Is our Recession 1981 all over again?


A great graph from Calculated Risk. So far, we are following the 1981 recession. We will probably end up with a higher percentage drop than 1981 though. It appears recessions, if you measure them this way, are lasting longer. Why is that?


6 Responses to “Is our Recession 1981 all over again?”

  1. 1 Samantha Madnick February 9, 2009 at 8:18 PM

    This is very scary. I hope that we can pull our selves out of it. But it doesnt look good.

  2. 2 O'King Kohl February 10, 2009 at 8:26 AM

    It’s terrible on how the unemployment rate continues to to decline, so the economy continues to decline as a result of it. However I do belevie that it dose continue to take a longer each time this country has a reccession because more and more the world is reliying on technoloy which is constinly advanceing every year like computers. Hopefully we can pull ourselves out of this and if worst happens will be the same as the 1981 reccession and nothing worst.

  3. 3 Tim Honeycutt February 10, 2009 at 7:11 PM

    It seems that the US is a downfall it won’t be able to recover from. Obviously, this will be the hardest recession to recover from. It will take the longest. I hope Obama can do something, but i doubt one man can do it all. Printing money and pumping it into the economy will not help enough. It will sustain current jobs and maybe create new ones but it will not fix the enormous debt.

  4. 4 Cristhian Ayvar February 12, 2009 at 9:13 AM

    Yes it seems as though recession take much longer to get out of now a days. It is very upsetting to know that we will not have normal employement rates anytime soon. From both the graphes it is made clear that it will take a very long to for unemployment to see much change, even once we get out of this mess. And with not as many industrial jobs as before, I doubt that another war (such as Iraq) will help America find its way out of this recession. It looks as though we will all have to start investing in gold!

  5. 5 samandrews February 24, 2009 at 5:40 PM

    Not only is this 1981 all over again, its worse! This time we have more to lose. We rely too much on technology. Does anyone recall the Y2K scare? The big reason we all flipped out was due to the thought of power loss. No heat, no A/C, no electricity… and it was all because we thought that when the date changed from 1999 to 2000 the computers wouldn’t be able to understand and they’d shut down. The canned food and those back up generators, all because we rely on technology. Well what do we do if the economy reaches an all time low and we can’t even afford the technology? We just go back to basics or what? Kids can’t even entertain themselves without a PSP!

  6. 6 dionicio arechiga March 19, 2009 at 10:11 PM

    this looks real bad i hope this does not get worse and that we can bounce back to where we need to be

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