If I hear we’re in “the most profound economic emergency since the Great Depression” spew from the mouth of some sanctimonious talking head or brainless politician one more time, my head is going to spin counterclockwise, and I will spew vile particles of green-flecked phlegm as my apoplexy takes control.
As badly as things may suck right now, we are NOT in the throes of the worst economic affliction since the Great Depression.
While unemployment is uncomfortably high at 7.6%, it’s been higher: In June, 1992 7.8% of Americans were without work, and in the Fall of 1982, the unemployment rate hit 10.8%.
So these are not the economic dregs some would have you believe.
Unemployment during the Great Depression ranged from 25% to 30%, and that level of worklessness lasted several years.
So even though the US economy lost 598,000 jobs last month, not the 500-million Nancy Pelosi quoted, it’s not the worst economic crisis we’ve been in since The Great Depression.