Krugman: Crisis of ConfidenceQuicklink submitted by Sheila Samples Permalink
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|Our bleakness partly reflects the fact that most Americans are doing considerably worse than the usual economic measures let on. The official unemployment rate may be relatively low but the percentage of prime-working-age Americans without jobs, which isnt the same thing, is historically high. Gross domestic product is up, but the inflation-adjusted income of the median family is probably lower than it was in 2000.|
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