama’s Death Panel.

You starve, while Rick Perry and Texas proved how A$$-Backward Democrats are, compared to doing it prosperously RIGHT…

When you listen to idiots and liars…we ALL lose.

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Smirks August 20, 2014 at 9:55 am

most of the fools on here to think they’d have free healthcare

Well, you do, being on Medicaid and all, right?

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GrandTango August 20, 2014 at 10:20 am

Hitler told you: Make the lie big and make it simple. Say it over and over, and they’ll believe it. You and Obama, are proof that is true…at least for dumbest (democrat-voting) MoFos.

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Sandi Morals August 20, 2014 at 11:00 am

LMAO!!! Smirks got caught posting as “Limbaughsackhunt” (his name appeared on his post before it was changed) Saturday night and ain’t been the same since.
Even worse than when Will Folks called him a “socialist” on the blog and Smirks threatened to organize a boycott cause his feelings were hurt.

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GrandTango August 20, 2014 at 11:47 am

I notice a few of them change identities, after embarrassing themselves. And they say in their username part of the insult that is the whole of their commentary. They are as un-original as they are dishonest.

Thanks to Obama’s failure, they have nothing but hate – so they get caught creeping in an attempt to compensate for their vast deficiencies. Liberalism always fails, but it takes a while, unfortunately. But its disciples get kooky when it does.

John Boy August 20, 2014 at 12:46 pm

I notice a few of them change identities, after embarrassing themselves. And they say in their username part of the insult that is the whole of their commentary. They are as un-original as they are dishonest.

How’s it hangin’ Emily, BigT, Tango…?

GrandTango August 20, 2014 at 2:11 pm

Typicali liberal ignorance. The ONLY time I’ve ever changed names is if a liberal steals the one I originated

Unsolicited Advisor August 20, 2014 at 8:56 am

If you wanted to compare similar economic periods you would have included the period framed by the Great Depression. However, we all know when you have an agenda to promote comparisons that don’t fit the message must not be allowed.

After the blow-off in the stock market that culminated in the Crash of 1929 the economy performed in fits and starts until the impetus of our involvement in WWII finally moved the needle out of the Depression. Multiple upticks in the economy fizzled out in the 30’s. The recovery was long and slow.

It’s also interesting to note that the recession of 1949 was an all too predictable consequence of the slowdown in demand and output that followed the conclusion of the War and included a delayed adjustment to the jobs workplace that had been redesigned because of the demands for able bodies (replacing mostly men of working age) in the War effort.

The current economy is, like that of the 30’s, one of fundamental restructuring. It is driven by a secular change in the economy, not simply a cyclical change.

Economics aren’t your strong suit, FITS. Most people stay away from their weaknesses and play to their strengths. There’s a lesson to be learned there.

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I like Strange August 20, 2014 at 11:15 am

You know what’s odd, I can’t actually find where your comments seem to disagree with Sic’s. Could you explain? Is there a link you were planning on posting that framed the period before 49?

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Unsolicited Advisor August 20, 2014 at 11:31 am

Here’s what’s odd. Every example of a recession noted by FITS in his graph represents a typical Cyclical recession, not a Secular restructuring of an economy.

No, I didn’t plan to link any study. Most people with any economic bent understands the origin and the progressession of the Great Depression.

I made it abundantly clear in my remarks that one should compare apples to apples, not apples to oranges. Anyone with an elementary understanding of economics knows this downturn and subsequent slow recovery is more like that of the Great Depression than that of a cyclical downturn like those cited. The science of Economics isn’t exact but it does include studies much older than post WWII.

And by the way, in answer to his question about who declares recoveries….private sector and public sector economists declare them. They are paid to do so by banks, businesses, governments, Wall Street financiers and many others. Politicians aren’t the only ones who declare them, nor the only ones to benefit from them. They aren’t the only ones who use economic data to promote propaganda either, whether for good and bad.

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Carnac the Magnificent August 20, 2014 at 3:36 pm

“No, I didn’t plan to link any study. Most people with any economic bent understands the origin and the progressession of the Great Depression.”

With all due respect to your pomposity, a chart or study to back up your claim would be helpful.

Otherwise, all your bluster might seem, well, like bluster.

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Unsolicited Advisor August 20, 2014 at 6:03 pm

Of course you mean like FITS’ bluster and his bullshit economic articles most of which are from Zero Hedge pieces including the one above.

The tone, the message and even some of the direct verbage was in Durden’s rant today. If I’m gonna lift someone else’s work I’d at least lift from someone not batshit crazy. Actually, I’d give attribution to the writer instead of paraphrasing and posting the thoughts as my own.

Carnac the Magnificent August 20, 2014 at 6:57 pm

Fair enough, but you still haven’t proven your supposed point, making you no better than him.

America Being Sucked Dry August 20, 2014 at 11:06 am

America is lost. Its been sold out. Get use to it. Government is so corrupt, it will take a total overthrow to restore honesty.

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Quietly slipping away August 20, 2014 at 12:13 pm

35.7 % of Americans are on need-measured welfare. This doesn’t include Social Security, Medicare, etc. Just flat out free shit.
That model doesn’t bode well for a future where technology is eliminating jobs by the hundreds of thousands, immigration is amping up competition for existing jobs and imports continue to erode jobs in mfg.

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