'

As usual, one must go outside the USA to find reasonably presented facts. Here is a link to the UK Daily Telegraph:


With the US trapped in depression, this really is starting to feel like 1932[/b]

Quote
[b]The US workforce shrank by 652,000 in June, one of the sharpest contractions ever. The rate of hourly earnings fell 0.1pc. Wages are flirting with deflation.

"The economy is still in the gravitational pull of the Great Recession," said Robert Reich, former US labour secretary.

"All the booster rockets for getting us beyond it are failing....
The share of the US working-age population with jobs in June actually fell from 58.7pc to 58.5pc. This is the real stress indicator. The ratio was 63pc three years ago. Eight million jobs have been lost.
The average time needed to find a job has risen to a record 35.2 weeks. Nothing like this has been seen before in the post-war era. Jeff Weniger, of Harris Private Bank, said this compares with a peak of 21.2 weeks in the Volcker recession of the early 1980s....
The Fed is already eyeing the printing press again. "It's appropriate to think about what we would do under a deflationary scenario," said Dennis Lockhart for the Atlanta Fed.