Finance Geek

GDP down over 3% after five grueling quarters of recession. Unemployment at 9%. A federal budget deficit shaping up to be four times greater than average. These are our times, to the number. Uncannily, these were also precisely the economic statistics recorded during the recession of 1974-75.
Our times differ only in that inflation and interest rates now are nil, whereas both were in the double digits then. How we ever came to call ours today the worst economic crisis since the 1930s is anyone’s guess. But what we learned then, in the mid-’70s, can also help us now.
Rather than…

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This entry was posted on Thursday, September 3rd, 2009 at 4:04 am and is filed under RealClearMarkets. You can follow any responses to this entry through the RSS 2.0 feed. Responses are currently closed, but you can trackback from your own site.