Economic Downturn

Depression? What Depression?

These words from Jonathan Chait today perfectly articulate a thought I've been stumbling to express:

I live in a Washington neighborhood almost entirely filled with college-educated professionals, and it occurred to me not long ago that, when my children grow up, they’ll have no personal memory of having lived through the greatest economic crisis in eighty years. It is more akin to a famine in Africa. For millions and millions of Americans, the economic crisis is the worst event of their lives. They have lost jobs, homes, health insurance, opportunities for their children, seen their skills deteriorate, and lost their sense of self-worth. But from the perspective of those in a position to alleviate their suffering, the crisis is merely a sad and distant tragedy.

See more of our coverage in your search results.

ADD THE DAILY BEAST ON GOOGLE

David Frum

Got a tip? Send it to The Daily Beast here.