Crisis of Confidence - revisited

May 2011, we are just about 3 years from the very slow climb out of the Great Recession. Unemployment is still hovering around 9.8%, but in actuality, it is much higher - some say around 15% when certain age groups are isolated. Gasoline prices are hovering around $4.40/gal. We've hit our debt ceiling this week. Trade imbalance is out of kilter and favors China. The real estate house of cards has yet to peak, with prime loan properties now inching up the foreclosure rate. The banks are holding back a hugh inventory of foreclosed property.

Have we crossed this road before?

Read President Jimmy Carter's speech entitled: "Crisis of Confidence" - 32 years ago....

http://www.pbs.org/wgbh/americanexperience/features/primary-resources/carter-crisis/