One aspect of our current period of economic weakness that lacks broad recognition is the impact on society.
There are many different aspects of this societal impact, some of which I have already discussed on this blog.
Yesterday’s Wall Street Journal, page A3 had stories that serve as examples of this societal impact of economic weakness. One story was titled “Police, Fire Departments Face Budget Axe.” Another was “Fiscal Woes Push Up (School) Class Size.”
While it is difficult to quantify these societal impacts, they are nonetheless important.
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SPX at 1075.51 as this post is written