More gloom-and-doom "sky is falling" BS this time from a science website.
In light of the current crisis on Wall Street and yesterday's stock market losses, some experts fear the worst and even claim that, for the first time in recent American history, future generations could be worse off economically than their parents.
"For many U.S. households this may result in a new reality, with declining economic prospects for the next generation," said economist Ross Gittell of the University of New Hampshire.
Yup a 500 point loss in the market causes people to say that the Great Depression is here again.
I will believe these economists when 9000 banks fail, there is 26.6% unemployment, and crop prices fall by 40-60%. Until then I will just wonder if some of these professors are just pumping up this crisis due to political affiliation. It seems that Obama might to be doing according to McCain and I wouldn't put it past a few economists as well.
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