Tuesday, January 30, 2007

The Worst Economy Ever?

Well, of course it is. After all, George W. Bush is president. America is doomed. Everybody's broke, nobody can find a job, we're all starving, etc., etc.

Setting aside the 4.5% unemployment rate, the rising wages, the percentage of Americans who own homes, the low interest rates, the non-existent inflation and the new stock market boom that started last year--these critics are absolutely right.

But what to make of the steady economic growth for the past five years (see chart?) Could it be that the economy is, well, pretty good after all?

Naaaahhhh. I'm sure that's just all the money going to Haliburton.