Chart of the Day

From Calculated Risk, here’s a chart incorporating today’s bad unemployment news.  We’re now clearly in the worst slump since the Great Depression, and by far the worst slump in the past 50 years.  And if that’s still not bad enough news for you, keep in mind that we’re in good shape compared to Europe and China.  If and when another shoe drops (ARM resets? Eastern European defaults? a big bank collapse? an oil price spike?), it could be 2008 all over again.

On the bright side, the Wall Street Journal reports that banker pay has rebounded and is now back up to bubblicious 2007 levels.  It’s good to see that not everyone is suffering.

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FACT:

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Today, reader support makes up about two-thirds of our budget, allows us to dig deep on stories that matter, and lets us keep our reporting free for everyone. If you value what you get from Mother Jones, please join us with a tax-deductible donation today so we can keep on doing the type of journalism 2020 demands.

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