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Ronnie and the Depression
“A recession is when your neighbor loses his job. A depression is when you lose yours.” -Ronald Reagan, 1980
December 4, 2008 | Filed Under media
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Though I am not really in love with the politics of Reagan, he has some points here - especially when reading it from with the country of ‘Madame No’ (german only):
“When it comes to searching for definitive explanations, Reagan may have gotten it right back in 1980. In that same speech, he said, “Human tragedy, human misery, the crushing of the human spirit … They do not need defining—they need action.” (from same Newsweek article, as you quote, Marius)