This graph captures the main indicators of the early 80's recession versus today.
![](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEh8xzT5fgySUNqiySyENpwGA0Px-zODjVTzSDzrHz5fm3XvoiULvUQAGURD5xKAmD5rfwzWMcD2F7Ed2RY-008RW-ZqW4M534ZLV2AB0-8TW9oDvC0kar1oovNvSv58B2WJXmlyhSTLy3U/s320/1980s.jpg)
Just for way of comparison, in the Great Depression, unemployment peaked at 25%, inflation peaked at 10%, and the prime interest rate was cut from 6% to 4% in 1930.
The early 1980's were the worst economic period since the Great Depression - today doesn't even come close. There is no 'fierce urgency of now' for this ill-defined, hodge-podge of a rescue package, now passed into law. This economic siege mentality is a result of an extended period of decades of merely minor recessions and extended periods of growth.
Don't let the doomsayers fool you.
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