When Paul Krugman says Yikes!, then so should you. Minus 6.2% GDP *decline* in the 4th quarter of last year. Understand that if this goes on, 10% unemployment by the end of the second quarter 2009 is a certainty. And I'm talking the *official* (doctored) unemployment rate... the real one will be in Great Depression territory, 15%+.
-- Badtux the Depressed Penguin
I think that Collyfornia already has a 10% unemployment rate. But, if you are a Rethuglican you can spin it by saying, "Hey, 90% are employed!" :)
ReplyDeleteI saw Donald Trump on CNN a couple weeks ago and he said we were already in a depression.
ReplyDeleteOf course there's no Rethuglicans that will ever admit that....like Phill Gramm says, we're just a bunch of whiners.