Saturday, March 15, 2008

Recession for who?

In my mind it will have to go some before it matches the early 80's recession which in the upper midwest went longer and had a deeper impact than it did on the coasts. That's when much of the manufacturing belt became the rust belt. The 90-91 recession impact was definitely milder in the upper midwest than the 80-83 recession, in part because the midwesterners rebuilt their economy in a more conservative fashion and were less susceptible to the factors in the 90-91 downturn.

I say that as a simple observer with very little economic background so take it for what it's worth.

Here's who I worry about though. If you'll note on this graph, the bottom of the y-scale goes to -30. The blog post gives more background and the origins of the graph plus another graph.


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