Victor Davis Hanson sums it up nicely:
The only mystery over the release of unemployment statistics was not whether it was going to be bad — everyone can sense the stasis in their own community first-hand — but whom would Barack Obama blame: Bush? The Republican Congress? The E.U. meltdown? The recent hot weather or summer in general? ATM machines? Hurricanes on the horizon?After sharp recessions, we usually get more robust than average recoveries, but since June 2009, things have not recovered at all really, and we are in a sort of permanent European-style slowdown — sort of a recession, sort of a weak recovery.
If one wanted to ensure permanent 8 percent to 9 percent unemployment, one might try the following…
