It's a Recession Not a 'Catastrophe' | Alan Reynolds | Cato Institute: Commentary

It's a Recession Not a 'Catastrophe' | Alan Reynolds | Cato Institute: Commentary

This is an old article,from February of 2009, but it is good to consider. I really agree that Mr. Obama should not be spreading fear and negativity. Things are so much better than people think. It is amazing to me how negative most people still are even now when the recovery phase is just about over and the expansion phase is for real.

peak to trough gdp this time ended up at almost 4% and unemployment at 10.5%,
so this was severe in those terms

I always look at it from the perspective that we have so much, when you take away 4% of it you still have way more than you need

Also, the accumulated wealth was not destroyed. Saying something is worth $10 one day and $5 the next has not really destroyed any wealth. Wealth is finally real things, not the dollar value that people put on things.