Lansingman

Finding a Bottom: The Numbers Aren't Enough

The "Frozen Economy" article if anything shows how short people's memories are. Back in the 1930's thousands of banks were folding without any FDIC backup. Over 30% of the people were unemployed.

Our cost levels of food and fuel are still below Europe's typical prices. Our current unemployment is less than any of the major European countries.

The author chastises GM for wasting opportunities to develop more efficient engines. Maybe the real issue here is the folks sitting around in restaurants that wasted the opportunities to save a few bucks during the "good old days" whenever they were.