http://pragcap.com/chart-of-the-day-no-your-average-recession Sat, 20 Mar 2010 04:52:05 +0000 http://wordpress.org/?v=2.9.2 hourly 1 http://pragcap.com/chart-of-the-day-no-your-average-recession#comment-6666 jt26 Sat, 03 Oct 2009 23:25:06 +0000 http://pragcap.com/?p=10119#comment-6666 Although, the official rate is not an all-time high (I recall was 10.5-11%; in 80's). That's also despite an immigration boom because our booming economy needed so many low-quality service workers (PS I don't mean the people themselves, but instead job quality ... min. wage, no heatlh benefits, variable hours), which in retrospect was only needed for a false boom. If you look at other countries which have been heavily US-export-oriented and are really at the whipsaw tale of slow/declining global growth ... Japan, Korea, Taiwan ... rates our ~5-6% (Taiwan just recently hit the high of the last recession). I.e. this graph is good for scaring you into buying 20-year Treasuries, but no one is buying (literally), esp. the Chinese. Although, the official rate is not an all-time high (I recall was 10.5-11%; in 80’s). That’s also despite an immigration boom because our booming economy needed so many low-quality service workers (PS I don’t mean the people themselves, but instead job quality … min. wage, no heatlh benefits, variable hours), which in retrospect was only needed for a false boom. If you look at other countries which have been heavily US-export-oriented and are really at the whipsaw tale of slow/declining global growth … Japan, Korea, Taiwan … rates our ~5-6% (Taiwan just recently hit the high of the last recession). I.e. this graph is good for scaring you into buying 20-year Treasuries, but no one is buying (literally), esp. the Chinese.

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