Tuesday, April 12, 2011

Economic recovery?

Not if you believe the folks at the EIA, who note that gasoline usage is still down about 5% from its 2007 peaks and significantly below its 2009 levels.  Given that gasoline usage is a decent proxy for employment, this indicates that, as those who are watching the numbers of unemployed and discouraged workers refuse to budge (and even grow), the recent "drops" in the unemployment rate are illusory.

Good job, President Obama Hoover.  Suggest you read this before it's too late.  Hint; throwing tons of money away on PBS, Planned Parenthood, and the Chevy Volt actually increases unemployment because it is neither a truly public good, nor is it what the people would choose themselves.

Update: Rothbard's help cannot come soon enough, as apparently Mr. Soetoro is channeling FDR in 1937.

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