I took an informal poll of our dinner guests last night. The question was: "Will the economy worsen and will we fall into a depression?" The answers were mixed. I've read some reports suggesting that there is about a 50/50 chance that we will actually fall into another great depression before this is all over. This is not your garden variety recession. It's something more severe, a major economic readjustment. At least one guest, our friend Louise, agreed with me that the refusal of Republicans in Congress to bail out Detroit was all about breaking the UAW.
Jim
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