The Economic Crisis: Lies. Damned Lies. And Statistics.

We have a jobs crisis not a regulatory uncertainty problem. "The demand for goods and services is depressed because of the collapse of the housing and stock market bubbles—the financial crisis—that has led to both a deleveraging (paying off debts) of households and a cratering of the construction sector. The initial shock of the bubble’s burst then cascaded into non-construction business investment that dried up as customers disappeared. Finally, all of this led to state and local governments cutting back services and jobs as tax revenues plunged." Regulatory uncertainty: A phony explanation for our jobs problem by Lawrence Mishel (Economic Policy Institute 2011-09-27).

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