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Reagan's Economic Definitions


rhasler

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I watched the Ronald Reagan episode of "American Experience" on PBS last night and they showed a clip of him during his campaign against Carter where he gave the following definitions for common economic terms (maybe slightly paraphrased):

"A recession is when your neighbor loses his job, a depression is when you lose your job, and a recovery is when Jimmy Carter loses his job."

Seems like this still applies to today.

"Mebbe I'm too ugly and stupid to give up!"

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I watched the Ronald Reagan episode of "American Experience" on PBS last night and they showed a clip of him during his campaign against Carter where he gave the following definitions for common economic terms (maybe slightly paraphrased):

"A recession is when your neighbor loses his job, a depression is when you lose your job, and a recovery is when Jimmy Carter loses his job."

Seems like this still applies to today.

As a young man attempting to raise a family I remember that era all too well, and the need for change that took place.

Rob

Dog.jpg.487f03da076af0150d2376dbd16843ed.jpgPlodding along with no job nor practical application for my existence, but still trying to fix what's broke.

 

 

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