IS THIS REALLY THE WORST ECONOMY IN THE LAST MILLION YEARS?
For the past year all I have heard from all the experts is how this is the worst economy since George Washington. So the research staff here at “The Art of It” did some digging. Back during the President Jimmy Carter's administration of the late seventies, the media came up with the misery index (inflation rate + unemployment rate) to measure just how bad things really were. President Jimmy Carter's numbers from 1977 to 1980 were 13.6%, 13.72%, 17.02% and 20.68% respectively. In contrast, President Ronald Reagan had numbers from 1981 through 1988 of 17.95%, 15.86%, 12.82%, 11.8%10.75%,8.91%, 9.86% and 9.85%respectively. Notice a trend here??
I went all the way back to 1930 to the Great Depression and found the highest misery index occurred in 1934 at 24.8%. So how were the last 8 miserable years of George W. Bush you might ask? Could this really be the so-called worst economy since the great depression? His indexes were as follows: 7.53%, 7.39%, 8.27%, 8.18%, 8.49%, 7.84%, 7.45% and 9.65%, with an average of 8.1% over 8 years. Now for the life of God, can somebody please explain to me how the last 8 years have been the worst economy in the past million years?
In addition we summarized this data by political parties to see which party produced a better economy. The democrats had an average misery index since 1930 of 11.2% and the republicans came in at 9.4%. So the conservatives average almost 20% lower inflation and unemployment under republican leadership. Also as a point of reference, the AVERAGE misery index since 1930 is 10.3%. So George W’s highest misery index of 9.65% in 2008 is BELOW the 80-year average. Again how was this the worst economy in the last million years???? Maybe they are just preparing us for the next four years?
God Bless, Art
I went all the way back to 1930 to the Great Depression and found the highest misery index occurred in 1934 at 24.8%. So how were the last 8 miserable years of George W. Bush you might ask? Could this really be the so-called worst economy since the great depression? His indexes were as follows: 7.53%, 7.39%, 8.27%, 8.18%, 8.49%, 7.84%, 7.45% and 9.65%, with an average of 8.1% over 8 years. Now for the life of God, can somebody please explain to me how the last 8 years have been the worst economy in the past million years?
In addition we summarized this data by political parties to see which party produced a better economy. The democrats had an average misery index since 1930 of 11.2% and the republicans came in at 9.4%. So the conservatives average almost 20% lower inflation and unemployment under republican leadership. Also as a point of reference, the AVERAGE misery index since 1930 is 10.3%. So George W’s highest misery index of 9.65% in 2008 is BELOW the 80-year average. Again how was this the worst economy in the last million years???? Maybe they are just preparing us for the next four years?
God Bless, Art
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