Eugene Coyle wrote: > Looks as if the US economy is dipping again. Is this a double, triple, or > what? > We're beyond a W shaped "recovery". What's after W?
It depends. We had a GDP dip in 2001, and another, significantly bigger one, in 2008-09. With the VERY mild recovery after 2009, we might say we had a "W." If you separate those two dips because they were so far apart in time, then the latter one is more like a "U." But that's just looking at bourgeois measures of prosperity such as real GDP. In terms of measures of the state of the working-class (such as the employment-population ratio), the recent downturn looks much more like an "L." If we're having a second dip in the recent GDP cycle (as it seems from the housing market), then workers are facing something more like a downward escalator. Of course, Dr. Seuss pointed to other letters which might describe business fluctuations. Was his doctorate in economics? -- Jim Devine / "Patriotism is the conviction that your country is superior to all others because you were born in it." -- George Bernard Shaw _______________________________________________ pen-l mailing list [email protected] https://lists.csuchico.edu/mailman/listinfo/pen-l
