[spokeshave]

.....so tax revenues will fall and foreclosures will rise......

we in for a bumpy ride but will prevail....

Clint Eastwood's take on this:

Eastwood Reloaded (for bear)

[alloysteel]

Doesn’t matter WHAT the Current Regime in the White Hut says - there hasn’t been a recession for a while now.

It is and has been a full-scale depression, vastly greater in real-money costs to everybody than the original Great Depression of 1931-1941, which only lifted because the exigencies of war DEMANDED the cession of most of the soul-killing micromanagement of the economy that had been the hallmark of the “New Deal”.

And in case anybody wonders, the Great Depression was much worse in 1938 (two years into FDR’s second term) than it was when he took office in March 1933.

[MonicaG]

Thank you for the detailed post with graphics.

[cynwoody]

Introducing the New Normal, per WJC and BHO in Charlotte:

Labor Force Participation Rate

Reagan Recession & Recovery

Bush, Sr., Recession & Clinton Recovery

Most Recent Recession and Zero Recovery

http://www.nationalreview.com/corner/316222/tale-three-or-really-two-recoveries-yuval-levin

Fact is, there are 12 or 13 million Americans who should have jobs who have given up and are largely invisible in the numbers.