Sunday, November 7, 2010

The Recovery Could Take 20 Years

If you're looking for a little schadenfreude Innocent Bystanders provides the chart above and the claim that the Democrats are toast:
In other words, for Obama to get back to normal by the end of 2016, he needs to enact policies that create 310,000 jobs per month starting right now. His presidency just gets worse every month he falls short of that goal.
I don't think anyone really understands how bad it is and how much worse its going to get. The structural changes in our economy brought about by technological innovations are going to hit administrative jobs pretty hard. As I've pointed out before, the educational industrial complex is also toast. Journalism is being democratized. We are living in a time of epic change. It will be good in the end, but the process will be painful.

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