July 19, 2010

Ken Rockwell is Wrong on the Economy.

"More than 14 million Americans are out of work, and nearly half of them have been jobless for six months or longer."
– Mr. Bob Herbert, 7/13/2010.

"The myth of an economic crisis is just a crutch so that people who aren't doing that great right now can blame their problems on someone else instead of themselves."
– Mr. Ken Rockwell, 7/8/2010.

Mr. Rockwell is often right about photography – but he's dead wrong about macroeconomics, and about the millions of Americans who want to work but can't find a job. They may be "mythic" (in the sense of "heroic") – but they are not "mythical" (in the sense of "fictitious"). They are no myth. They are real.

Want data? Here (from Wolfram|Alpha):

Unemployed Americans:

Median Duration of Unemployment, USA:

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