I’ve got to admit it’s getting better/A little better all the time.
– Paul McCartney.
It couldn’t get much worse.
– John Lennon.
To the extent one gets one’s information about the state of the economy from television news, one might be forgiven for thinking that the United States is, economically speaking, going to hell in a hand basket made in China. Wage stagnation. Downsizing. Outsourcing. It’s not uncommon to hear people talking about how we are on the brink of a new Great Depression, if not something even worse.
According to W. Michael Cox and Richard Alm of the Dallas Federal Reserve, the real story is quite a bit different. Below, from their article, are some helpful charts making the case against doom and gloom:
Now I know what you’re thinking: I don’t have time to look at a bunch of charts and graphs. Isn’t there some way to convey this information that’s more entertaining, preferably with a celebrity narrator? Indeed there is: