2013-05-21

A Matter Of Perspective

Here's a chart that Robert Murphy posted on his blog:
What kills me about this is the third recession from the right, the recession that began in 1991 or '92. I remember this recession vividly. In fact, it is the first recession I was ever really conscious of a person who thinks about the economy. I remember the news reports and the way people were so jaded and disgusted by "Reaganomics" and the GWH Bush administration. I remember the stories about the many unemployed people, and the many people living hand-to-mouth.

But just look at the size of it. It was tiny. By modern standards, it was hardly a blip.

Stunning.