The country is now in a "depression" according to the Independent in England, and that is probably because unemployment has now "rocketed" to 5.1 percent.
Never mind that the unemployment rate is twice that high--chronically--in some European nations and was about four times that high in the real Depression. Read Donald Luskin for a dose of realism.
Luskin may be turn out to be wrong, technically. But he unquestionably is right about the extent of suffering and the real long term health of the economy.
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