The Rendezvous With Scarcity Rolls On

The song remains the same.

Barack Obama continues to set records, but not the ones he intended to when he wafted into the White House on the wispy aura of hopenchange. “Bernanke: Fed Predicts Post-WWII Record 73 Months of 7%+ Unemployment,” CNS News reports:


Federal Reserve Chairman Ben Bernanke told the House Financial Services Committee on Wednesday that the Federal Open Market Committee (FOMC) is predicting that the national unemployment rate will remain at 7 percent or higher through 2014, which would extend to 73 the number of consecutive months in which the unemployment rate has remained above 7 percent—a post-World War II record.

And not at all “unexpectedly.” Speaking of which, say, what caused that pre-World War II record?

Oh right.

Related: Say, how’s that New New Deal working out, anyhow?


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