Wednesday, 28 May 2008

• depression? recession?

  Here is an interesting thought. With all the talk about $4 gas and the recession we are hovering around I heard an intriguing line. Do you know the difference between a depression and a recession? A recession is when your neighbor loses their job. A depression is when you lose your job. I ran across an article on the Great Depression today. In 1933 during the worst part of the depression the unemployment rate reached 25%. We are around 4-5% right now. Pretty amazing how bad things must have been. That's my happy thought of the day.

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