Unfortunately there are a lot of historical parallels here. For instance look at the double dip recession of 1936-1937. At the time the country in a weak recovery, very much like now. Economic production, profits, and wages had regained their 1929 levels. Unemployment remained high, but it was considerably lower than the were approaching the pre-depression levels of 1929. Under significant pressure from the republican congress, FDR drastically cut back on government spending. The result was a very drastic decrease in production and unemployment went from 14.1% to almost 20%. Industrial output fell by 15%, and kept declining until last 1938. Unemployment did not regain the 1936 levels until WW2 started.
I think with this agreement we're going down the same path. I think we're going to be in for a lot of pain over the next few years. I hope that the solution won't be the same. ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~| Order the Adobe Coldfusion Anthology now! http://www.amazon.com/Adobe-Coldfusion-Anthology/dp/1430272155/?tag=houseoffusion Archive: http://www.houseoffusion.com/groups/cf-community/message.cfm/messageid:341137 Subscription: http://www.houseoffusion.com/groups/cf-community/subscribe.cfm Unsubscribe: http://www.houseoffusion.com/groups/cf-community/unsubscribe.cfm
