Herbert Hoover

The pundits have finally found a name for our pain.

No one wants to call our troubles a depression because that is such a frightening thought. And in fact it is too big a leap. After all, unemployment may be pushing 10 percent, but not nearly as bad as the 20-30-40 percent out of work during the Great Depression. The Dow Jones may be off some 50 percent, but values were down 80 percent back in 1930. And government has a better handle on the problem than President Herbert Hoover ever did.  read more »