Friday, December 03, 2010

The Great Recession?

Interesting: Two years into the Great Depression, a quarter of Americans were unemployed and the US steel industry was at 10 percent capacity. The Ford Motor Company slashed its workforce from 130,000 to 37,000 (no GM-style bailout there!), wheat halved in value in the Midwest, and even if you somehow had a job, your monthly salary fell from $50 to $16.