Back from Hafeet and I looked up the government stats. They only started keeping quarterly data in the 1940's, but, yep, it is official: Back-to-back quarters of 6% declines is the worse performance since 1946. (The US government cut spending way back once WWII was over and all of those troops coming home were looking for a job.)
I wonder why this is not headline news. Even the stories I've found about the numbers don't explain how bad they are in historical terms. We all knew this was the worse recession in generations, but this is the first statistical proof. You'd think that would make headlines.
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