9/4/09

Percent Job Losses in Post WWII Recessions (August Non-Farm Payrolls, 9/04/09 Statistical Release)

august-percent-job-losses-in-post-wwii-recessions

Via Calculated Risk




Saying it’s not your fault you crashed the ship into the rock


because the rock was underwater and hidden


 


‘Nobody could have seen it coming’


 loses its force when you are navigating in waters that are known to be rocky


 


Even if you have the latest sonar based upon fancy, innovative math


that is supposed to detect the rock before you hit it


and even if regulators were supposed to clearly map and mark all danger


if you hit it anyway


there’s a reason why captains are expected to go down with


or at best be the last ones off – the ship


 


It ensures they’ll do all they can to avoid hitting it in the first place


 


The Professionals are not being Held Accountable


Mark Thoma


Economists View

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