Sunday, January 31, 2010

Unemployment Rising Faster Than Any Post War Recession

I have posted all sorts of charts like this in the past, showing the severe increase in unemployment from this recession compared to previous recessions. Job loss is one thing. Job creation is another. My argument is that the uncertainty caused by the Obama administration--on tax rates, on cap and trade, on health care costs, on trade, on estate taxes, etc--is causing real job creators (businesses) to go on strike. Obama is creating the same "Regime Risk" that FDR did in the late 1930s, which caused a second leg down during the Depression.

Chart 1: Unemployment Rate Rising Faster than in Any Post-World War II Recession

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