President Obama, speaking this afternoon in Cleveland, seemed to celebrate the unemployment rate of 8.1 percent, and said it "typically take[s] countries up to ten years to recover from financial crises of this magnitude."
Well, that is about how long the Great American Keynesian Depression lasted before the economy rebounded on the strength of reconstruction after WWII. Europe perennially embraces Keynesianism and staggers at the best of times while at the worst of times teases collapse. And Japan's
I believe Obama is on the something here.
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