Keeping the Recession in Perspective
Published: January 18th, 2009
Dr. Mark J. Perry has a reminder of how much worse it could have been – and has been in the past (neat graph at the link):
Prime Rate
1981: 20.5%
2009: 4% (Current)Inflation
1980: 14.8%
2008: 0% (December)Unemployment Rate
1982: 10.8%
2008: 6.5% (December)30-Year Mortgage Rate
1981: 18.5%
2009: 6.04% (Current)Real Gas Price (2008 dollars)
1981: $3.45 per gallon
2009: $1.82 (Current)
“The worst economic crisis since the Great Depression?”
Plus, unreported news: Real Earnings Increase in December By 2.9%.
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