Friday, December 5, 2008

Unemployment and Depression

Under FDR, Unemployment reached around 26%.

Under the old way of measuring unemployment I believe our unemployment would be around 20% in some areas, and at least 15% nationally if we counted all the unemployed. (Clinton moved the boundary stone)

We are not slipping into recession but are slipping into depression.

http://en.wikipedia.org/wiki/Franklin_D._Roosevelt#First_New_Deal.2C_1933.E2.

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