Best Of The Web
“Since the global financial crisis of 2008 to 2009, the U.S. economy has chalked up nine years of solid growth. That’s 36 consecutive quarters of GDP moving in the right direction, which amounts to the second-longest run in U.S. history. If the growth continues for just one more year, it will unseat the boom of 1990s to become the longest.
That’s impressive. But if you’re looking for a developed country that seems to be entirely recession-proof, go to Australia. Australia has enjoyed 27 years of uninterrupted growth since its last recession—108 consecutive quarters of economic expansion and counting.
A few developing countries such as China can match that record, of course, but no other developed economy even comes close. When even China started to slow down in 2012, it raised fears among commodity exporters like Australia. Iron and coal are Australia’s top two exports, and China is their No. 1 destination. But even then, Australia’s GDP growth merely slowed from 3.9 percent in 2012 to 2.6 percent in 2013. Other developed countries might be thrilled just to reach 2.6 percent in the first place.
But Australia’s extraordinary economic statistics mask a more difficult economic reality. At the lowest point in the spring and summer of 2013, Australia’s quarterly growth rates fell to 1.7 percent. At the same time, Australia’s population was growing at an annualized rate of 1.8 percent. Measured in per capita terms, then, Australia’s economy actually shrank for two consecutive quarters.”
JJ Best Of The Web
“America’s economy, thanks to Trump’s deep cuts in taxes and regulations, is powering ahead.”
“Donald Trump has this one right. Democrats have become a party of political radicals.”
“As long as Israel wasn’t explicit about what it meant to be Israeli, it was possible to be entirely Druze and, organically and inseparably, entirely Israeli.”
“Neil Armstrong was a quiet, sensible, level-headed guy, which makes him perfect for flying a spacecraft but not a particularly enthralling movie protagonist.”
“The number of IPOs is declining, and that could mean that small investors are getting shut out of the most lucrative deals.”
“The solution is so simple it’s almost laughable: just make our clouds a little more reflective, so they reflect more of the sun’s light, and thus reduce our heat.”
“Do you send Venmo requests for less than $5?”
“When female novelists write about female characters, or domesticity, or children, they face subtle charges of self-absorption.”
“Forget the game room and formal dining. You need space for aging parents and Airbnb guests.”
“Salt, Fat, Acid, Heat’s Samin Nosrat wants you to get off your butt and cook something.”
“Reality Is just a bunch of hallucinations we collectively agree on.”
“Let’s bring back the Sabbath as a radical act against ‘total work.’”