How the recession changed the U.S.

By Prieur du Plessis, on January 23rd, 2011 posted in: Economy, US Leave your comment

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“Officially, the Great Recession lasted from December 2007 to June 2009. A mere 18 months—about average, as recessions go. Yet if the trauma this time feels deep and lasting, that may be because, as the figures on these pages show, so many disruptions have upended national life at once,” writes Timothy Lavin in Atlantic Magazine.

“Millions of Americans have lost their jobs, nearly every state faces a budget shortfall, and hundreds of banks have shut their doors. The young are unemployed, living at home, and playing video games. The ranks of third-party candidates have swollen, militias have proliferated, and national leaders of both parties have seen their support decline. Of course, times of flux are often times of anxiety and unrest. But as the economy begins its slow and stuttering recovery, the vast changes wrought by this recession will continue to reverberate for many years – in ways predictable and otherwise.”

What a difference two years make! Click here or on the image below for a larger graphic.

Source: Timothy Lavin, Atlantic Magazine, January/February 2011 (hat tip: The Big Picture).

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