The uneven economic recovery

There’s talk of the economy recovering, which is a good thing.  Yes, Obama will take credit for it, despite the fact that his massive spending bill has barely touched the economy, but that’s small potatoes.  What matters is that we’re not hovering anymore at the brink of economic collapse.

Still, I observed something interesting the other day.  This is an utterly casual observation.  It’s not based on any studies or even any deep understanding of economics.  It’s just that, when I check out NewsFifty, the site that allows you to click through headlines from all fifty states, I immediately see two trends:   First, the economic recovery is incredibly uneven, with some states rejiggering themselves and some still stagnant (and I leave you to figure out whether it’s the laissez faire or the government control states that are coming back faster).  Second, all states still report incredibly high unemployment.  So there is something of a recovery, but it’s not necessarily anything to boast about yet.

Also, Pierre LeGrand has some statistics that show just how uneven and, possibly meaningless, any “recovery” is right now.

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  • http://newsfifty.com sidburgess

    Thanks for the mention!

    It is so true! Your observation is exactly what ours has been. We haven’t tried to line up the states and determine if there is any common ground, but there is definitely a wide range of numbers coming out.

    Thanks for all that you do and keep up the fantastic work.

    Sid Burgess
    National Director
    http://newsfifty.com

  • highlander

    I’m glad that some states are showing signs of improvement. I hope it will continue and spread to other states, but this from the U.K. Telegraph via Joshuapundit concerns me:

    http://www.telegraph.co.uk/finance/financetopics/recession/6190818/US-credit-shrinks-at-Great-Depression-rate-prompting-fears-of-double-dip-recession.html

    It points out that conditions are present — contracting credit and shrinking money supply — which in the past have led to a second dip in the recession.

  • http://newsfifty.com sidburgess

    Highlander,

    You are exactly right. It matters somewhat how we perceive in reality or suspicion the condition of our economy, however, it matters much more how the whole word views our economic situation.

    That is a great article by the way. We ran with that as our lead story on that day as I recall.

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