Press "Enter" to skip to content

50 Things every American should know

… about the collapse of the economy.

The 50 things aren’t really news to people who’ve been watching closely. But the article is sharp and it’s fascinating that bits of libertariana and free-market economics are sneaking in to relatively mainstream econ stats, these days.

Take fact #16, for instance — inflation as measured from 1970 to the present and 1913 to the present. A lot of readers might think nothing of the use of 1913 as a base year for counting inflation. Wouldn’t notice, wouldn’t question. But you and I know why that year matters. And what if a few others start asking, “Why measure from 1913?” and start looking for the reason?

They might just start getting a little bit angrier, and a little bit wiser, when the Bernakistas assure us that “inflation’s not a problem, only food and energy are going up.”

(And don’tcha just love that? Marie Antoinette probably never actually said, “Let them eat cake” when told that the peasants had no bread. But the Bernanksters seem to figure it’s not a problem if the peasants can’t eat either bread or cake. After all, the peasants can still buy inexpensive computers. And golly, look how cheap real estate’s getting! “Let them eat McMansions!”)


  1. Underground Carpenter
    Underground Carpenter May 19, 2011 4:07 am

    Hi Claire,

    What I think is most interesting is all the statistics. Being one of the 87.5% of carpenters without a job (I made up that number), perhaps I can get a job as a statistician. I wonder who pays them. Where do I apply?


  2. Claire
    Claire May 19, 2011 6:11 am

    LOL, Underground Carpenter. That’s good. I think you buy a degree from a diploma mill, start uploading unreadable papers to academic sites, then start quoting yourself online. That should make you a famous, prosperous statistician.

  3. bumperwack
    bumperwack May 19, 2011 7:56 am

    well said…

  4. Scott
    Scott May 19, 2011 9:19 am

    For what it’s worth-at my current job, we had a temp guy from Detroit-according to him,it’s nearly a ghost city, with about 1/3 the population it had in 1975. One vast junkyard,as well-no building sits for long without being gutted of anything that can be sold as scrap. Add to that, the city keeps adding taxes/permits/fees/licenses/fines and what have you that drive even more people out..

Leave a Reply