Bob M. – Entrepreneur with an
MBA degree from University of Pennsylvania - The Wharton School and a BA from Lafayette College
I think some of your facts are wrong. Over 100 banks
have failed. The unemployment rate reached 10% and then declined only
because those who ran out of support - 99 weeks - are no longer counted.
If you add the unemployed and the underemployed the true figure is
probably 20-25%. One out of every six people in this country is experiencing
a problem in getting food. One of every 4 mothers with infants is having
a problem affording diapers.
At the same time the situation is not as severe as it was in
the Great Depression, when we were still moving from an agricultural society to
an industrial one. The movement today is from an industrial society to a
service society, which again calls for dislocation and different skill sets.
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