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Finally, The REAL Story Of The Economy

Listening to Biden try to explain the economy reminds us of this Reagan era spoof by then-White House chief economist Murray Weidenbaum:

“Economic data show an easing of the rate at which business is easing off. This can be taken as ample proof that there is a slowing of the slowdown.

“It should be noted that a slowing up of the slowdown is not as good as an upturn of the downturn. On the other hand, it is a good deal better than either a speedup of the slowdown or a deepening of the downturn.

“Turning specifically to interest rates, we find a very definite decrease in the rate of increase. ¬†Of course, if the slowdown should speed up, the decrease in the rate of increase would turn into an increase in the rate of decrease.

“And finally, the inflation of the recession would turn the recession into a depression, while a deflation in the rate of inflation would give the impression of a recession of the depression.”

Everyone got that?

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