A slow recovery? It’s all relative.

That’s the headline of Floyd Norris, writing in Saturday’s New York Times on the pace of the American economic recovery. Adjusted for inflation, we’ve seen 1.2% growth since the peak quarter before the 2008 recession began. Among the group of 7 industrialized countries (the G-7), that’s puts us in second place, behind only Canada which avoided the worst of the downturn because of a better regulated banking system. Ahead of Germany, France, Japan, Britain and Italy. And also, of course, far ahead of Portugal, Ireland and Greece, the countries recently bailed out by Europe, with staggering declines of -5.2%, -12.5%, and -15.9%. The U.S. is the only one of the G-7 group to show consistent growth over the most recent four quarters. I love facts.

Lawrence M. Schall

President

Oglethorpe University

4484 Peachtree Road NE

Atlanta GA 30319

o. 404.364.8319

f. 404.364.8324

www.oglethorpe.edu

http://www.huffingtonpost.com/dr-lawrence-m-schall/

Make a life. Make a living. Make a difference.

Advertisements
This entry was posted in Uncategorized. Bookmark the permalink.

One Response to A slow recovery? It’s all relative.

  1. Here’s a great fact: I love my husband, who is also a GREAT father. Happy Father’s Day, darling … xoxoxox b

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s