Bad News

I didn’t do well in economics and I don’t claim to know much about abstractions like “the economy,” but I do know how to read a newspaper.
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People have been trying to find the right words for what’s going in America today: slowdown, recession, depression.
When people line up outside their bank, praying that they will be able to withdraw their money, we’re in a depression bind. No, it’s nothing like 1929. Not yet. During the Great Depression one third of American adults were out of work. I can’t quite imagine that scenario in today’s America, where everyone is armed to the teeth and our sense of community is badly frayed.
[UPDATE] According to The Wall Street Journal, the FDIC typically insures as much as $100,000 per depositor, but nearly $1 billion of IndyMac’s (whose customers are pictured above) roughly $19 billion in deposits was uninsured, affecting about 10,000 people, according to the FDIC. Officials have said they would be able to make 50% of customers’ uninsured funds available.

About David Burn

I wrote my first ad for a political candidate when I was 17 years old. She won her race and I felt the seductive power of advertising for the first time. Today—after working for seven agencies in five states—I am head of brand strategy and creative direction at Bonehook in Portland, Oregon.