Tuesday, July 10, 2012

This Graph Says an Awful Lot About the So-Called ‘Recovery’ 



Lately, we’ve been hearing a lot about “the recovery” and lot of arguing over who’s to blame for its supposed slowdown. But before we got too bogged down in who’s responsible for retarding economic growth, maybe we should first look at the data.

Without one word of explanation, Harvard University econ professor Greg Mankiw posted the following graph to his blog:

This Graph Says an Awful Lot About the So Called Recovery 
Source: Bureau of Labor Statistics

As you can see, the shaded area indicates the recession and everything to the right of that is the so-called “recovery.”


So, was this what the White House meant when it said we’re moving in the right direction or should we just not read too much into the data?

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