- Myth 1: Unemployment is below 10% - There are 79 million men in America between the ages of 25 and 65. And nearly 18 million of them, or 22%, are out of work completely. (The rate in the 1950s was less than 10%.)
- Myth 2: The markets are panicking about the deficit - Rates on U.S. bonds have been plummeting recently. The yield on the 30-year Treasury bond down to just 4%. By historic standards that's chickenfeed. Panicked? The bond markets are practically snoring.
- Myth 3: The U.S. is sliding into "socialism" - Corporate profit margins rocketed to 36% in the first quarter [of 2010]. Since records began in 1947 they have never been this high. The highest they got under Ronald Reagan was 30%.
Wednesday, June 30, 2010
From The three biggest lies about the U.S. economy Brett Arends ROI - MarketWatch.