How the US Can Dodge A Depression
What Next | Daily News and Analysis
Slate Podcasts
4.3 • 2.4K Ratings
🗓️ 27 May 2020
⏱️ 21 minutes
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| 0:00.0 | I'm wondering if you can describe the book you're reading. |
| 0:07.0 | Is it a door stop, basically? |
| 0:09.0 | Yeah, you feel the weight of it. |
| 0:11.0 | You feel the weight of history on your lap as you read it. |
| 0:15.3 | Jordan Weissman covers the economy for slate. |
| 0:18.4 | So when I asked him what he did over the Memorial Day weekend, and he said, oh, I'm reading |
| 0:23.0 | a 900-page book about the Great Depression. |
| 0:25.9 | It cringed a little. |
| 0:27.6 | Yeah, I mean, I don't think anybody will be shocked about why I've decided it's a good |
| 0:33.4 | time to read about the 1930s again. |
| 0:35.6 | We're facing the highest unemployment rate since the Great Depression. |
| 0:40.0 | Officially, it's 14.7%. |
| 0:43.8 | The Bureau of Labor Statistics has actually suggested it could be closer to 19 or 20% because |
| 0:50.1 | of a data collection error when they were gathering on those statistics. |
| 0:54.1 | So the numbers are really bad, but actually they're probably worse. |
| 0:57.4 | Yeah. |
| 0:58.4 | Yeah. |
| 0:59.4 | Yeah. |
| 1:03.8 | And actually in some ways, that too reminds me of the Great Depression because, you know, |
| 1:08.8 | back then, they didn't really have modern economic statistics. |
| 1:11.4 | And so they had to try to combat a crisis while they only had a hazy idea of just how awful |
| 1:17.1 | it was. |
... |
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