Every month, I put together the "Mile High Stats" from MetroList in Denver.
You can see those charts here.The first chart is something that is the MOST important for the entire group of readers. Though nobody knows the future, I am disgusted - yes,
disgusted - with the fear of the unknown and the lack of economic insight offered by the media.
The first chart relates to the unemployment rate in the US since 1948 -- 60+ years. The chart shows how unemployment seems to peak around 8.0%. Given how dire prognostications have been, this time it might be higher. However, this IS NOT the GREAT DEPRESSION. Nor is it even close.
Now, I am an MBA with corporate background, but I don't do econometric modeling for a living. I sell residential real estate. However, no matter how dire the news in 1975, 1982, 1992, etc., America is still America.
We are the strongest, most diverse, most pull-up-the-bootstraps and get-it-done country on the planet. Despite how bad things are, our spirits always rise above the adversity. That is what is great about our country! It's why we lead the world in everything we set our minds and hearts to excelling in!
As you will see, that greatness drives America to overcome unemployment as it starts to exceed 8.0% -- pretty much always. The two times it was exceeded were right after Vietnam, as tens of thousands of veterans (for whom we are eternally indebted to them for their service) came back into the employment pool, concurrently with the Oil Embargo. The most recent was when hyperinflation was being choked off in the early 80's and aggressive FED policy was intended to cut off the inflationary, upward spiral.
Though there are some unique aspects to this downturn, there always are unique things about each and every downturn. So, there is nothing new there. So, it is realistic to expect this downturn to be like the majority of those in the past 60 years.
I hope this provides some perspective because it seems the media is lacking it nowadays...and that is a huge disservice to you.
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