Again, people talk about, ‘Well, you know we’ve had jobless recoveries before. Look at 1991, 1992; look at 2001, 2002.’ That’s fine. We’ve never had a situation where 34 months after the recession began, every single economic indicator is lower than it was before the recession started.
– Former chief economist for Merrill Lynch, on why we’re only at the beginning of the Greatest Depression [thanks, Daily Intel] and why this thing is going to last for easily 10 more years. From a conference transcription I’m working on.