How Big is Our Safety Net for the Recession-who's gonna get hurt the worst?

[fischlehrer]

I know I agreed to post more upbeat news, but I'm also interested in how people will react/handle the recession. I'll leave the complex economic charting to the rest of you and post a bit about predicted effects on people

Comments

[cieldumort]

I like the articles you are drawing from. Good quotes. Lots of food for thought.

Here are some of my own prelim thoughts and observations:

"Economists rarely agree on anything, but a great many do agree on one unfortunate matter these days: the current economic downturn is likely to develop into the worst recession since the downturn of 1981-82.

We should be so lucky. The information Steven Greenhouse compiled is also now already dated, as a growing consensus has this recession -taking out- the 1981-82 downturn in terms of length, and perhaps also in terms of depth.

The United States is a far different place. Government programs in place then to cushion and counter recessions have been scaled back sharply,raising questions about whether they are up to the task as the economic outlook darkens today.Indeed! Ever since Reagan and his party effectively declared war on both the Great Society and on the New Deal, one can argue (I do) that there have been some serious over-reaches in the other direction. It arguably now takes a lot

[fischlehrer]

I really like this guy's blog. He explains his opinions in a very straightforward manner. Great charts and great explanations of his charts and graphs. If you read through some of his other top read posts, many of his info and charts mirror those you've posted. There is no info about him however on his blog. Perhaps he's your evil twin! :)

[cieldumort]

Hah! Not likely, but wouldn't that be cool lol ;)