Posted on 01/09/2009 9:49:30 AM PST by NormsRevenge
Indeed.
There were probably many more bananas eaten by Americans in 2008 than in 1945, meanwhile probably fewer cigarettes smoked. Who knows what either might mean.
I think that the observations about that "number" of jobs lost assertion (don't know if it is indeed a fact), were made just to point out its simplism.
>>>It is stunning how the revanchist Establishment has managed to push the starting date of the recession back one year into the Bush administration to protect the Clueless One.
It is not revisionist to say the credit crisis began in July 2007. It is fact. Take a look at:
TED spreads (the difference between what the U.S. government and banks pay to borrow for three months)
http://www.bloomberg.com/apps/cbuilder?ticker1=.TEDSP%3AIND
High Yield bond spreads
http://www.bis.org/publ/qtrpdf/r_qt0812a.pdf
Asset Backed Commercial Paper rates and issuance
http://www.federalreserve.gov/releases/cp/
Bank lending standards
http://www.federalreserve.gov/boarddocs/SnLoanSurvey/200811/fullreport.pdf
This report is a nice summary.
http://www.bis.org/publ/arpdf/ar2008e6.pdf
...interesting thread for the interesting times that haven’t arrived, yet.
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