[lbo-talk] More premature Obama/FDR comparisons, this time from Newsweek

[shag carpet bomb]

At 06:49 AM 11/14/2008, Doug Henwood wrote:
>The economy is bad and likely to get worse, but a moment's perspective
>please. When FDR took office, the unemployment rate was 25%, GDP was
>down 25%, and 10,000 banks had failed - all after four years of Hoover
>and the Fed doing little or nothing. Now, the unemployment rate is
>approaching 7%, GDP is off about 2%, 20 banks have failed, and
>Washington is throwing hundreds of billions at the problem. The
>comparisons are pretty interesting to a political psychologist, for
>sure.
>
>Doug

what do you think it's about Doug?