Something is Different This Time
Here is a chart from the New York Times showing the past six recessions. Each line is a different recession and shows the ratio of the non-farm payroll k months into the recession to the non-farm payroll at the beginning of the recession. The horizontal axis is number of months into the recession.
Here's a quick quiz. Which of these recessions saw massive governmental surgical intervention and which were simply nursed and allowed to heal themselves?
The OFloinn's random thoughts on science fiction, philosophy, statistical analysis, sundry miscellany, and the Untergang des Abendlandes
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Umm . . . 1980?
ReplyDeleteWhile we're at it, recessions are getting longer and longer -- does that correlate w/more gov't intervention?