A good observation from Steve Kates at the Catallacy Files in Australia, on the dismal U.S. labor force participation rate, and how Australia risks following the U.S.:
US – five years into its 20 year lost decadeThe Japanese have had a twenty year lost decade following their own Keynesian stimulus….And we could end up with the same kind of outcome if we don’t get on top of our debt and reduce unproductive spending. Decline is slow, and not everyone becomes poor, but in the end as a nation, we are less well off and the way out becomes more difficult every year….
Doug Ross provides this chart (taking into account numbers released this morning) and commentary:
Did you notice it?Adjusted for seasonality, the labor force participation rate (LFR) has never increased — not once — under Obama! Normalized by month, the LFR has been on a non-stop ride to progressive Utopia (i.e., full unemployment).This is a stunning repudiation of the Obama economic agenda. Stunning.
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