Last time the Dollar sank to trade for 100 yen was November 9, 1995.
What were other financial indications like at that time??
Dollar trades for 1.4 German Marks
Gold $386/oz
Barrel oil $14
Stock closed at 4864
Unemployment: 5.6% (considered good news, people were happy with this rate)
What are these same indications at today, March 2008?
Euro trades at $1.60 US dollars
Gold $1000/oz
Barrel oil $111
Stock closed 12145
Unemployment: 4.8% (considered not low enough, many people unhappy with this rate)
*If you'd like to listen to the minute-long NPR comparison yourself, click here. From All Things Considered, March 13, 2008.
NPR's Financial Comparison: March 2008 vs. November 1995
Posted by Amy on 3/16/2008
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16 comments:
I would be interested to see these numbers on an inflation-adjusted basis. Also, note who the people are who are saying that our current level of unemployment is not acceptable. They are usually Democrats running for office who are trying to convince us that they will do a better job.
I think the numbers are interesting simply because they show how awfully inflated our country has become over the past 10 years.
Stephanie, I agree. I find it interesting Democrats think they can do a better job considering that the top 10 cities with the highest poverty rates have been run by Democrats 92% of the time since 1965. I'm not trying to say democrats are bad, I'm just saying the politicians are. Unfortunately McCain isn't any stronger than Clinton or Obama on the economy.
Amy, I can't believe you left out Mariah Carey's Number 1 hit in 95!:)
Haha!
But, Amy, the government keeps telling us that we have such LOW inflation!
Too much conservatism in here.
AHHHHHHHHHHH GUN CONTROL WELFARE ABORTIONS GAY RIGHTS TAXES THE ENVIRONMENT AL GOOOOOOOOOORE MICHAEL MOOOOOOOOOOORE
There.
so Mike, are you saying that the numbers actually back up conservative arguments?
I noticed you left off Raising Minimum Wage----interesting.
And leave my guns alone!
I'm not saying anything, just being stupid and silly... but if it'll make you feel better:
AHHHH RAISE THE MINIMUM WAGE SAFKLJ
:) Conservatives want to spend less and tax less, which would work for me; certainly it'd be better than what this administration's been doing!
Do you think we need a weekly catch-all comment thread to talk about random stuff? The chat box is nice but it's kinda limited...
Joel, do you really have guns? If so - cool. I want one but I wouldn't get one without putting in some time on the shooting range, which I don't have time for.
Mike - I think you nailed it on why the Republican party is struggling. President Bush and his administration are not acting conservative! I'm not expecting much out of the next administration either (whether Republican or Democrat). I think any of the three will spend more and tax more (particularly with a Democrat-controlled congress. Look what is happening already!). I would love a return to good old conservative principles - how long ago was that, exactly?
I think what we need is . . . more posts to comment on!
Honestly, I don't really know what any of those numbers mean. I mean, I don't really know how or why they are significant. Everything is relative, that's for sure.
And am I crazy, but I don't hear "Democrats" talking about the unemployment rate. I don't hear much about the unemployment rate, at least on NPR (which being a busy mom who's spent a lot of time in the car this week, is where I've been getting all my news lately!) I hear a lot about the "credit crunch" and the "housing slump" and how the stock market or this or that is going to react to the Fed lowering the funds rate again today. And about the price of oil (which - yikes! Can someone explain why the huge jump in oil prices in the comparison?)
And is there no one in politics today who has any economic experience besides Mitt Romney? I know it's still raw for some of us, but he's not really in the picture right now, you know...
Mike I think a weekly catch-all comment thread would be great. It would be great to be able to talk about the issues as they arise.
Wizzle, the unemployment rate was something the Democrats harped on when the economy looked good. It wasn't even bad, but they were looking for something to say, "Look! GWB has ruined your lives!". Now that we have lots of bad economic news to talk about (like the things you mentioned), it is not necessary for them to try to use it. (And no, I don't think the housing crisis or credit crunch is GWB's fault - I think it is the fault of the general consumer who has tried to live beyond his/her means).
the reason for the increase in oil prices is 1) general inflation, meaning the dollar is just worth less now, and 2) OPEC! They just decide sometimes that there will be less oil on the market. 1994 wasn't one of those times. 2008 is. Collusion is a very unfortunate aspect of the oil market. oh, and 3) we have used a lot of oil in the last 13 years, leaving less behind. Lower supply with increased demand means higher prices.
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