Is This Recession Worse Than Those of ‘70s and ‘80s?
When is bad news good news? Answer: When the bad news is not as bad as you thought. Having lived through those past recessions, this one sure seems serious to me. If we believe all the media doom and gloom stories, however, the U.S. is maybe one step away from the “D” word.
Not so, according to an article on Yahoo Finance, “Why This Recession Seems Worse Than ‘70s and ‘80s.”
A heartening quote is, “The current situation has nothing in common with the Great Depression. The sooner they (in Washington) stop spinning the bad news story and say nothing, the sooner we’ll be more confident.” The article goes on to provide statistics and explain why this recession is not necessarily as negative as many portray it. Hopefully, Obama’s stimulus package will kick-start the economy.