Democrat strategist James Carville’s advice to Democrats for the midterm elections: “Don’t say recovery!”
Here is why.
Let’s look at how fast the labor market and economy recovers from a recession. I plot the beginning of the recession (NBER) as the starting point.
Since The Great Recession began in December 2007 (a year before President GW Bush left office), jobs added under President Obama watch are NEGATIVE.
To be fair, there was a destructive housing and credit bubble coupled with a recession before President Obama was elected (the recession only last 6 months after he took office).
Here is a more informative chart showing what has happened in the USA since the beginning of The Great Recession in December 2007. There is NO economic recovery.
Here is a chart since December 2007 of the NON-recovery. I would hardly say this is a compelling argument for the Obama/Democrat team for improving the lives of Americans, at least the lower- and middle-classes.
Another reason why Carville may be recommending not to say “recovery” is the GINI ratio of income inequality. The GINI Ratio keeps rising after the beginning of each recession (with the exception of GW Bush).
I think Carville’s advice to Democrats is a good one, because THERE IS NO ECONOMIC RECOVERY, especially in mortgage purchase applications.
Except for investors, like Lloyd Blankfein and Warren Buffet.