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July 06, 2010
This really is starting to feel like 1932
Ambrose Evans-Pritchard is talking about the economy. I assumed he meant something else.
Roughly a million Americans have dropped out of the jobs market altogether over the past two months. That is the only reason why the headline unemployment rate is not exploding to a post-war high.
Let us be honest. The US is still trapped in depression a full 18 months into zero interest rates, quantitative easing (QE), and fiscal stimulus that has pushed the budget deficit above 10pc of GDP.
Let us be honest. The US is still trapped in depression a full 18 months into zero interest rates, quantitative easing (QE), and fiscal stimulus that has pushed the budget deficit above 10pc of GDP.
It is almost time for socialists to round up the usual scapegoats.
Posted by Ghost of a flea at July 6, 2010 10:41 AM
