Here's another interesting chart of the changes in real (inflation-adjusted) net household income for various income classes:
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I just get a little red X in this one. The first two came out fine.
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Interesting not only for the recent steep drop in production relative to capacity but also for the generally slow growth of both production and capacity during the entirety of Bush's term.
That's odd. I can see it.
Go here:
http://www.fivethirtyeight.com/2009/02/clinton-economic-record-and-rising.html
It's got the chart with some (somewhat lengthy) analysis.
You might want to take another look at that chart.... production as a percentage of capacity escalated from 2001 until the end of 2007.
Of course capacity didnt escalate much by itself. After the recession of 2000-2001 we had excess capacity. No need to add capacity until the current is used. According to the chart, cap utilization got back to about pre recession levels.
Obviously it all dropped off a cliff in 2008.
I'll have to look at the data, but I do question why it is they lump Nixon and Ford together and Reagan and Bush together? Why not show their individual performances. Again, I'll print off the data tomorrow and take a look.
Other than that, I am sure it is supposed to show how the Republican Congress did a great job under Clinton making sure everyone benefited. That was the point you were trying to get across wasnt it?
comparing the decline to other recessions we may be nearing the bottom soon.
1) Yes, production as a percentage of capacity increased (escalated is not the word I would use at all) from 2001 until the end of 2007. We were not in a recession at that time. However, the pace of the increase was anemic at best as compared to pretty much any other non-recession period of similar length dating back to the mid-60s. Hence, "generally slow growth . . ."
2) Again, check out the capacity increase after the 2001 recession as compared to capacity increases after previous recessions. Hence, generally slow growth of capacity and production.
3) On this we agree.
Yeah, you've got a great track record of being right about the economy too.