In 2009, after overly strict mark-to-market accounting rules were altered, we said the Financial Crisis was over. It was hard to get our voice heard, though, because both sides of the political aisle were busy saying the economy stunk. Political liberals tried to use the crisis to grow the government and increase bank regulation. Political conservatives said it was a "sugar high" and that President Obama was going to cause a Depression. It was all spin, all the time.
That's what it seemed like last Friday, when the September jobs report was spun into terrible news.
Focus on Data, Not Spin
October 11, 2021